Themar for Real Estate listed the Montazah Elegance compound project in Alexandria,for sale. The company already received offers for partnership from a number of real estate companies.
Themar Chairman Maged Abdel Fadeel said the Montazah Elegance compound project occupies an area of 4,200sqm in Montazah, Alexandria near the Sheraton Montazah and the Corniche. The project features a number of connected towers, each with 11 floors and include 180 housing units. The housing units range in size between 160 and 170sqm, while commercial complexes are 3,000sqm in size. The project has been completed and the units are ready for purchase.
The project is being developed in cooperation with the Egyptian Emirates group, which has overseen construction, while Themar manages development and marketing for the project. The Montazah Elegance compound is registered at the notary office and linked to all facilities. Abdel Fadeel said the marketing work will be completed in four months.
He said they entrusted a consulting company with the study to make the best use of the 3,000sqm commercial complex. The consulting company will also decide as to whether to put the complex up for public auction or market it directly.
Abdel Fadeel said the company prefers to offer completed projects to maintain the trust between the company and its clients, in addition to its position in the market, as a number of companies often deliver units later than the agreed deadline.
The company received offers from a number of real estate companies seeking partnerships in projects in development phase to use Themar as a marketing company for its expertise in the field, where it has developed a number of similar projects. However, the company prefers to finish its ongoing projects in the North Coast and Alexandria.