Mazaya Developments has successfully invested 1.5 billion EGP in just nine months since its launch in the real estate market.
Mohamed Allam: The company has developed an ambitious strategic plan that will create a strong investment and architectural footprint in the Administrative Capital.
Mohamed Mustafa: We successfully marketed the first phase of the Gemini Towers project within just 40 days of its launch.
Mazaya Real Estate Development Company revealed the investment and construction boom it has achieved in just nine months since launching its operations in the Egyptian real estate market. The company has successfully invested approximately1.5 billion EGP in new projects during that period.
Mohamed Allam, Chairman of Mazaya Real Estate Development Company, said that the company has launched its real estate venture with an ambitious plan targeting 4 billion EGP in distinguished real estate projects during the company’s first year of operation. This plan is being implemented with precision and excellence.
He added that the company began its investments by launching its first project, The Rook, in the New Administrative Capital, which was distinguished in every detail, starting with its location, the nature of the real estate product offered in the project, as well as the project’s marketing mechanism, as new concepts were introduced to the project, including a different and innovative mandatory lease, as well as the concept of a tripartite lease that guarantees labor rights and achieves investment returns.
He continued that the company introduced the concept of co-working spaces in a different way within the New Administrative Capital in the project, as the company continues to search for everything new, distinctive and different in its projects. The company then launched two new projects last May in the New Administrative Capital, following the company’s success in launching and marketing its first project in record time.
He explained that the company has launched the “Gemini Towers” project, which includes two towers, Gemini Red & Gemini Blue.
The project is located near the most important roads and axes and is minutes away from the Green River. The project includes various spaces that have been intelligently designed to ensure their best use and to achieve the comfort of customers within the project.
Mohamed Mustafa, CEO of Mazaya Real Estate Development, added that the two projects span 5,000 square meters, with total investments exceeding 1 billion EGP. The company successfully marketed the first phase within just 40 days of its launch. The two projects comprise a ground-floor commercial and administrative building with 14 floors. The company offers a variety of distinct payment plans for the project.
He emphasized that the company’s investment plan was developed based on robust studies that ensured gradual expansion and the capture of investment opportunities that were difficult to replicate. The company launched its first project and marketed it according to a specific plan, followed by the launch of two other projects.
He noted that the company had succeeded in achieving strong sales during the second quarter of this year despite the challenges the market faced during that period, including rising raw material costs and higher prices. However, the company successfully confronted these challenges and achieved its marketing plan for its projects.
