DM Developments reveals EGP 1bn in sales during Q3 of 2020

Daily News Egypt
2 Min Read

DM Developments has revealed that it has earned EGP 1bn during the third quarter (Q3) of 2020, from unit sales at its Brellia Village and Sereia projects, both of which are part of the The Groove Sokhna Resort.

The company achieved EGP 700m from sales of 400 units at Brellia Village, thereby achieving a complete sell out of all units in the development. It also achieved EGP 300m through the sale of all 102 units in the Sereia project’s first phase.

Ahmed Abd El-Hamid, the company’s Managing Director, said, “DM Developments is looking to leverage the current prosperity of sales volume during Q4 of 2020, and we are eyeing EGP 400m from Sereia’s 2nd phase and Capella’s units.”

He added, “Moreover, the company is targeting a reinforcement of its sales in 2021 to achieve EGP 1bn. Our plan is finishing sales of Sereia’s chalets, in addition to selling villas in the exceptional Gala and Capella.”

DM Developments has collaborated with Global Waste Water Solution (GWWS) to carry out the development of the network, utilities, and integrated infrastructure at The Groove Sohkna in 2020.

The work is ensuring that optimum standards are kept, with pool construction completed on the first terrace, while pool construction on the second terrace is under progress, along with road paving and tree planting.

The Groove Sokhna Resort is located on the Zaafarana road, 35 minutes from the New Administrative Capital (NAC) and 45 minutes from the Cairo toll gates. The resort houses 1,700 residential, administrative and retail units.

The project’s built-up area is only 15%, of which the beach area represents 13% of the resort spanning over 11 feddans, while the lakes and pools area is 16% covering 13 feddans. Green and service areas take up a combined 56% of the resort’s area. 

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