Nathan Yaacob Prime Development Chairman, revealed the company’s readiness to pump Egyptian-Kuwaiti investments, to launch new investment projects within days in both the Administrative Capital and Hurghada, according to the company’s strategic plan during 2022, which depends on expansion in implementation of distinguished projects and in unique locations,as since launching the company in the field of real estate development, has chosen the sites of its projects very carefully in the best places and locations in order to enhance the projects’ investment value and achieve the highest investment rates for all its real estate units.
Yaacob added in press statements on the sidelines of the company’s Iftar party, that their experience in real estate development field extends for about 14 years in Red Sea Governorate, during which they implemented about 19 tourist and residential projects, and through which the company was able to be at the forefront of the list of the most important real estate development companies in Hurghada as a result of adhering to deadlines of delivery, quality and splendor of the designs of its projects according to the highest standards, and thus obtaining clients confidence, which made them think about expanding their projects and diversifying investment opportunities for their clients by offering new projects in other areas that attract investment outside Red Sea governorate, thus the company found that the New Administrative Capital is the best project as it is one of the most attractive projects ever, pointing that they are preparing, within few days, to launch two new projects with joint Egyptian-Kuwaiti investments, one of which is an administrative, commercial with integrated services, in one of the most distinguished places in the Downtown, in the heart of the Administrative Capital, with a building area of 10,000 square meters consisting of ground and 12 floors, fully finished with direct view on the central garden, minutes away from Egypt mosque, the gold market and People’s Square and monorail station.
Yaacob explained that the second project will be in Hurghada, which is a coastal project directly on the sea, consisting of hotel units with a distinct design, and includes all basic and entertainment services from a private sandy beach, swimming pools, landscape, gym, restaurants, aqua center for marine sports, a diving center, an underground garage, security and guarding, assuring that the company in addition to its expansion plans that it has set in order to spread in a number of areas inside Cairo, but investing and pumping investments in Hurghada will continue, as they are one of the most important and most trusted companies in Red Sea Governorate, in addition to their convictions that Hurghada is one of the most attractive and most important cities in Egypt, in terms of its capabilities and unique advantages in implementing the real estate export initiative recently adopted by the state, pointing that most of the company’s projects in Hurghada are owned by foreigners and Arabs.
He added that they keen during the current period on contracting with the best consultants in the market to implement their strategy for expanding the company’s projects, as the company contracted with real estate consultants Ali Jaber and Magdy Wehba to develop strategic, marketing, administrative and sales plans to ensure achieving the targeted expansion plan and presents a distinctive product to the market capable to compete during the coming period, referring to the study of a number of offers now for contracting with a service management company before starting to launch or implement projects, in order to achieve the highest international standards in operating and service procedures in projects to ensure sustainability and quality.
Yaacob indicated that the company’s vision depends mainly on making a real difference in the field of real estate development during the coming period aligns with the unprecedented urban development that Egypt is witnessing now, providing a real estate product that enjoys luxury and all services, and maintaining trust and credibility that the company gained during its work years in the Egyptian market, pointing that they have an organized and deliberate plan to implement a number of diverse investment projects that contribute in the growth of the national economy, especially within the economic and political stability that Egypt is witnessing now amidst many global crises, which made the Egyptian market the most attractive one for investments.
It is worth saying that “Prime Developments” was established in 2008 and owned a distinguished precedent in Red Sea Governorate, where it implemented many coastal projects, including for example “Al Kawthar Heights – Premier Buildings – View Aqua” and its projects were characterized by excellence, innovative designs and quality of implementation as well, besides the company gained the confidence of its clients due to the commitment in delivery times and the highest levels of quality.
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