Metawee Group pumps 750 million pounds investments in “Blue Blue” Sokhna Resort to support the real estate market and Egyptian economy
According to its new expansion plan in the real estate sector in Egypt
Mohamed Metawee: Real estate projects are the backbone of the economy and Metawee Group is keen to support and develop it through enormous investment projects
Metawee Group announced launching its new project “Blue Blue” this month with a total investments of 750 million pounds, as a step to support the Egyptian economy and develop the real estate market in Egypt; given that the real estate is the fastest growing sector and the backbone of the economy and investments.
The new project lies in the area of windmills and renewable energy, 30 km from the mountain in Zafarana road in Ain Al Sokhna on an area of 121 thousand meters. This great location provides the resort with clean air, pure water and a quiet charming sandy beach.
Mohamed Metawee, CEO of Metawee Group, stated that “Blue Blue” Sokhna is a self-financed project with an investment value of about 750 million pounds and includes 700 Residential resort units in a prime location divided into a variety of areas which will suit the needs of different families starting from 100 meters and up to 300 meters. The resort has excellent services such as shopping malls, restaurants, hotel, in addition to gym on the beach, volleyball play grounds, Aqua Parks for children and private pools.
He mentioned that all the resort units overlook swimming pools and the project is designed on levels so that all units can overlook the sea.
Metawee added that “Blue Blue” project provides 5000 daily labor jobs and utilizes the skills of 120 engineers and supervisors till it’s completed. The grand investments’ project seeks to push the Egyptian economy, the labor market as well as increasing investments in Egypt and provide more job opportunities to achieve benefit for the Egyptian society, which is Metawee Group’s targeted scheme.
Metawee said that “Blue Blue” resort is also in line with the new expansion plan that the Group adopted which seeks to enter new markets in the tourism investment sector in North Coast, Ain Sokhna and the real estate sector in New Cairo, new Heliopolis, Sheikh Zayed and October, as well as developing its business to include administrative and commercial fields.
Metawee pointed out that registering for “Blue Blue” resort will start this July with facilitations in payment up to 5 years without benefits and the first installment starting from 10%. He added that the project is divided into 4 areas which are: Island, Lake View, Sea View and Water Front. The project features 12 thousand meters of water bodies in the resort, the chalets are also designed to be surrounded by water in addition to their presence in windmills area.
Metawee affirmed that all the project units will be delivered within 3 years, he also stressed on the Group’s commitment to provide real estate and tourism projects that benefit the Egyptian real estate wealth and the Egyptian society. He added that he’s confident and proud of the constant success achieved by Metawee Group in all its projects which comply with all the technical specifications and the highest quality in raw materials used while committing to the units’ delivery dates and outstanding post-sales services.
It is worth mentioning that Metawee Group launched several projects including “La Vida” Compound in Heliopolis city which comprises 500 units with the first phase completely sold out and 85% of the second phase is underway while the third phase kicking off in July 2015. The company is currently carrying out “Sky View” project in Fifth Settlement and plans to develop several real estate projects as it seeks to implement a new plan for administrative and commercial development in Fifth Settlement.