Daily News Egypt

Al Ahly Sabbour launches residential project ‘RARE’ in Mostakbal City - Daily News Egypt

Advertising Area

Advertising Area

Al Ahly Sabbour launches residential project ‘RARE’ in Mostakbal City

Company starts delivering Green Square as first operational residential compound in Mostakbal City


Al Ahly Sabbour, a leading real estate developer in Egypt, has announced the launch of its latest residential project, RARE, located within Mostakbal City.

The project, which will see a total of EGP 770m in construction costs, is spread over 59 feddan, and offers 670 townhouses. The delivery of phase I is projected for the fourth quarter (Q4) of 2025, and will be comprised of 306 units.

Ideally located 37 km east of Greater Cairo, RARE is in close proximity to New Cairo from the west, and the New Administrative Capital (NAC) from the east, as well as Cairo International Airport. 

“Choosing the right location for any project is key, especially when it is a residential endeavour, as it has to be accessible through road networks and feature premium-quality social infrastructure that includes schools, universities, and entertainment and recreational areas,” said Ahmed Sabbour, CEO of Al Ahly Sabbour, “This is what we at Al Ahly Sabbour found in Mostakbal City with its masterplan comprised of a comprehensive system that caters to the various needs and patterns of modern, day-to-day lives.”

Sabbour highlighted that the entity’s unique expertise, vision, and capabilities ensure the efficient and influential implementation integrated solutions stand out and have an impact on not only the company’s projects, but the areas surrounding them as well.

“The significant increase in the development of fourth-generation cities around Egypt gives us developers an opportunity to add more value to our endeavours through partnering a myriad of global experts,” Sabbour added.

He noted, “We have been working towards providing Al Ahly Sabbour residents with top-notch integrated facility management (IFM) services, which is why we focused on finding the right partners who could offer their expertise.” 

Sabbour highlighted the company’s recent partnership with the UAE’s Eltizam Asset Management Group, as it launched Tafawuq Egypt and Three60 Egypt. This aims to introduce premium-quality (IFM) and community management (CM) services to the Egyptian market.

Green Square, Al Ahly Sabbour’s project in partnership with Saudi Arabia’s Dar Al Maali for Development and Real Estate Investment, has already started delivering units in phase I, which is comprised of 830 units.

It is projected that the company will start delivering phase II by June 2021. Green Square, which will be Mostakbal City’s first operational residential compound, will see total investments reaching EGP 1.08bn, with a target of EGP 2.08bn in sales. The project covers an area of 80.21 feddan, and offers 1,167 units including apartments, duplexes, and townhouses.

Al Ahly Sabbour has a long-proven track record in the market as a leading real estate developer. 

Over the course of 25 years, the company has successfully developed 62 major projects in diverse fields including residential, retail, office buildings, touristic, social and sports clubs in prime areas across Egypt.

Al Ahly Sabbour’s projects in Mostakbal City have been seeing tremendous progress. Apart from the launch of RARE, which will be developed over two phases, construction for neighbouring projects, namely The Ridge, Alaire, and Alaire Park, is moving according to schedule.

Advertising Area

https://dailyfeed.dailynewsegypt.com/2021/03/27/al-ahly-sabbour-launches-residential-project-rare-in-mostakbal-city/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe