The New Urban Communities Authority (NUCA) has assigned the marketing and development of the latest phases of the Marina El Alamein project to the Saudi Egyptian Developers (SED), according to CEO of SED Mohamed El-Taher.
He explained that the cooperation with NUCA includes, in part, marketing a group of townhouses and twin villas that are ready for delivery and are a semi-finished. He stressed that the company succeeded in selling a large number of these units within a few days, and only a limited number remained. Also, the company has made a huge leap in sales of these units, which so far amounted to EGP 400m in a record time, pointing out that the unit price ranges between EGP 8m to EGP 14m.
He said that the second part of the cooperation with NUCA in the latest phases of the Marina El Alamein project on the North Coast will be in the form of providing a set of consultations on the type of construction that is most preferred to customers, and the quality of services needed to be available, as well as everything related to meeting the needs of customers who wish to buy in this way.
He pointed out that SED has a great history of experience in the field of real estate development, which is close to half a century, and it knows the needs of customers of different segments. It also has full knowledge of modern and preferred building patterns among customers, so its role will be to participate in the development of the project through providing consultancy, while NUCA will be the main developer of the project.
El-Taher said the selection of his company for the third time to develop a project by NUCA reflects confidence in the company’s capabilities to accomplish tasks with the highest standards of efficiency and quality, mentioning SED’s success in marketing the Sawary and the Latin Neighborhood projects. Total sales at the Sawary project amounted to EGP 6.7bn, while the Latin Neighborhood sales amounted to EGP 1.5bn in the first 10 days of opening reservation for the first phase of the project.
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