Akam AlRajhi mulls expanding into new projects in Egypt and Saudi Arabia
The project is located on 125 acres on one of the most beautiful beaches in the world in Ras El Hekma city
CEO of Akam AlRajhi Developments Edrees Mohamed revealed the company’s intention to enter the Saudi market soon, especially since there are serious studies for a number of projects in light of the major urban renaissance that the Kingdom of Saudi Arabia is witnessing.
Realty Catalogue sat down with Edrees Mohamed to learn more about the company’s business strategy and the details of D.O.S.E project in North Coast.
Mohamed said that the company has an ambitious plan to expand within the Egyptian market as well by launching new urban projects during the coming period. The company is currently studying a number of investment opportunities that are in line with its approach to developing sustainable and unique urban projects in terms of services and engineering designs, which will be an essential source for deepening the concept of quality of life and happiness within all of its projects.
Preparing a new masterplan for the North Coast that will put Egypt on global tourism map and attract more foreign investments
Edrees added that Akam Al-Rajhi Developments, since its inception in Egyptian market, has relied on a clear strategy in terms of choosing prime locations of its projects in the best investment places in Egypt. In addition to, taking into account architectural designs and unique entertainment services that the project provides to its residents to achieve the highest rates of happiness, comfort and luxury, and this is what was taken into account in the D.O.S.E development. The project has achieved great customer demand since its launch in the Egyptian market, achieving a sales volume approaching EGP 5bn.
He pointed out that the company launched its innovative resort, D.O.S.E, in Ras El Hekma area in the New North Coast, with a total investment estimated at about EGP 8bn on 125 acres, with a number of new and unique services in this very vital area in New North Coast.
Edrees noted that the company’s strategy and plans during the coming period depend on expansion in the best vital areas in Egypt, which is in line with the state’s development plans.
The D.O.S.E project offers the market innovative philosophical thinking to give its customers the highest levels of happiness.
He explained that the urban renaissance that Egypt is witnessing now has given a strong and great motivation to Egyptian companies and Arab and foreign investors to expand the Egyptian market. In addition, seize the opportunity of the state’s expansion in establishing new cities and urban projects, especially in fourth generation cities, and the state’s interest in developing North Coast region through unifying the state authorities. Besides, preparing a global plan for the development of the region, which will directly contribute to placing Egypt on global tourism map and achieving sustainable development in the region.
He further pointed out that the company was keen to develop a mega project on a beach with a sea front of 450 metres, in the middle of wide bodies of water and open areas representing 70% of the project area. Besides, an area of 9 acres consisting of artificial lakes to provide a water view for all units so that all units, even those far from the sea, have a direct view into the water. In addition, more than 60% of units have sea view, 30% with a full see view, and only 10% of the units overlook lakes and swimming pools. Over and above, the resort comprises 30 tourist caves containing private swimming pools to ensure privacy with a panoramic view of the sea and the entire project.
The biggest challenge we faced was developing fundamental solutions before launching the project for all coastal residents problems.
The development also provides a diverse and comprehensive range of services and amenities, including distinctive serviced residences and a luxurious 5-star international hotel, a shopping mall, a private beach, a central kitchen, special places for various children’s activities to develop special skills through play and creativity, restaurants, cafes, and a private club for members. Moreover, D.O.S.E includes seven lagoons throughout the project, a number of infinity swimming pools, a gym overlooking the sea, and a medical center equipped at the highest level to provide all customers needs.
Additionally, Akam Al-Rajhi Developments has signed a cooperation protocol with IHG Hotels and Resorts, one of the leading hospitality companied in the world, to manage and operate the voco hotels within the D.O.S.E project. Akam Al-Rajhi’s first business in Ras Al Hikma will be the first hotel to hold this brand in the world for hotels on the Mediterranean coast.
IHG Hotels and Resorts group in general and the voco brand in particular have a distinguished global position with a distinct and well-established imprint in the Middle East and Africa region and through its presence in several locations in the UAE and Saudi Arabia. Therefore, it will be a very strong step as the first hotel resort.
We signed a cooperation protocol with IHG Hotels and Resorts to manage and operate voco hotels in the D.O.S.E project in the North Coast.
As for the company’s plans to expand during the coming period, the CEO confirmed that the company’s strategy and plans during the coming period depend on expansion in the best vital areas in Egypt, which are in line with the state’s development plans, especially in coastal and new cities, which will contribute directly to putting Egypt on global tourism map. Accordingly, the company cooperated with IHG Hotels and Resorts.
voco hotel within D.O.S.E project will comprises 300 serviced units, chalets and twin houses directly on the sea, providing an endless and amazing 360-degree view of the beach and providing all the entertainment and tourism services of the project, natural landscapes, artificial lakes, swimming pools, a health club, running and cycling paths, a shopping center and a park. In addition, Dose Aqua Park to provide the highest levels of comfort and happiness to residents.