Misr Real Estate Assets Management signs a marketing contract with HSG launching "Osoul EL Haram" project
● "Osoul EL Haram" sales volume to reach EGP 300 million
● "HSGInvestment and Development" to exclusively market " Osoul EL Haram " project, and manage targeted first phase sales in 2020
● Misr RealEstate Assets Management project portfolio reaches 9666 real estate units in various governorates.
Cairo, Egypt - 29 January 2020:
Misr Real estate Assets Management, a company of the “Ministry of Public Business Sector”, signed today the exclusive marketing contract for Osoul EL Haram project with HSG Investment and Development, during a press conference today at the Semiramis Intercontinental Hotel in Cairo, thus launching Osoul EL Haram project and commencing its marketing and offering to the Egyptian real estate market.
The signing ceremony was attended by BasilAl-Hini, Chairman and CEO of Misr Insurance Holding Company, Eng. Abdel Nasser Taha, Chairman and CEO of Misr Real Estate Assets Management Company, Mohamed Al-Gazzar, CEO of HSG Investment and Development, and Walid Salah El-Din,General Manager of HSG Investment and Development, in addition to a group of officials and managers of the two companies.
"We are eager to be part of the distinguished Osoul EL Haram project, launched in cooperation between Misr Real Estate Assets Management Company andHSG Investment and Development to market the units of this project,” statedBasel El-Hini, Chairman and CEO of Misr Insurance Holding Company. "Misr Insurance Holding Group is delighted to support Misr Real Estate AssetsManagement Company, such a major entity within our group, that plays a huge role in expanding and developing our businesses, as it owns and manages the huge real estate portfolio of the group, leading us to achieve more growth and prosperity.”
Walid Salah, General Manager of HSGInvestment and Development Company, announced further details to the project’s design, adding that the Osoul EL Haramproject consists of 6 residential buildings, each consisting of 4 floors with a total building area of 11,608 m2. It includes 64 apartments ranging from 142 to 257 m2, in addition to the ground floor, which contains a mall and a first level allocated for the administrative units. The building stands on 50% of the construction area of2902 m2, with a garage servicing the entire project, designed with a capacity of 118 cars.
Eng. Abdel Nasser Taha stated that “Osoul EL Haram” complex is established on an area of 5804 m2, to include a variety of residential, commercial, and administrative units located in a prominent location in Haram, with a marvelous 40m view of Haram street.
With such a vital location in a touristic site, the project aims to stimulate the commercial movement locally and internationally by opening new markets exporting local products, in addition to contracting with the largest international brands. Osoul EL Haram project is a model for integrated housing projects and it will certainly contribute to supporting tourism in the region,” stated Taha “with an estimated sales volume of about EGP 300 million, the project is scheduled to be delivered in two phases, the first in June 2021 and the second in September 2021.”
Taha further elaborated that the success of the project does not entirely depend on its construction and designs only.Marketing for real estate projects plays an important role in promoting projects and selling residential and commercial real estate units, and accordingly it is considered the backbone of the work of any real estate company that seeks to sell its projects and guarantee The success of the project, and this is what we aim at with our contract from "HSG Investment and Development" as one of the strongest real estate marketing companies and to benefit from their experience and strategy in the Egyptian real estate market.
Mohamed El Gazzar, Managing Director of"HSG for Investment and Development", expressed the company’s eagerness to work on marketing and presenting Osoul EL Haram project as the first real estate project bearing the signature of Misr Real Estate Assets Management Company with the idea of the modern real estate developer.
El Gazzar shed light on how HSG’s 25 year experience in both real estate development and marketing fully-qualifies it to work on such vital project that contributes to the state’s plan to develop theHaram area as a residential and tourist destination; emphasizing that their expertise enabled them to professionally conduct the marketing and sales studies needed to present Osoul EL Haram project to the Egyptian real estate market through the various marketing channels, highlighting its vital location that links the project with a set of basic services surrounding it, including schools, commercial and service areas, and many hotels and tourist and historical places.
Misr Real Estate Asset Management company has an investment volume of more than EGP 1 billion, and a portfolio of numerous businesses varying between management, purchase, leasing, ownership, development and restoration. Moreover, the company is expanding their businesses by working on the Cairo Khedive Project in cooperation with a group of experts and leaders.
About Misr Real Estate Assets Company
Founded in 2007, is a Misr Real EstateAssets Company is a public company and part of Misr Insurance Group. Headquartered in Cairo, with nearly 900employees, it manages one of the largest real estate asset portfolios in Egypt.As an asset management company its activities focus on asset management through property management and real estate development. Internationally minded, Misrea strategic direction of invest, optimize and manage real estate is reflected in a portfolio of properties including land, buildings under construction, and properties that require renovation. The size of portfolio under Misr Real EstateAsset Management includes over 9600 properties, located over 6 governorates, offering the advantage of first-class assets and prime asset locations. For more information please visit http://www.misrrea.com/Index.html