Written by Ashraf El Hadi
With a major Egyptian-Emirati investment, Serac Developments unveiled its first project in the Egyptian real estate market, implemented in the most prestigious neighborhoods of New Cairo, a project that carries a new vision for commercial and administrative enterprises in Egypt , and bears the name City Hall.
Serac Developments is the result of a strong partnership between the Egyptian businessman Tariq Suleiman, owner of the famous Glamor jewelery groups, marlysilver and Richie jewels for diamond trading, chairman of the board of Serac Developments, and a number of Emirati partners.
The company’s first project takes place in the most important investment areas in New Cairo, where City Hall is the first of its kind in the Egyptian market, and it is located directly on the Muhammad Naguib axis, meters away from the northern ninetieth, and it consists of 6 separate buildings to provide the largest amount of open spaces and lands Skype for visitors.
The total area of the project is about 16,000 square meters, with a construction rate of 40%, with a facade of about 300 meters on the main road, and the buildings consist of 5 floors, and the project consists of two basement floors with a total area of the building, a ground floor and two floors, all of which are served by five entrances and the lowest load ratio, which is 28 %.
For his part, businessman Tarek Suleiman, chairman of Serac Developments, said that the new company is the result of an Egyptian-Emirati investment alliance, pointing out that the Egyptian real estate market is promising and attractive for investments.
And he continued that the company, even at the level of its work in the field of jewelry, seeks difference and excellence, pointing out that the selection of the plot of land was made in the same way as the jewelry so that it has a point of distinction and uniqueness, where the population density is high and in a place surrounded by good projects and representing an added value for customers.
He pointed out that what the state has provided to support this sector in recent years, and the boom the country has seen in the urban areas, was behind the launch of Sirak Real Estate Development Company, in an effort by its board to contributes to the development process that Egypt is experiencing, and emphasizes that the real estate market is strong and enjoys high demand.
Karim Mamoun, CEO of Sirac Real Estate Development Company, for his part, said that the success factors of real estate development companies consist of 4 elements: the name of the developing company, the location of the project, the general plan of the project, and finally the selling price.
He pointed out that cooperation with businessman Tariq Suleiman is a new step, given his experience in the Egyptian market, and financial solvency that makes Sirac Development Company’s competition from other companies a big challenge. This gives the company great confidence among customers, and confirms the company’s interest in the quality of its real estate products.
Mamoun added that the City Hall project is not only limited to the Fifth Settlement, but it is an idea that will be implemented in several other areas with the same name, to be a destination for international brands and customers. Point out that the project site is very differentiated and includes commercial spaces ranging from 50 to 1100 square meters and administrative spaces from 50 to 500 square meters, while offering the necessary flexibility to meet the demand of large companies and banks that require special specifications and spaces required. , and that the project offers the possibility to acquire duplexes in commercial spaces. The height of the ground floor is approximately 6 meters, and a 6-meter-wide rear service corridor has been provided overlooking the main street for the supply of products and materials which is required for shops and restaurants within the mall, without impeding the movement of visitors and visitors to those shops.
He added, during a major press conference held by the company to announce the start of its activities in the Egyptian market, that this new entity seeks to introduce a distinctive and new real estate product to the Egyptian market, which expected to be a landmark. in the field of property development.
Engineer Mohamed Hafez, Development Manager at Hafez Consultants, said that the biggest challenge in this project was the desire to launch another project based on the exploitation of the privileged location and the design of the facades on a new and modern manner.
He pointed out that the design of the project took into account the greatest benefit from all commercial and administrative units, to maximize the benefit from the project, either for the company or the client, explaining that Sirak was keen to develop a distinctive identity and imprint for the project through non-repetitive facades, giving it exceptional competitive advantages.
Engineer Hani Saad, founder of Hani Saad Innovations, which is responsible for the implementation of interior designs, decorations and landscaping in the City Hall project, for his part confirmed that the project site put it in fierce competition with its neighboring projects, like everyone else. capabilities have been harnessed to provide the best interior design for the units and the best experience for project visitors through the integration of project elements of design, implementation, interfaces, interior design and operation.
Saad explained that the development that took place in the real estate market during the recent period made the company eager to design and implement a landscape that corresponds to the nature of clients and their uses, indicating that the orientation towards open spaces the company has encouraged a good experience to take advantage of the landscape of the project.
English Haitham Al-Shennawy, chairman of the “ValU” company, for his part confirmed that the role of management and operating companies in the recent period is no longer a luxury, pointing out that real estate projects are in fierce competition for supply to make. the best operation and management service for administrative and commercial facilities.
He pointed out that the management and operation of the project is the biggest guarantee for the success of the project, especially since each stage includes several challenges that had to be overcome, and explained that the identification of the beneficiaries of the project enables the management companies set to determine manners. to meet their requirements.
In the same context, Eng Mohamed Diab, CEO of Envirgen Real Estate Development Consultancy, confirmed that the company is working on the project to create a competitive advantage for clients that contributes to achieving good returns for clients and the company. Point out that the objective is to achieve a good return for the developer and the client by creating continuous added value throughout the project, in addition to increasing it over time to ensure the best return on investment for the client.
It is worth noting that Sirak Real Estate Development Company owns a diversified portfolio of land between the North Coast, New Cairo, the Administrative Capital and a number of new cities.