Engineer Sherif El-Sherbiny, Egypt’s Minister of Housing, announced that the 3,377 units in Alexandria’s Sawari Project have sold out. This update was shared during a meeting with Prime Minister Dr. Mostafa Madbouly to review the marketing status of New Urban Communities Authority (NUCA) projects across Egypt.
Projects in the New Administrative Capital
El-Sherbiny highlighted the villa project in the R5 district of the New Administrative Capital, which includes 459 villas. A comprehensive promotional plan is underway to launch sales soon. Additionally, he noted that the R5 apartment complex, with 23,200 units, has achieved sales totaling EGP 6.3 billion as of October 2024.
Developments in New Cairo and Sixth of October
Regarding New Cairo’s luxury housing project with 5,208 units, El-Sherbiny confirmed plans for immediate marketing. In Sixth of October City, the luxury housing project with 2,040 units saw the first phase of 600 units fully booked. The Bliss Gates project in Sheikh Zayed, offering 664 units, is also actively being marketed.
New Alamein City Projects
In New Alamein City, projects such as the LD00 Towers with 1,037 units and the Latin District with 4,543 units reported strong sales, with unit deliveries now underway.
Alexandria and Fustat Projects
El-Sherbiny reported the complete sale of units in the Sawari Project in Alexandria. Additionally, the Marina M8 and M9 projects, with 917 and 1,183 units respectively, and the Fustat project with 1,941 units, are experiencing robust demand.
Development Proposals and New Partnerships
The meeting also reviewed development proposals, including the Jannah Zayed 77 project covering 23 acres, planned for 86 buildings and a school. Another project in Zayed expansion spans 22 acres, featuring twin and townhouses along with a club facility. Sales progress in New Mansoura and Maspero projects was also discussed.
High Demand from Non-Egyptians
El-Sherbiny concluded by noting the significant interest from Gulf nationals in purchasing residential units in both New Alamein City and the Arabesque project near the Magra Al-Ayoun Wall, highlighting the appeal of Egypt’s real estate offerings to foreign investors.
