Mohamed Khattab – Head of the Commercial Sector of Al-Asriya Real Estate Development Company, ATRIC said that changing the company’s commercial name stems from a new and different idea aimed at providing a creative vision to enhance the company’s strength and the growth of its investments in the Egyptian market, especially in a number of vital and most attractive areas for customers, noting that the long history of the company in the field of real estate development is a major supporter of the expansion that the company aims to achieve during the next five years, noting that the expansion plan set by them is based on offering two projects in New Cairo and the North Coast during 2022, in addition to completing the construction work on the company’s current projects.
Khattab also said that the company’s second project under implementation is the “Boho Al Sokhna” project, which is located in the most distinguished place on a 250-meter sandy beach on a total area of 20 acres with investments estimated at 1.5 billion pounds with the best recreational services, with a total of 300 diverse units between chalets, villas and duplexes. The implementation rate of the project reached 62%, and the first phase of it will be delivered in the middle of 2022, In addition to the fact that the project contains a hotel in the same line with the state’s tendency to pay attention to the tourism aspect, especially on Egypt’s distinguished beaches, with a total investment of 250 million pounds with a capacity of 100 hotel rooms directly on the beach. It was agreed in principle with one of the major English companies to manage and operate the hotel in the Boho project, and it will be announced upon completion. Among the signing procedures, the company also owns the Dvina Gardens project, the first villa compound in El-Shorouk, with a total investment of 500 million pounds, and it was fully delivered in 2018.
Khattab added that the total investments of the company currently are close to 7 bi
The total investments of ATRIC Real Estate Development exceeds about 7 billion pounds, and the company is planning to launch two projects in New Cairo and the North Coast during 2022, in addition to completing the construction work on the company’s current projects.
Engineer Ashraf Naguib, The Chairman of the Board of Directors of Atric Real Estate Development, said that the company targets contractual sales of 2.5 billion pounds during 2022, and targets sales during the next three months at about 500 million pounds, and intends to put in investments with 600 million pounds in construction work until end of 2021.
He added that the company is implementing the “BoardWalk” project in the New Administrative Capital on an area of 45 acres in the R7 area, with a total investment of 4 billion pounds, and it includes 1.5 thousand units between residential buildings, duplexes and villas of various sizes. The construction percentage of the project is 53%, and about 75% of the total units have been sold. In two phases, the third phase is scheduled for sale soon. In addition to the commercial project, which is a separate project from the “BoardWalk” project, 30,000 square meters of buildings will be launched during the first quarter of 2022.
He clarified that the company is developing “Boho Sokhna” project, on an area of 20 acres, with investments estimated at1.5 billion pounds, with a total of 300 different units, including chalets, villas and duplexes. The implementation rate of the project is 62%, and the first phase of it will be delivered in mid-2022.
The project includes a hotel with a total investment of 250 million pounds with a capacity of 100 rooms. There was initially an agreement with one of the major English companies to manage and operate the hotel in the “Boho” project, and it will be announced as soon as the signing procedures are completed.