Seldar Misr, the real estate and hospitality investment firm and holding company of ALJAZI Egypt, launched the JW Marriott Residences New Cairo, Al Jazi Gardens, and the second phase of its Al Jazi Egypt project.
Located in New Cairo with an investment value of EGP7bn, the Al Jazi Egypt project is spread over 266,500 sqm and is comprised of four projects in total. These cover: the construction of Al Jazi First Mall; the construction of the Al Jazi Chess Field commercial area; alongside two residential developments that carry the Marriott International’s brand, namely JW Marriott Residences New Cairo, Al Jazi Gardens and Marriott Residences New Cairo, Al Jazi First. The latter residential project was launched earlier this month, and has already completely sold out.
All ALJAZI Egypt projects are fully built with residential units available at JW Marriott Residences New Cairo, Al Jazi Gardens open for in-person viewing by interested buyers.
The development has many unique attributes, including LEED certification for the quality of its building design and energy resources. Residents can benefit from the development’s impeccable attention to interior design detail, as well as a range of unit sizes and luxurious finishing.
The development also has world class fire and safety systems, and a high quality external environment. For the first time in Egypt, this means traffic-free pedestrian movement around the project with vehicles directed through a system of underpasses.
Tarek El Sayed, Chairperson of Seldar Misr, said, “Following the project’s first phase, Marriott Residences New Cairo, Al Jazi First, the success of which reflects the strength of the Egyptian economy and consumer appreciation for quality, it is with great pleasure that we launch this second phase, ‘JW Marriott Residences New Cairo, Al Jazi Gardens’, in collaboration with the world-leading hospitality company, Marriott International.”
He added, “As we introduce the concept of branded residences to Egypt, JW Marriott Residences New Cairo, Al Jazi Gardens sets the standard in the trend towards high-end and hassle-free living. It is with pride that we can say that this project has been fully constructed through in-house financing and before any residences went on sale, reflecting the trust and confidence in our offering.”
Jerome Briet, Chief Development Officer for the Middle East and Africa at Marriott International, added, “We are delighted to work with Seldar Misr to deliver a new era of luxury living with JW Marriott Residences New Cairo, AL JAZI Gardens.”
“Marriott International has more than five decades of presence in Egypt and as one of the most awe-inspiring and sought-after destinations in the world, we are committed to enhancing our portfolio and working with our partners to continuously bring new concepts to life for residents and consumers in the region,” he said, adding, “This incredible project marks Marriott International’s first branded residences in the country, and we are excited for future residents to experience the luxury services and amenities of the JW Marriott brand in their own homes.”
A licence and management agreement with Marriott International was signed by Seldar’s Misr subsidiary, Gulf Building and Construction, to bring the first branded residences to Egypt.