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Azmeel Real Estate investments reach EGP 600m - Daily News Egypt

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Azmeel Real Estate investments reach EGP 600m

Selena Bay and Fifth Settlement housing units remain the only projects Azmeel works on, but plans for expansion in the coming years are under development

During the Elite Real Estate Exhibition 2016 (EREEX), sales manager of Azmeel Group for Real Estate, Mohammed Mustafa, said that the company has available housing units worth EGP 100m in Fifth Settlement in New Cairo, as well as units worth EGP 500m in Selena Bay in Hurghada.

The Selena Bay project started in 2016 and offers 55 sqm chalets, as well as villas and luxury villas that reach 1,500 sqm with a swimming pool, Mustafa added. Azmeel will conclude Phase 1 of Selena Bay in January 2017, and Phase 2 will be completed in January 2019, he stated.

Azmeel’s housing units in Fifth Settlement are situated in the Andalus, Al-Koronfol, and Al-Mostashareen districts, among others. Their prices range from EGP 6,000 to EGP 8,500 per sqm, Mustafa added.

He explained: “We offer our clients the option of paying deposits that start from 10% of the original price for housing units in Fifth Settlement and Selena Bay.”

50% of the total units at Selena Bay have been sold by now, he stated.

Mustafa also said that clients who buy a unit in Fifth Settlement can enter a draw to win a chalet in Selena Bay.

Additionally, Mustafa explained that Azmeel is exploring the option of expanding in the North Coast, Ain Sokhna, and Ras Sedr. “We will choose the option that is best for our investments,” he stated.


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