CAIRO: Porto Marina welcomed the summer season with the launch of nine residential towers and the introduction of their latest North Coast development, Porto Golf.
Amer Group, the developers of both projects, boasts that the nine towers were built in just one year, starting last summer.
The apartments are ready for sale, and they are putting the final touches on the entrances, said Mohamed Ramadan, sales executive.
The red and yellow striped towers spread along the marina have their own spas as well as private indoor and outdoor swimming pools.
The exclusive facilities come with a hefty price tag: The apartments range from 80 square meters to 650 square meters in size and cost $2,000 per meter. However, this did not hinder sales, says Ramadan, and over 30 percent of the units have already been purchased.
“Amer Group is famous for their exclusive projects, and Porto Marina is not for everyone, it’s for the elite, said Mamdouh Mortagy, a businessman that just signed a contract for one of the apartments.
Porto Marina Resort is the first development project with an international yacht marina on the North Coast, overlooking the Mediterranean Sea. The marina is operated under the supervision of British Camper & Nicholsons Marina Ltd.
The notion of exclusivity was apparent when the hotel was inaugurated in 2005: Suites at the 650-room hotel cost anywhere between LE 4,000-7,500 per night. A standard double room goes for LE 1,200-2,000 per night
Porto Marina’s clientele is the main target of the restaurants and retail shops, bank booths and car displays spread out along the strip. They have to be innovative and dynamic in order to attract the port s daily visitors.
Mansour Amer – founder of Amer Group – further capitalized on the “elite’s loyalty to spending summers in Marina by establishing Porto Golf, or Marina Gate 7. The resort is located just five kilometers away from Porto Marina, and features a 12-hole golf course, indoor and outdoor swimming pools, lakes and apartments. Construction is currently underway and apartments should be ready in June 2009.
“This project will not have villas, only apartments that are either 80 square meters – costing from LE 270,000 to LE 305,000 depending on the view – or 120 square meters with a 50 square meter garden, costing LE 605,000, said Wael Samir, a sales representative showcasing the new golf resort.
Many of those who attended Samir’s presentation were unimpressed by the fact that Porto Golf is on the opposite side of the road, not overlooking the sea. However, sales representatives argue that the artificial lakes will be sufficient, and buses will be available to shuttle residents to Sidi Abdel-Rahman’s beaches.
“Why would I pay such a huge amount of money and not have a beach? said Mohamed Balbaa, an IBM employee.
Still, sales representatives were not fazed by these comments. As one of the attendees said, a countless number of people would be interested in purchasing property in Porto Golf just to be members of the Marina community.