Valore El-Thawra – The best commercial real estate

Valore El-Thawra is a project developed by El Riyad Castle company and Bunyan for real estate, As it’s one of the most important projects these companies started, the project is newly built in Sheraton, Cairo, Egypt.

Bunyan developments

Bunyan is an Egyptian developer of real estate working in the field of development for real estate in the past few years, it was led by DR Ahmed Abdulmajeed.

 

El-Riyad Castle

Riyadh Castle Real Estate Development Company launched its project “Valori Al-Thawra”, and it aims to expand strongly in the real estate sector during the coming period, in line with the vision of its founder, Dr Ahmed Abdel Majeed, a member of the House of Representatives. Tariq Eid, a member of the board of directors of the Riyadh Castle Group for Real Estate Development, said that the name of the project is valore, which means value, and it is the goal of the company, as it is trying to bring value to the place by launching Valore, which is located in the most important location in Heliopolis, and a very distinguished project was also presented. With an exceptional return.

He explained that the “Valore El-Thawra” project is a residential, hotel, administrative and commercial project next to Almaza City Center, and is located on an area of ​​28,800 square meters, and includes commercial, administrative and hotel residential units, in addition to commercial and recreational activities. Eid indicated that the proposed phase includes 421 units, including 90 shops, 146 administrative offices, and 185 hotel units, of various sizes, and they are offered to customers with distinct payment systems that suit the target customers.

 

He added that the company offers various payment systems that have been carefully studied to suit the needs of all targeted customers, as these systems include 0% down payment and the rest over 4 years without interest, 15% down payment and the rest over 5 years without interest, and 20% down payment and the rest over 6 years without interest. Interest, 30% down payment and the rest over 7 years without interest.

He explained that 30% of the project’s construction work was completed before it was offered to customers, which reflects the strength of financial solvency and reliance on self-financing to implement its project, in addition to enhancing customer confidence and purchasing units in a project that was implemented before it was marketed, pointing out that the project includes 622 A unit of various sizes consisting of 255 hotel units, 189 administrative offices, and 178 shops.

He pointed out that a contract was signed with the “Namaa BFM” company to manage the facilities, which will manage the project after its operation, and a contract was signed with the Concord International Hotels Group to provide hotel services and management for residential activities, in addition to renting hotel units to customers, and the company also continues to contract with Other entities within the project to be delivered to customers in the best way.

A member of the Board of Directors of the Riyadh Castle Real Estate Development Group confirmed that these contracts increase the investment value of the project, meet the needs of the target customers, and take into account market competition standards to provide the best in everything within the project, referring to contracting with distinguished and powerful entities in all details of the project in order to ensure its implementation. In line with the company’s previous business and reputation in the real estate market.

As for Ahmed Abdel-Meguid, Undersecretary of the Housing Committee in the House of Representatives, he said that the current stage is very important for the private sector to enhance its role and efforts in activating the real estate export file, and attracting more foreign investors, coinciding with Parliament’s efforts to pass several legislations to support developers.

This comes at a time when the real estate sector is facing several challenges resulting from the high costs of construction and building materials, which led to remarkable increases in selling prices, prompting developers to demand that the government approve several facilitations, whether in methods of paying instalments or extending the period of project implementation.

Regarding the real estate export file, Abdul Majeed saw that this dream cannot be implemented with a single effort. It is achieved even in the presence of a division and a room for real estate development companies in the Federation of Industries.

And he continued: In recent years, the value of real estate experts has reached about 300 billion dollars, of which Egypt’s share was only 500 million dollars, although Dubai acquires 18 billion of them, unlike Turkey, which also exceeded 30 billion, and they are all numbers that prompt us to question the available difference that must be worked on. He has to reduce these differences and control a market share suitable for Egypt’s capabilities.

He stressed that the House of Representatives, in turn, is discussing the Developers Union Law, which constitutes an accurate definition of developers that includes ensuring their seriousness, their ability to continuity, and their commitment to customers, and that the government also now possesses a distinctive real estate product at an acceptable and attractive price abroad, all of which are successes that must be built upon and continued to achieve the dream.

He called on everyone to look realistically at Egypt’s share in real estate exports, which amounts to $500 million, as it came as a result of purchases from Egyptians abroad or those who have relations with citizens at home, which means that it is not through strong promotional campaigns, which, if implemented, could reach billions of real estate sales.

And he considered that the recent period witnessed remarkable interest from the government in supporting developers and real estate export, which appeared during the economic conference in the presence of Prime Minister Mustafa Madbouly, who recommended preparing a working paper to take advantage of the presence of representatives of senior developers and the House of Representatives Committee during the conference.

The representative of the Housing Committee in the House of Representatives stated that the recommendations for amending the work of the real estate registry to ensure the possibility of facilitating the registration of units in closed residential projects may represent an important solution to the crisis of not registering the property and its negative impact on the process of attracting foreign investors to buy the local property, with suggestions to give the buyer a paper or document stating that he owns the property. Even in the development stage of the rest of the compound or the building, which means that the state enters as a guarantor in the sale process.

He stressed that the private sector has a major role in revitalizing the real estate export file by studying development developments in the global market and what investors are looking for while exploiting the construction boom on the part of the state in the file of roads and bridges and providing a remarkable diversity in units between the residential, hotel, commercial and administrative, all of which are factors to attract overseas investors.

And he mentioned that the Housing Committee in the House of Representatives will also focus during the coming period on approving the articles of the establishment of the Union of Occupants of Residential Projects, in addition to the Unified Building Law, as they are among the main complements to revitalizing the real estate export file.

He believed that the occupants’ union is one of the most important mechanisms for regulating the contractual relationship after the sale, and it is more than important to ensure the operation and maintenance of integrated residential projects at the highest level.

Abdel-Meguid advised real estate development company officials to take advantage of the media momentum for Egypt after the climate conference in Sharm El-Sheikh, by intensifying promotional campaigns to sell Egyptian real estate abroad, in addition to studying the future of real estate development in light of compliance with standards of sustainability, environmental preservation and green economy.

Providing various payment systems to suit the needs of target customers

“Namaa” handles the management.. and “Concorde” seizes the provision of hospitality services