Raaed Developments announced the beginning of construction works of ROOTS project in New Sohag, with total investments worth approximately EGP 1.8bn, based on the company’s commitment and keenness to develop and deliver the project in specified dates.
Hisham Al-Sentrisi, CEO of Raaed Developments, said that the company is working at full capacity to develop ROOTS compound according to the schedule set for the construction phases. Accordingly, the company has provided all capabilities and financing to speed up constructions of the project in order to reach the highest construction rates.
Al-Sentrisi pointed out that the strength of the company’s financial solvency encourages it to begin constructions before marketing the project.
He elaborated that building part of the project before marketing supports customer’s decision-making, as the customer becomes reassured of his investment and confident of the company’s ability to develop and deliver according to the specified date. In addition, clients can see unit on the ground before contracting, which is one of the competitive advantages that the compound enjoys as well as executing the project’s marketing plan.
Roots is an integrated urban development located on 87,000 sqm in a privileged and prime location in the heart of New Sohag city . The project comprises 33 residential buildings with a total of 496 units, including 12 villas with an average spaces of 500 sqm, penthouse units, duplexes, a family housing model, a commercial mall, and a social club, he noted.
The company’s CEO disclosed that the compound’s built-up area reaches only 50% of the total project size, and the rest is allocated for green spaces and services that provide customers with a different life model.
Moreover, Raaed Developments has contracted with the largest consulting office in Egypt and the Middle East, Sabbour Consulting, to develop architectural design for the project. Additionally, the company has contracted with Behairy Consultant Engineering to be the general consultant to supervise the constructions and structural design of the project, he added.
The current period in which the market is witnessing price changes requires companies to make a double effort for developing their projects to avoid a gap between selling price and construction cost, which exposes the company’s plans to high risks, he explained, highlighted the importance of having strong experience and financial solvency that enable companies to face challenges and get out of them successfully.
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