The Saudi American Real Estate Investment Group has succeeded in marketing and selling the entire first phase of its Cresta Bella Hills project in New Cairo. The first of its work in the Egyptian market.
Engineer Musab Najjar, Chairman of the Board of Directors, explained that the company succeeded in achieving 70% of the construction of the first phase of the Cresta Bella Hills project, which is a residential compound built on an area of 33 acres. This phase has been fully marketed and sold out, the company is in preparation for the launch of the second phase.
Musab revealed the company’s expansion plan and its targeting of other areas, the most important of which are the new administrative capital, the northern coast and Ain Sukhna.
He said that the idea of the company’s presence in Egypt was under long studies, especially after the country’s stabilization in 2015 and the launch of the state towards comprehensive development and economic reforms that all global economic countries witnessed, including encouraging foreign investment and overcoming obstacles to it, and after consultations with the parent company in the United States of America and the presence of a strong desire to invest in Egypt, and indeed, it has been approved to start investing in Egypt since 2017, with our first project in Egypt, which is the “Christa Bella Hills” project in the Fifth Settlement in New Cairo, in the Triangle of Hope, and all the company’s experiences gained over the years of its work in the American market and the Saudi market were transferred.
Dr. Ehab El-Fishawy, head of the engineering department and a member of the board of directors, explained that the project covers a vast area of 33 acres with large green spaces and landscapes estimated at 80% of the total project area, which reflects a high level of comfort and provides a suitable atmosphere for all those seeking excellence and naturalness. The project is characterized by many services, whether there is a land scape or a club house and a commercial mall.
Mohamed Wahdan, Head of Sales, explained that the site is unique and distinctive, in addition to the different engineering and architectural design, which made it an architectural masterpiece that provides luxury and safety for its residents, as it is the best location in New Cairo in the Hope Triangle.
The company has provided for this project all the investments to achieve the service advantages that contributed to the sale of all the units of the first phase in full, which vary in size, ranging between 140, 175 and 225 meters. In addition to expediting the implementation and completing the construction works ahead of schedule, as the construction rate exceeded 70%, which earned us the confidence of our customers, and after the construction of the first phase, the company began to construct the second phase, which will be put up for sale. The group’s practice is the implementation on the ground to give our customers credibility and realism in inspecting their housing units, focusing on the presence of services and taking into account pricing Payment methods, diversity of spaces between studios and apartments, attention to finishes and quality of materials used to meet the acceptance of customers with speed in implementation and attention to the smallest details to give distinction in our projects and complete the successful march that began in the United States.
Mohamed Ramadan, a member of the board of directors and the group’s legal advisor, explained that the company, since the beginning of its investment in Egypt, has been working on the principle of (the best choice), and considered this as the basis for its dealings in the field of investment, so its real beginning was in the “Cresta Bella Hills” project, in which it cooperated with the Judges Club. Egypt, which he considers a large entity, was chosen by the company because it is (the best choice) and based on this deal, the company presented its vision for the compound through extensive studies carried out by the parent company in the United States of America. The company hastened the implementation, which is almost finished and is preparing to deliver the units to the clients.
He also added that the company is carrying out technical and legal studies in line with the vision of the Chairman of the Board of Directors to expand investment in Egypt in the North Coast, Ain Sokhna and the Administrative Capital. And that is also through its basic idea (the best choice). There is no doubt that the Egyptian market has many companies and projects, but the group used to present to the market the principle of (the best choice) in terms of location, in terms of price, in terms of unique designs, and in terms of excellence so that the selection of projects The Saudi group is (the best choice).
It is worth mentioning that Eng. Musab Najjar, Chairman of the Group’s Board of Directors, holds a master’s degree in civil engineering in the United States of America, and is also the founder of many companies in the United States of America for more than 25 years, for example, “SAHARA CONSTRUCTION” and “O’philia Homes” company. He also has an investment in the Kingdom of Saudi Arabia, which is the company “Sahari Al-Emaar Contracting”.
These companies have implemented many projects for the United States of America, in addition to other projects in partnership with the Saudi government. The number of these projects exceeds more than 50 different projects, including residential, commercial and administrative ones, for example (The Dominion Country Club, Jones Home, Marble Falls, Belleza).
These are residential projects in addition to the construction of several administrative buildings for (IBC Bank) and (Falcon Bank).
And my project (Ram Country Auto) (La Cantera), which are commercial projects in the state of Texas.
Among their projects in the Kingdom of Saudi Arabia and for the benefit of the Emirate of Asir in Abha is the “Bait Al Taleb” project. He also established several educational houses on the latest construction systems with the Saudi Ministry of Education.