Al Ahly Sabbour starts delivering Green Square making it the first operating residential compound in Mostakbal City. Rare will be developed over two phases, the first of which will be delivered during Q3 of 2025.
Cairo March 23rd, 2021 – Al Ahly Sabbour, Egypt’s leading real estate developer announced the launch of its latest residential project, Rare. Located within Mostakbal City, the project spreads over 59 acres and offers 670 townhouses. Rare sees a total of EGP 770 million in construction costs, while delivery of phase I is projected for Q4 of 2025 and will comprise 306 units.
Ideally located 37 km east of Greater Cairo, Rare is in close proximity to New Cairo City from the west, and the New Administrative Capital from the east, as well as the Cairo International Airport.
“Choosing the right location for any project is key, especially when it’s a residential endeavor; it has to be accessible through (road networks) and features premium-quality social infrastructure that includes schools, universities, entertainment and recreational areas. This is what we at Al Ahly Sabbour found in Mostakbal City with its masterplan comprising a comprehensive system that caters to the various needs and patterns of modern, day-to-day lives,” said Eng. Ahmed Sabbour, CEO of Al Ahly Sabbour.
Eng. Sabbour highlighted that the entity’s unique expertise, vision and capabilities ensure the efficient and influential implementation integrated solutions that stand out and have an impact on not only the company’s projects but the areas surrounding them as well.
“The significant increase in the development of fourth-generation cities around Egypt gives us developers an opportunity to add more value to our endeavors through partnering a myriad of global experts. We have been working towards providing Al Ahly Sabbour residents with top-notch integrated facility management (IFM) services; which is why we focused on finding the right partners who could offer their expertise,” added Eng. Sabbbour highlighting the company’s recent partnership with the UAE’s Eltizam Asset Management Group as it launched Tafawuq Egypt and Three60 Egypt to introduce premium-quality (IFM) and community management (CM) services to the Egyptian market.
It is worth mentioning that Green Square, Al Ahly Sabbour’s project in partnership with KSA’s Dar Al Maali for Development and Real Estate Investment, started delivering units in phase I, which comprises 830 units, and is projected to start delivering phase II by June 2021.
Green Square, which will be Mostakbal City’s first operating residential compound, will see total investments reaching EGP 1.08 billion, with a target of EGP 2.08 billion in sales. The project covers an area of 80.21 acres, and offers of 1167 units including apartments, duplexs, and townhouses.
Al Ahly Sabbour has a long-proven track record in the market as a leading real estate developer. Over the course of over 25 years, the company has successfully developed 62 major projects in diverse fields including residential, retail, office buildings, touristic, social and sports clubs in prime areas in Egypt on over 12 million square meters.
Al Ahly Sabbour’s projects in Mostakbal City have been seeing tremendous progress; apart from the launch of Rare, which will be developed over two phases, construction for neighboring projects The Ridge, Alaire, and Alaire Park, is moving according to schedule.