This phase features small and diverse office spaces with meeting rooms and a reception area
The targeted sales for the second phase of the project worth EGP 480m
Company has invested EGP 220m in construction during the first half of this year
Areva Developments has unveiled the second phase, Glare Business Studio, of its prestigious Glare project in New Cairo, in conjunction with the Cityscape Egypt exhibition happening from 25-28 September.
This phase is regarded as one of the project’s most exceptional, showcasing office spaces designed around the concept of working environments. It comprises small and varied areas with private entrances and reception areas that provide beautiful views of a private terrace and lush landscapes.
Furthermore, it includes designated smoking areas, meeting rooms, waiting areas, and fully equipped rooms that radiate luxury, along with designated spaces for relaxation and refreshments.
Eng. Amr Yassin, Chairman of Areva Developments, announced that the company recorded sales of EGP 162m in 2023, with a goal of achieving EGP 250 million in sales during the fourth quarter.
Yassin said that the sales target for the second phase is set at EGP 480m. The company employs a unique sales strategy, launching the project in phases that correspond to the actual construction progress to prevent any discrepancies between sales and construction rates.
Furthermore, Areva is ramping up its construction efforts, having invested EGP 220m in the first half of this year, which has led to significant progress in constructions, he noted.
He added that the company has expansion plans in Egyptian market for the upcoming periods and aims to establish distinguished projects in east Cairo, specifically in New Cairo, elaborated that the company intends to announce a new project during the first quarter of 2025.
He pointed out that the company has chosen a prime location for its first project in the Fifth Settlement, having acquired a plot of land in the first sector measuring 6,880 sqm to create a large medical clinic and office complex with a total built area of 33,000 sqm.
Yassin disclosed that the Glare project has garnered significant interest from clients due to its unique location on the main Northern Teseen Street and the rarity of projects like Glare.
He explained that the project comprises commercial and medical offices with a ground floor and seven repetitive floors.
Areva Developments, established in 2021, is one of the development companies within the Areva Group, which has been a leading player in the real estate and tourism development sector in the Egyptian market for over 38 years.
It was established by a large investment group that has distinguished itself in the Egyptian market since 1986. The group possesses extensive expertise in various fields, including tourism and real estate investment, as well as other significant economic sectors.
It has successfully completed numerous urban projects, such as Nozha Beach project in Ras Sedr, which is considered one of the most important tourism projects in the area. Additionally, the group owns the Nozha International Schools, a leading private school network in Egypt, along with several other real estate ventures. The company is also active in agricultural reclamation and has achieved significant success in this area, as well as in the export of agricultural products.
In the coming period, the group aims to make a significant impact in the real estate sector by launching several contemporary projects in distinguished urban cities across Egypt. These projects are expected to surprise the market upon their release, as the group seeks to secure a leading position among the top real estate development companies in Egypt, especially given its possession of all the essential elements to achieve this goal.