AL DAU TO INAUGURATE ITS FIRST RES­I­DEN­TIAL PROJECT IN GIZA IN COM­ING MONTHS: MAR­KET­ING DI­REC­TOR

The Daily News Egypt - - Front Page - By Mo­hamed Mo­hamady

Real es­tate de­vel­oper Al Dau De­vel­op­ment, a mem­ber of Sami Saad Hold­ing, has con­tin­ued its im­ple­men­ta­tion of its two projects in real es­tate de­vel­op­ment, Al Dau Heights and Al Dau Strand, both lo­cated in Hurghada with in­vest­ments ex­ceed­ing EGP 2bn.

In late Au­gust,Al Dau cel­e­brated de­liv­er­ing the first phase of Al Dau Heights by hold­ing a big con­cert for Egyp­tian su­per­star Amr Diab.

The first phase of Al Dau Heights con­sists of 300 units. The project con­sists of four phases,and the whole project is to be com­pleted in 2022, ac­cord­ing to mar­ket­ing di­rec­tor ofAl Dau De­vel­op­ment Ba­haa He­fza­l­lah.

Daily News Egypt sat down with He­fza­l­lah to dis­cuss the lat­est up­dates of the con­struc­tion de­vel­op­ment of its real es­tate projects.

The com­pany seeks to develop tourism in Hurghada through con­fer­ences and con­certs held through­out the year un­der the aus­pices of the Min­istry of Tourism and the Red Sea gov­er­norate, said He­fza­l­lah.

IN­VEST­MENTS OF THE FIRST PHASE E CEEDED EGP M, AND THE VOL­UME OF IN­VEST­MENTS OF THE TWO PROJECTS E CEED EGP BN

What is the size of the project in­vest­ments in the first phase? What is the size of the in­vest­ments of Al Dau Heights and Al Dau Strand?

In­vest­ments of the first phase ex­ceeded EGP 800m, and the vol­ume of in­vest­ments of the two projects ex­ceed EGP 2bn.

Did the in­crease in prices af­fect the res­i­den­tial unit’s con­tracts?

No, the prices are fixed from the date of con­tract­ing on the res­i­den­tial unit.

What are the ma­jor ac­com­plish­ments achieved by Al Dau Heights?

The project is spread over an area of about 21 fed­dans,with 1,400 units im­ple­mented in four phases. The first phase was de­liv­ered in the first of July. Fur­ther­more, we com­pleted 40% of the sec­ond phase of the project, which in­cludes the green ar­eas, swim­ming pools, and a chil­dren’s play­ground.

The project is man­aged with the same qual­ity of the com­pany’s ho­tels and their ser­vices.The com­pany owns two main and im­por­tant ho­tels in Hurghada: Steigen­berger Al Dau Beach Ho­tel and Steigen­berger Aqua Magic. The project’s units range in area from a stu­dio of 40 sqm to 300 sqm, and all units have a view of the sea.The project is ex­pected to be com­pleted in 2022, and Al Dau Vil­lage Mall will be built at the en­trance of the project.

The com­pany will de­vel­opAl Dau Vil­lage Mall, which will ri­val Cairo Fes­ti­val City and City Stars.Be­sides, Al Basha restau­rants in Za­malek will launch three restau­rants in the Mall in Hurghada.

Is there a de­mand on buy­ing real es­tate units in coastal ar­eas?

Yes, the de­mand is high, and the de­mand for pur­chas­ing units in Hurghada is more than other tourist ar­eas. Hurghada is a res­i­den­tial city and not just a tourist one. It has been linked to Up­per Egypt with the new road net­work.At the same time, there are in­vestors from Up­per Egypt, and there are other for­eign­ers, such as Ger­mans and Rus­sians.

You an­nounced that Al Dau De­vel­op­ment is con­sid­er­ing de­vel­op­ing hous­ing projects in a num­ber of ar­eas in Cairo, such as Haram, Sheikh Zayed, and Mo­qat­tam. Did the com­pany de­cide start­ing its “first home” project, and in which ar­eas would these be?

We are cur­rently estab­lish­ing a res­i­den­tial project lo­cated in the Alexan­dria Desert road next to the Grand Egyp­tian Mu­seum (GEM). The project con­sists of res­i­den­tial units of vary­ing ar­eas and in­cludes a ho­tel. Con­struc­tion works will take place in the next few months.

Does the rais­ing of in­ter­est rates in banks af­fect the sec­tor?

Yes, of course.At the be­gin­ning, it af­fected the sec­tor, but with the re­al­iza­tion that the sta­bil­ity of the in­vest­ment is main­tained, the real es­tate in­vest­ment is stead­fast,and its value is in a con­stant rise and will not de­crease.

Has for­eign tourism been re­turn­ing sig­nif­i­cantly?

WE ARE CUR­RENTLY ESTAB­LISH­ING A RES­I­DEN­TIAL PROJECT LO­CATED IN THE ALE ANDRIA DESERT ROAD

Yes, the tourist in­flux to Egypt is bet­ter than last year’s, and I think we are now ap­proach­ing the nor­mal rates we are used to see­ing, es­pe­cially the flow of tourists from Ukraine, Poland, and Ger­many. I hope the Rus­sian tourist re­turns in the com­ing pe­riod. Like­wise, Egypt has seen high rates in the num­ber of tourists com­ing from other parts of Europe.

What is the pur­pose of the pro­mo­tional events held by the com­pany in Hurghada?

AL Dau De­vel­op­ment Com­pany has achieved a num­ber of suc­cesses dur­ing the pre­vi­ous pe­ri­ods in the frame­work of its plans to pro­mote tourism in the Red Sea through host­ing su­per­stars to play in its con­certs in Hurghada, such as mu­si­cian Omar Khairat, Mo­hammed Ha­maki, Jan­nat, and Amr Diab.

More­over, we seek to con­tinue con­certs in sea­sons like hol­i­days and pre­pare for the New Year cel­e­bra­tion.The aim of the pro­mo­tion is to ac­ti­vate and re­vive tourism to Hurghada.

The mar­ket­ing di­rec­tor of Al Dau De­vel­op­ment, Ba­haa He­fza­l­lah

The com­pany will develop Al Dau Vil­lage Mall, which will ri­val malls like like Cairo Fes­ti­val City and City Stars

The first phase of Al Dau Heights con­sists of 300 units

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