The high occupancy rate in the North Coast, which reached 100% during Eid Al-Fitr holidays, is a strong indicator of an expected growth in sales during the summer, said Vice Chairperson of Concept Real Estate Service Al-Mutawakil Ahmed Abdel Qader.
He pointed out that rent increased significantly in the North Coast this year during the Eid Al-Fitr holiday because of the high turnout after it became the main destination for individuals to spend holidays. He noted that the development of new roads leading to the North Coast as well as the availability of recreational activities in most resorts contributed to the recent growth.
Abdel Qader added that the price hike in the North Coast made the place the best destination for investment, especially in light of high payment facilities provided by real estate companies compared to residential projects, with the possibility of leasing the units. He further added that his company is developing Siela project in the North Coast on an area of 10 acres, located in the 57 kilometres on Cairo-Alexandria-Matrouh road. It includes 650 units with areas of 50-120 square metres and a construction rate of 28%. It also includes a commercial building, swimming pools, fountain, waterfall, and games area.