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Egyptian real estate developer Madaar announced on Wednesday that it has successfully obtained a ministerial decree for its Azha North project, located on the North Coast.
The allocation of 250 acres of land in Ras Al Hikmah to build Azha North was made possible under Ministerial Decree No. 275 of 2023 issued by Minister of Housing, Utilities, and Urban Communities Assem El Gazzar, Madaar said in a statement
The statement said Azha North encompass residential and commercial units, a hotel, as well as a 45-acre Crystal Lagoon, which will become the largest of its kind on the North Coast, offering waterfront views to all units.
The issuance of the Ministerial Decree followed a comprehensive review of relevant legislation, including Law No. 59 of 1979 concerning the establishment of new urban communities, Building Law No. 119 of 2008 and its executive regulations, Investment Law No. 72 of 2017 and its executive regulations, as well as Presidential Decree No. 28 of 2006, which established the New Urban Communities Authority.
Madaar’s CEO Ahmed Ehab said the company has commenced construction work promptly, with the goal of delivering the units by the summer of 2026.
He further revealed that the project will be equipped with its own solar power plant, desalination facility, and sewage treatment plant. Additionally, smart irrigation technology will be implemented to maintain the green areas that constitute three-fourths of the entire project area.
Ehab disclosed plans for an upcoming phase, which will introduce a mix of villas and apartments, catering to diverse preferences and lifestyles.
Dalila El Shaer, Madaar’s Head of Development highlighted the significant waterfront area of the development, stretching 12 kilometres in total, with 700 meters of shoreline and the remainder provided by the expansive Crystal Lagoon.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
