Community character of Emaar Misr's Marassi wins over investors

Emaar Misr, the wholly-owned subsidiary of Emaar Properties, has released a special collection of villas and townhomes in two residential districts of the resort development.

With close proximity to a golf course or beachfront and lifestyle amenities such as community meeting areas, swimming pools, pool cabanas and children's play areas, the two integrated residential villages exude a close-knit community character.

Mr Sameh Muhtadi, Chief Executive Officer of Emaar Misr for Development S.A.E., said:

"The demand for world-class residential properties is growing in Egypt. Marassi and Emaar's other master-planned communities in the country meet this demand. As the first sales event this year, the strong investor response to the homes in Marassi highlights investor trust in Emaar and in our ability to deliver our projects on-schedule and to the highest standards".

The EGP9.92bn Marassi is located on Sidi Abdel Rahman and Alamein, and brings a new era of growth to the North Coast through Emaar's vision of creating a harmonious community that blends nature, luxury and healthy upscale living.

An all-year round destination, Marassi stands out for the elegant and varied architectural styles of its various components, and lifestyle components including a Marina, boutique hotels, an 18-hole golf course and retail & leisure amenities.

"Emaar is currently focused on the execution of all our projects according to plans. Having consolidated our market presence last year, we will be conducting more sales launches this year, and the strong response to our first launch in Egypt this year will give us more growth momentum," added Mr Muhtadi.

The Mesa Seville and Savona villas at Marassi, which were offered on sale at the Uptown Cairo Sales Centre, have a plot area of 600 to 1,200 sq m and built-up area of 430 to 700 sq m. The townhomes range in built-up size from 340 to 390 sq m on plots of 400 sq m area.

Designed by international architects - Bassenian Lagoni JZMK - the homes have quality finishes and modern infrastructure, and use luxury building materials.

Mesa Seville villas are two-storey golf villas with Spanish architectural styles offering spectacular views of the expansive greens of the golf course and meandering waterways. The homes will also be in easy access of a community clubhouse and beach.

The Savona villas are beachfront homes set around shimmering lagoons and waterways. The community will have world-class shopping, dining and entertaining venues.

Mr Mohamed A. El Moshneb, Senior Director - Development, Emaar International, said: "The customer interest in Marassi is driven by the world-class standards Emaar ensures and by the strategic location, offering a 6 km beachfront and easy access to tourist spots. Marassi can easily be accessed from European, Levant and Gulf markets through two international airports - Burj El Arab and El Alamein".

He added: "With Marassi, Emaar's vision is to create a self-served Mediterranean beach town with a picturesque and active town centre that will be a hub for shopping, socializing and entertainment in the region. The quality of services, the architectural elegance and location will contribute to enhanced well-being for Marassi residents".

Marassi is spread over 6.25 million sq metres and has seven districts with distinctive architectural styles: Marassi Marina (Egyptian style); Port Zarsis (Tunisian, Spanish and Andalusian); Safi Sands (Moroccan); Valencia Residences (Spanish); Altea Resort Villas (Spanish); Santorini Hillside Village (Greek) and Savona Villas (Italian). When completed, Marassi will also have 3,000 hotel keys and serviced apartments; a concert hall cum performance venue; spa and wellness facilities; and elegant water features.

Emaar Misr is one of the largest foreign direct investors in the country's real estate sector with a development portfolio of EGP31.67bn.

In addition to Marassi and the EGP12bn Uptown Cairo, the company is developing two new projects in Egypt - a mixed-use community in Cairo - the EGP5.75bn residential community located at the fifth district New Cairo City; and the EGP4bn commercial cum residential development on the Cairo - Alexandria desert road, which also features the largest outdoor shopping and entertainment destinations in the country, Cairo Gate.