New Generation Development launched on Sunday its latest project L’HIVER on 75 feddans of the beach area of New Alamein.
In a press conference, Chairperson of New Generation Development Assem Fadel said that New Alamein is characterised by its unique planning and model infrastructure in addition to accelerated development to raise occupancy rates in the city.
Fadel added that L’HIVER is an integrated urban project and is located on the beach of New Alamein to sell the concept of having a permanent residence in the new city rather than only visiting it in the summer — a key goal of the state.
He noted that the company targets recording EGP 4bn in sales, pointing out that the company is collaborating with international partners to develop the project. The project will also include the first sports club in the Middle East under the umbrella of Roland-Garros — a French tennis academy.
The project’s built-up area will be about 16.5% of its total size, with the rest being green spaces and lakes. It will also include a commercial area, which is the only one overlooking the international coastal road, in addition to a hotel and three marinas for yachts.
Fadel explained that the company has contracted with KAD to design the project, adding that the project is managed under the supervision of French company FONCIER.
“The company’s second project will be launched soon; a project that integrates our previous business and meets the needs of our customers,” Fadel announced.
Ehab Labib — General Manager of New Generation Development — stated that the project will be developed with self-financing tools according to a specific construction plan that will begin before the end of this year. Accordingly, the project will be delivered by the end of 2025.
He also revealed that the targeted sales for the first offering of the project amount to about EGP 1.5bn.
Moreover, it is expected that the project will be sold out within a period ranging from six to eight months.
He added that the company also has an upcoming project in the New Administrative Capital (NAC) named Botanica.
CCO of New Generation Development Ahmed Sameh explained that L’HIVER will includes various units of chalets, villas, townhouses, and twin houses with different areas starting from 42 sqm up to 220 sqm.