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| Eng. Mohamed Edris |
Mabany Edris, a prominent real estate developer, has officially unveiled the second phase of their highly anticipated project, "Koun," in the picturesque and strategically positioned in Ras El Hikma, following the overwhelming demand of the first phase and complete sold-out entirely upon its announcement, reflecting the immense trust and admiration for the company's exceptional designs. This latest development further emphasizes Mabany Edris' steadfast dedication to providing unrivaled quality and innovation within the real estate industry. Boasting a prime location in the North Coast at 201 km on the Alexandria-Matrouh Road, the project spans over 447,657.5 sqm with total investments of about EGP 6 billion as a part of the company’s expansive growth strategy across its diverse portfolio of projects.
Eng, Mohamed Edris, CEO of Mabany Edris has expressed his profound satisfaction with the remarkable demand and successful completion of the 1st phase of “Koun”, affirming that the trust of our clients motivated us eagerly to consistently offer distinctive real estate products that cater to their needs as well as fulfilling the company's ambitions in harmony with the substantial advancements in the North Coast. With full confidence in the company's success, Eng. Mohamed Edris elucidated that their technical and human capabilities, coupled with their expertise, as the driving forces behind their ability to achieve excellence in this domain.
Edris stated that "Koun" is a completely different project, and the construction work will start after the conclusion of the summer season, specifically in the last quarter of 2023. The first phase deliveries are expected within 4 years, necessitating diligent efforts to meet deadlines, where the project consists of 4 phases and the 2nd phase launch comes as an essential part of the company's well-defined plan to adherence predetermined schedules, the sales of the first phase was successfully concluded with a total sales of EGP 2 billion. The second phase includes 410 units, with projected sales of EGP 1 billion during the current year, 2023. A budget of EGP 300 million has been allocated for construction works while providing the necessary facilities to support the project team in meeting the specified timelines and providing a high-quality product as the company boasts a commendable track record of achievements over the years.
Furthermore, Eng. Mohamed Edris revealed that the availability of a waiting list consisting of clients who were unable to acquire units during the first phase served as the primary driver for launching the second phase, which includes a range of units with various spaces and pricing options designed to meet the clients' needs, confirming that the company takes into consideration the future potential changes in building material prices when determining the pricing structure. Additionally, he underscored the diverse demand for units in the company's projects, with clients pursuing them for either residential or investment purposes. The decision to select the Ras al-Hikma area in the North Coast aligns with the company's vision of providing distinguished locations for clients, given the region's unique moderate weather conditions prevailing for most of the year.
"Koun" project stands out with its innovative designs, where all units have a waterfront view. This project represents a rare investment opportunity that seamlessly merges the enchantment of nature with contemporary opulence, our residential units boast an exclusive design that affords clients breathtaking views of the mesmerizing turquoise waters that envelop the vicinity. Whether residents choose a sea or lagoons-facing unit, the visual splendor is unmatched. Furthermore, this project offers an array of cutting-edge facilities, including lagoons, clubhouse, swimming pools and recreational spaces, providing a modern and lavish lifestyle. Advanced security systems and constant surveillance are also in place to ensure the utmost privacy for the residents. Additionally, the project places great interest in environmental sustainability and the preservation of the surrounding environment.
"Koun" project includes a range of standalone villas, twin villas, townhouses, duplexes and chalets, all meticulously designed in a distinctive and contemporary manner. This endeavor sets unprecedented benchmark for innovation in the region, offering an unparalleled experience on the North Coast. Notably, "Koun" project represents Mabany Edris's first residential, entertainment, and tourist project in the North Coast. Through this project, the company aims to add significant value to the real estate market, ensuring clients a sound investment with prices that align with its investment value. Furthermore, we place great emphasis on services, and maintenance, as a part of our unwavering commitment to present the highest levels of quality and customer service, we aim to reinforce our ambition to be a trusted partner in achieving success and excellence in the field of real estate.
It is noteworthy that Mabany Edris is one of the leading real estate developers in Egypt with more than 20 years of experience in the real estate market, throughout this period, the company has curated a diverse portfolio encompassing residential, commercial, administrative, tourism, medical, and industrial projects in Cairo and various governorates. These projects have showcased an innovative vision for real estate development in Egypt, epitomized by the Green Projects series. The Green Projects series comprises residential compounds such as Green 1, Green 2, Green 3, Green 4, Green 5, and Green 6, along with Asayla Compound in New Assiut and Mansouria Residential Complex. Furthermore, Mabany Edris Company has undertaken the development of Palm Gardens complex, and commercial ventures like The Block commercial and administrative project, as well as the Central Avenue project, which features a commercial mall. Medical projects include the Rofayda Medical Complex in Sheikh Zayed City, while industrial projects encompass the Masreya Warehousing and Touristic projects. Lastly, the company has delved into tourism ventures with the Holiday Inn Asayla Hotel in New Assiut.
Mabany Edris began its journey more than 20 years ago, as it was established since 1998, and its history is rich with honorable achievements that came from hard work. It is a family business, as it was established in cooperation between members of the (Edris) family. Mabany Edris offers innovative projects that keep pace with modern developments, and relies on advanced methods and technologies to achieve sustainable development, in order to satisfy all its clients. The record of Mabany Edris, from the beginning of its inception until now, is very honorable, as each project testifies to its great experience and unparalleled creativity, whether in the establishment of residential, commercial, administrative, medical or industrial projects, and it has a number of projects, including the Green Projects series, which are residential compounds with the same name (Green 1, Green 2, Green 3, Green 4, Green 5, Green 6) and Asayla Compound in New Assiut., Mansouria Residential Complex, the development of Palm Gardens, and commercial projects represented in The Block commercial and the administrative project, Central Avenue, which is a commercial mall, In addition to medical projects represented in the Rofayda Medical Complex in Sheikh Zayed City, and industrial projects represented in the Masreya Warehousing, and finally Touristic projects represented in the Holiday Inn, Asayla Hotel in New Assiut.