by makan 
Al Ahly Sabbour announces one of their ambitious project worth LE 135 Billion
With a combined investment of EGP 135 billion, Al Ahly Sabbour has announced the opening of the “Summer” project in Ras Al Hekma and “At-East” in Mostakbal City.
Al Ahly Sabbour Developments increased the amount of land it owned by 1,045 feddan in the first quarter of 2024, representing a 36% increase in its land portfolio. The company’s pioneering role as the leading real estate developer in the area is further reinforced by the inclusion of 181 feddan in the first phase of Mostakbal City. To strengthen the company’s position in this desirable area and complete its North Coast developments, 864 feddan have also been acquired at Ras Al Hekma on the North Coast. These new projects are scheduled to launch in 2024, marking a year of firsts for Al Ahly Sabbour.
The company’s managing director and chair, Ahmed Sabbour, has unveiled two significant projects for 2024. These actions highlight the company’s dedication to growing its land holdings and highlight the real estate industry’s tenacity and critical role in promoting sustainable development and economic progress in Egypt. While Mostakbal City is expected to revolutionize East Cairo’s residential real estate, Ras Al Hekma is expected to develop into a center for tourism investment.
Following a thorough analysis of the market, it was decided to launch two unique initiatives in 2024. We are confident in Ras Al Hekma’s potential for tourism development, as seen by the summer season, which spans about 864 acres and is expected to become a popular destination. Adding to our stellar reputation in this dynamic community, At-East in Mostakbal City covers 181 feddan and is the last parcel in Phase I of the city.
According to Sabbour, the “Summer” project, which is located along the Alexandria-Matrouh Road, will shortly begin its first phase. The project will require an EGP 100 billion investment and a 2024 sales target of EGP 15 billion.
Summer is intended to be a full-service residential project, including a variety of recreational opportunities and community services to give inhabitants an unmatched quality of life. The project’s natural elevation, which guarantees all units have expansive views of the water, is one of its main features. WATG, an internationally recognized company with a track record of creating world-class luxury resort designs, is creating the master plan for Summer.
Al Ahly Sabbour’s seventh project in Mostakbal City, the At-East project, is expected to attract an investment of EGP 35 billion. A wide range of single-family villas, townhouses, and twin homes will be available in the first phase. These properties are expected to have a big influence on the Egyptian real estate market, especially after our thorough market analysis of the region.
Ahmed Sabbour emphasized that “At-East” is expected to generate EGP 8 billion in sales by 2024. The project’s architectural philosophy places a strong emphasis on cohesiveness and connectedness, and every apartment has a large view of verdant surroundings and water features.
In response to the tremendous demand for Al Ahly Sabbour’s Mostakbal City developments, “At-East” has been launched. This project builds on the success of L’Avenir, Green Square, Alaire, Wood Walk, The Ridge, and Rare. With its recent land acquisition, Al Ahly Sabbour, the first developer to finish projects in the city, strengthens its position in Mostakbal City, where it currently holds almost 1,000 feddan. Al Ahly Sabbour is still Mostakbal City’s biggest and most prominent real estate developer, having completed seven developments.
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