Building on its continuous steady strides toward achieving sustainable, smart and happy communities Tatweer Misr, one of Egypt’s leading Real Estate developers, recently announced their upcoming plans for 2022 where they aim to deliver 2,000 units in IL Monte Galala, Fouka Bay and Bloomfields projects by the end of the year with total investments worth EGP 3 bn divided among these projects. In addition to a recap of the company’s most notable achievements in 2021 from new product offerings, strategic partnerships and sales growth.
In response to the evolving competitive landscape, the company strives to accelerate the pace of construction work within its projects in order to face the global inflation wave and the upsurge in the prices of raw materials. The company also aspires to achieve contractual sales of EGP 8 bn by the end of 2022, divided among the four projects.
Amongst its goals, the company has a solid plan in terms of delivery and the operations of its various residential and non-residential phases of the projects. This includes, the full operation of the first phase of IL Monte Galala, including the world’s first on-mountain Crystal Lagoon in addition to operating the first phase of the beach during the second half of 2022. Additionally, Tatweer Misr will be starting the delivery of the first phase of the residential component of Bloomfields by the end of the year and aims to launch several new phases in their projects.
In addition, the company is eager to continue establishing more strategic partnerships with top-notch companies and service providers, both globally and locally, to emphasize on Tatweer Misr’s vision of building sustainable, smart and happy communities.
The company also announced its most prominent successes during the past year. This includes the launch of the company’s latest project “D- Bay" in Dabaa area in the North Coast during the first quarter of 2021; which spans over an area of 200 acres with around 1,800 units and with total investments of nearly EGP 7bn.
Moreover, one of the company’s greatest successes was the inauguration of the first phase of Bloomfields’ educational zone that spans over an area of 90 acres. The company announced the signing of three contracts worth EGP 3.2 bn with three educational entities. The new contractual agreements included an international branch campus of New Jersey Institute of technology (NJIT)- which is Egypt’s first branch of an American university, 2 schools for King’s College, and a school for Narmer American College.
Additionally, a strategic partnership has been announced with CIB Egypt and Colliers International to attract more educational entities and investment funds with interest in education and entrepreneurship to launch at the educational zone in order to reach the targeted investments of EGP 10bn.
In order to expand its expertise and marking another step in furthering its ambition to build a fully connected intelligent world, Tatweer Misr signed a cooperation agreement with "Huawei Technologies" to deliver sustainable and smart technological software solutions throughout Tatweer Misr’s projects.
With relentless focus of Tatweer Misr on achieving their sales target, the company was able to reap contractual sales surpassing EGP 3.7bn in the first half of 2021, which is considered the highest sales Tatweer Misr has achieved in a 6 months’ time period since its establishment. By the end of 2021, the company was able to achieve 100% of its target, which was EGP 8bn contractual sales.
Furthermore, one of the Company’s major achievement this year was the successful operation of the first phase of IL Monte Galala project during the second half of 2021 and the summer operation of Fouka Bay project for the third year in a row featuring the opening of Stanley Restaurant.
In terms of delivery achievements, 1,200 units have been delivered in IL Monte Galala and Fouka Bay projects. Also, EGP 3bn investments were pumped to cover several projects and divided as follows; EGP 2bn to IL Monte Galala, EGP 500m to Fouka Bay and EGP 500m to Bloomfields.
It is noteworthy to mention that Tatweer Misr owns 5.8 million square meters of land bank in its projects, with total investments amounting to EGP 57 bn and it is looking forward to upsurge its land bank by launching more projects in significant and strategic locations.
