Egypt - RAQ Development announced the launch of its Zawat Residence project in 10th of Ramadan City, spanning over 20 feddans, with investments exceeding EGP 6bn.

Chairperson of RAQ Development Wael Abu El-Saud stated that Zawat Residence will offer a range of competitive advantages, tailored to fulfill the diverse needs and preferences of customers from various segments.

Chief Commercial Officer of the company Ahmed El-Badry said that the project will be developed in multiple phases, noting that over 40% of the first phase was sold within just six hours of the project’s launch and opening for reservations.

El-Badry added that the company’s name, which is derived from the concept of elegance, reflects their philosophy in work and development.

He said that the company contracted with top consultancy firms and renowned planner Maher Stino to design the Zawat Residence. Stino, a distinguished div in urban planning, provides deep insights that contribute to the professional and comprehensive development of projects, supporting the company in achieving its ambitious goals.

He added that the time has come to change the negative perception of the 10th of Ramadan City, and the company is committed to being part of this positive transformation. He explained that their project marks a fresh beginning for the city, emphasizing that success will not be measured solely by profits, but by the positive impact these projects can have on people’s lives.

Chairperson of the Board of Trustees of 10th of Ramadan City, Mohamed Helmy, affirmed that the city urgently needs to better utilize its resources to enhance its attractiveness for investment.

He noted that there are ambitious plans to create a suitable environment for both residents and investors, which will contribute to improving the quality of life in the city.

Stino emphasized that sustainability standards and smart home features were carefully considered in the project’s design, making it a milestone in the Egyptian real estate market and an ideal environment for exporting Egyptian real estate abroad.

Stino also pointed out that the development of 10th of Ramadan City serves as a model to be followed, where new residential and commercial projects support the local economy and provide new job opportunities.

Meanwhile, Alaa Abdellah, Head of the 10th of Ramadan City Authority, stated that the city is not just an industrial hub but also an exceptional investment city, striving to become a model for urban development.

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