Raaed Developments has announced the launch of its flagship project, ROOTS, in New Sohag, with a total investment of EGP 1.8bn.
Chairperson of Raaed Developments Mohamed Khalafallah stated that Upper Egypt region has a strong and real demand for all residential projects, but this demand is not met because market investments are concentrated in new cities surrounding Cairo. Accordingly, the company decided to introduce its project in New Sohag city to meet the demand for properties in the region.
Khalafallah said that the project is located on 87,000 sqm in a distinct and prime location in the heart of New Sohag.
He further explained that the compound includes 33 residential buildings with a total of 496 units, comprising 12 villas with an average space of 500 sqm, penthouse units, duplexes, a model for family housing, besides, a commercial mall, a social club, swimming pools, and sports fields. Additionally, the ROOTS project encompasses units with different spaces that meet the needs of all customers, with spaces ranging from 140 to 270 sqm.
The project’s built-up area doesn’t exceed 50% of the total project area and the rest is allocated for green spaces and services, he disclosed.
Khalafallah: “The market studies, that the company conducted, focused on meeting all needs of customers in the project they wish to live in, as customers in Upper Egypt prefer the family home model.”
He revealed that cooperation has been made with a number of partners in various disciplines to develop a modern and unconventional project. Sabbour Consulting office was contracted to design the project and supervise its construction, in addition to cooperation has been made with Behairy Consulting Engineering.
Raaed Developments specializes in developing integrated urban projects in several new cities, especially New Sohag city, and that the company is an extension of its activities in the Kingdom of Saudi Arabia, where it started its work 30 years ago in partnership with a Saudi side. Moreover, Raaed has succeeded in working efficiently in field of urban development in the KSA.