Cairo, Egypt,12 Sep. 2024: IL CAZAR for Urban Development is preparing to launch the second phase of its 'The Crest' project in New Cairo, with expected total sales reaching EGP 4 billion. This will be part of their participation in the Cityscape exhibition. The company will also offer special deals for the 'Safia,' 'Creek Town,' and 'Go Heliopolis' projects."
The second phase of the 'The Crest' project is set to include 200 units, comprising residential apartments, duplexes, villas, and townhouses, with sizes ranging from 85 to 330 square meters. These units feature distinctive architectural designs by the office of architect Raef Fahmy. All units will offer stunning views of the green spaces and water features that cover 83% of the project area, which spans 158 acres.
IL CAZAR has achieved sales of EGP 5 billion in the project since the beginning of this year, out of a total expected sales of EGP 4 billion for 2024. The company is set to complete construction of the project, with an investment of EGP 30 billion, within the next three and a half years starting from this year. The handover of the project's units is scheduled to begin in 2027.
"The Crest" is located in a prime spot in the Fifth Settlement, at the intersection of the Middle Ring Road and South 90th Street, just five minutes away from the New Administrative Capital, the Ain Sokhna Road, and the American University in New Cairo.
As for the 'Safia' project, which is the company's latest development, it is a residential and hotel project located at Kilometer 186 on the North Coast in the Ras El Hikma area. The project spans 180 acres, with a total investment reaching EGP 60 billion.
The project is built on terraces, with heights starting at 3 meters above sea level and reaching 40 meters, above sea level, ensuring that all units have sea views. It features a unique design by the office of architect Raef Fahmy.
The project's built-up area is 15% of the total space, with the remaining area allocated for artificial lakes, green spaces, and amenities. The project is scheduled for completion in 2029.
The company has so far achieved sales of EGP 11.8 billion.
At the Cityscape exhibition, taking place from September 25 to 28, IL CAZAR will offer special promotions across all its projects.
One of these is the 'Creek Town' project, a luxurious residential development spanning 100 acres on the Suez Road, strategically located in the heart of the First Settlement. The project, with a built-up area of approximately 20%, features 1,500 diverse residential units, including apartments, townhouses, twin houses, and villas, with sizes ranging from 120 to 400 square meters. All units boast distinctive views of open spaces, green areas, and water features that cover 80% of the project's total area.
'Creek Town' includes comprehensive sports facilities, green areas, and a dedicated sports club. Additionally, the 'Creek District' is a commercial and administrative project featuring office and retail units along the New Suez Road.
The total investment for 'Creek Town' is EGP 11 billion. The company has achieved sales of EGP 5 billion this year, out of a targeted EGP 4 billion for 2024. Construction on the project, managed by Shaddad Construction, is 95% complete, and the company has begun delivering units this year.
The 'Go Heliopolis' project, which is the first residential complex in the Heliopolis district, covers an area of 18,000 square meters with a total investment of EGP 5 billion. It is a mixed-use development combining residential, commercial, and administrative spaces.
Il Cazar has successfully delivered 246 units in 'Go Heliopolis,' which includes 1,000 units in total, ranging from residential, administrative, and commercial to medical units, with various sizes to meet diverse client needs. The company has achieved EGP 2 billion in sales this year, out of a targeted EGP 2 billion.
Il Cazar Urban Development is a leading player in the Egyptian real estate market, developing 8 projects across residential, commercial, and administrative sectors on nearly 1,400 acres in prominent locations in East Cairo and the North Coast. This year, the company has delivered approximately 500 residential units and 100 commercial and administrative units, with plans to deliver 1,000 residential units by the end of 2025, in line with its commitment to delivery schedules and client agreements.