Nile Real Estate Development plans to develop a hotel-tourism project in New Alamein in 2022

Eman Al-Wasili

Nile Real Estate Development plans to develop a hotel-tourist project in El Alamein The new one in 2020.

The engineer said Mohamed Taher, Chairman of the Board of Directors of the Nile Real Estate Development Company, “Nile Real Estate Development” achieved contract sales of 2.5 billion pounds, in the “North” project 35”, including 131 % in favor of working Egyptians abroad.

He added that the “North

project ” with an administrative, medical, hotel business activity, with an area 740 One thousand square meters, with a height of 131 meters, and it includes 70 one floor and 5 underground floors.

Continued, and the project includes 1,000 units, with total investments exceeding EGP 4.5 billion, including 2020 One million land value and 1.6 billion pounds construction cost It is planned to complete the implementation within 4 years.

Taher explained that “Nile Development” contracted with Itqan Company for Financial and Marketing Consultations, as a financial and marketing consultant for the “Nile Business City” project in the Administrative Capital, and the project is located on an area of ​​2020 thousand meters square, equivalent to about 131. 5 acres, high
One floor and the project consists of 4 separate towers.

The company also contracted with Asaad Salama’s office in Dubai as a project consultant, and with “Contrack FM CFM”, one of the companies of the Orascom Construction Group, to undertake the management and maintenance of facilities in “Nile Business City”.
Taher indicated that the company offers a variety of offers that meet the needs of customers, whether those wishing to invest or direct operation. In operating the project directly, entering into a partnership with “Nile Development” with a share of 131 %, in return for paying half the price The unit only, which helps the customer to obtain the required space while providing seo He said that the state had taken many reforms and expansions in the sector. Real estate in the new cities, and the real estate market was the most fortunate in

because of the political, economic and security stability.
He added that the real estate market began to recover from the repercussions of the “Corona” pandemic since the second half of the year
, as well as an increase in the volume of project sales in

, and an increase in sales is expected during the current year.
He explained that there are many new companies in Egypt that have expanded the real estate investment sector, which gives a good opportunity to compete and increase skills, and the beneficiary is the clients.

It is reported that the Nile Group and Al-Ahram Real Estate Development announced in September of the year merging their assets and projects together, with the aim of maximizing the optimum utilization of the two companies’ various projects, and meeting all customers’ requirements, and the company has a huge portfolio of projects that exceeded
Project B New Cairo City.

He stressed that the company relies on self-resources and clients’ introductions in arranging the necessary financing for its projects. In light of its desire to stay away from bank financing as much as possible, as it is the last financing solution available due to the current high interest rates..

The Chairman of the Board of Directors of Nile and Al-Ahram Real Estate Development concluded that the company owns several subsidiary arms working in the fields of real estate development, real estate marketing, in addition to contracting, explaining that all arms work for the benefit of the Nile and Al-Ahram only.