Egypt: Al Ahly Sabbour reports 400% sales growth in H1 2024

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Egypt - Al Ahly Sabbour Developments, a leading real estate developer in Egypt, reported impressive sales divs for the first half of 2024, reaching EGP 25.5bn, a 400% increase from EGP 6bn during the same period last year.

The company attributed this remarkable growth to its evolving strategy and the strong customer trust in its brand and projects, particularly the flagship developments At-East in Mostakbal City and Summer in the North Coast.

The At-East project in Mostakbal City has achieved record-breaking sales of EGP 7.8bn in its first phase, nearly reaching the annual target of EGP 8bn. With a total investment of EGP 35bn, the project has seen strong demand, exceeding the available units for the initial phase.

This underscores Al Ahly Sabbour’s leadership in Mostakbal City, where the company owns the largest land area – 1,000 feddans – and has already established a solid reputation with six successful projects, including Rare, The Ridge, Alaire, Woodwalks, Green Square, and L’avenir.

Developing the project on the last plot of land in the first phase of Mostakbal City is a key advantage, as it ensures that all facilities and services in the area will be fully developed by the time the units are delivered. Residents will have access to a comprehensive range of amenities, both within the project and across the entire first phase of the city.

On the North Coast, the Summer project has surpassed its annual sales goal of EGP 15bn, generating EGP 16bn from the launch of its first phase. Spanning 864 feddans, Summer is Al Ahly Sabbour’s largest project in the region, following Amwaj and Gaia. This project highlights the company’s commitment to creating exceptional residential communities that embody innovation and luxury, further solidifying Al Ahly Sabbour’s position as a market leader.

“I am proud of the remarkable sales achievements we’ve accomplished in a record time, a milestone we reached thanks to the dedicated efforts of our team,” said Ahmed Sabbour, Chairperson and Managing Director of Al Ahly Sabbour. “Al Ahly Sabbour is currently guided by an ambitious strategy aimed at the ongoing development of all our projects and our overarching vision. This approach ensures that we maintain our leadership in the Egyptian real estate market and continue to deliver real estate solutions that cater to the evolving needs of our clients across generations.”

At-East, a fully integrated residential project spanning over 181 feddans, offers a distinctive blend of elegance and luxury. The development features a diverse range of housing options, including villas, twin houses, townhouses, and duplexes. Each unit boasts modern designs and stunning views of expansive green spaces and water features.

Residents of At-East enjoy a variety of integrated amenities designed for comfort and convenience, including a jogging track, kids’ area, a co-working space, a mosque, a central park, a club, and a commercial zone. The project’s prime location adds to its appeal, being situated near major roads such as the Middle Ring Road, directly opposite the Canadian University and the New Olympic Village in the New Administrative Capital. It is also just 3 minutes from the Suez Road, ensuring easy access to essential facilities and services.

Located in the heart of the North Coast, Summer is just 246 kilometres from Alexandria-Matrouh Road. The project offers a diverse selection of units, including villas, twin houses, townhouses, duplexes, chalets, and cabins, all with breathtaking views of the Mediterranean Sea. Summer’s design embodies the unique “Serpentine – Braids of Life” concept, seamlessly integrating various water features to blend nature with contemporary living.

Al Ahly Sabbour collaborated with the global firm WATG for master planning,alongside architects from YBA and MIMAR for engineering and design. The project is designed to cater to all age groups, offering a unique mix of commercial facilities, diverse recreational activities, and swimming lakes that make up 85% of the development. Summer also features extensive spaces for sports and relaxation, making it the ideal summer destination for everyone.