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Il Cazar Developments Ventures into North Coast with Safia: A 180-Acre, 30 Billion EGP Landmark in Ras El Hikma


Cairo, 26 May 2024: Il Cazar strengthens its position as a leading real estate investment company by unveiling its new project, Safia, in Ras El Hekma area of the North Coast. This project marks a significant turning point in the successful journey of the company, characterized by its excellent strategic location and innovative engineering designs, making it an attractive investment destination. Safia is a residential and hotel project built on terraces starting from 3 meters with heights up to 40 meters, ensuring all units have a sea view.

Safia project is located at kilometer 186 on a 180-acre plot of land, allowing for the implementation of a high-quality, distinguished multi-use project. The investment value in the project reaches 30 billion Egyptian pounds, confirming the seriousness and dedication of Il Cazar in achieving the project's success and delivering profitable returns for investors.

Nader Khozam, Chairman and CEO of Il Cazar expressed his great satisfaction with the launch of Safia project in Ras El Hekma, North Coast. He emphasized that it represents an exceptional investment opportunity, especially as Ras El Hekma enjoys a distinguished strategic location and a unique tourist environment. The company is grateful for the opportunity provided by this astonishing location to execute a distinguished project that meets the clients' desires and reflects the company's strategic vision for real estate development and sustainable growth in Egypt.

Khozam added that Safia project is a real embodiment of innovation and excellence, as they strive to provide a distinctive investment experience that meets investors' aspirations and achieves global quality standards. Additionally, they look forward to this project contributing to supporting the local economy and providing new and sustainable job opportunities for the local community. The project relies on distinctive designs never seen before in Egypt, overseen by the engineer Raef Fahmy's office, specialized in designing leading urban projects, with a team of experienced engineers and specialists in this field. The designs are characterized by innovation and authenticity, embodying a futuristic vision for the project and ensuring maximum utilization of the available space.

Nader Khozam explained that construction is planned to commence in the coming period, with project completions by 2029. He highlighted the strong urban development witnessed in the North Coast recently, due to the significant implementation volume, intense competition among companies, and the state's plan to develop roads leading to North Coast. This has raised the investment value of the area, making it capable of attracting more customers, especially with the state's plan to operate the area throughout the year, not just during the summer season. Therefore, the company considered in its Safia project offering everything new, with the project's construction ratio being 15% of the total area and the rest dedicated to lagoons, landscapes, and services.

Khozam continued, stating that the company has a vision for the future period, involving selecting strategic locations for its projects and seeking investment opportunities in East and West Cairo, especially as expansion plans include numerous residential, commercial, and administrative projects, capitalizing on the significant urban renaissance in Egypt and the company's extensive expertise, in addition to strategic partnerships with various global companies and governmental entities in Egypt and UAE companies. The company is committed to delivering value-added projects to its clients and adheres to delivering units on time, as one of its strengths lies in being the fastest in construction compared to other competing companies, always starting construction first before sales.

Fady Nassif, Vice Chairman of the Il Cazar board of Directors, affirmed that the company has utilized its accumulated expertise in real estate development to ensure that Safia lives up to its name and history. The project represents a unique investment opportunity in Ras El Hekma, reflecting their commitment to delivering value-added projects that contribute to infrastructure development and enhance the local economy. The company eagerly looks forward to working on this ambitious project, reaffirming their commitment to achieving the highest standards of quality and excellence at every stage of its implementation.

Engineer Raef Fahmy, the project's consultant, expressed his great happiness to cooperate with Il Cazar, one of the leading real estate development companies in Egypt, always aiming to present new projects with different designs and fresh ideas, enabling it to compete and excel. Safia will be a significant addition, especially since it is located in a distinguished strategic area, making it an icon of North Coast. Their attention to all details, whether small or large, reflects their concern for customers and their eagerness for success. Therefore, they ensured in the design that the new project is entirely different from what is available in the Egyptian market, aiming to always enhance architectural awareness in Egypt and the Middle East through diversifying modern architectural structures. Safia is one of the completely different projects in North Coast, as they carefully studied all the existing projects in the area and succeeded in creating a unique equation, benefiting from all the available natural elements and the breathtaking natural scenery to ensure that all units have either a sea view or lagoons.

It is worth mentioning that Il Cazar is one of the leading real estate development companies in Egypt, possessing exceptional expertise demonstrated through a diverse portfolio of residential, commercial, administrative, and touristic projects. Through these projects, they have presented an innovative vision for real estate development in Egypt, including compounds like Creek Town and Creek District on the Suez Road in a prime location in the heart of New Cairo, and Go Heliopolis project, the first compound on El-Nozha Street. Additionally, “The Crest” in the Sixth Settlement, AIAN in New Cairo, and The Vill in the First Settlement, a mixed-use project, and Stoda project located in Sheraton alongside the new project “Safia”  in Ras El Hekma, North Coast.