By Eman Hamed
Palm Hills Developments, Egypt’s pioneering real estate developer, announced the implementation of 2759 new units in Badya – the first sustainable city in Egypt, to capitalize on the company’s success in developing grand projects according to the highest quality standards. The project consists of 148 buildings, 1959 housing units and 800 villas. The implementation rates are aligned with the plans set to develop the first phase of Badya, which should be completed in 2023.
Palm Hills Developments pledged to spend more than one billion Egyptian pounds on construction and buildings in Badya, the largest real estate project in West Cairo. Despite the challenges that face the global economy and the repercussions of the coronavirus, the company is set to start working on the second phase next year while completing the first phase in order to deliver the units to the clients according to the delivery dates and meet the huge demand for the project.
As a result of the efforts from Palm Hills management in this project to speed up the expansion of Badya projects, the company has started to deliver the first phase villas before the expected delivery dates. This is an attempt to accelerate the pace of construction of the project and it also reflects the company’s dedication to delivering the units to the clients before the agreed dates as the demand for the project increases.
Badya has garnered huge sales ever since it launched, approaching almost 13 billion Egyptian pounds; 1.9 billion during the first quarter in 2022 with a 308% annual growth rate, selling 428 units. The project has received great praise from the Egyptian real estate market given its strategic location, overlooking the middle ring road and the oasis road, leading to the New Administrative Capital, all with the assistance of major international companies in construction and design abiding by the latest technology standards.
Palm Hills also succeeded in achieving the highest sales in Egypt during the first quarter in 2022 at a value of 5.5 billion Egyptian pounds, compared to 3.4 billion Egyptian pounds, an increase of 62% on an annual basis. This increase in sales goes back to the increase in selling prices coinciding with the growth in the number of units sold during this period and an increase of 96% on an annual basis reaching 959 units during the first quarter of 2022 compared to 488 units sold during the same time last year.
Hazem Badran, Co-CEO & Managing Director of Palm Hills Development, said that the great demand for Badya’s units and the accelerated growth rates in sales pushed Palm Hills to speed up the pace of construction in the city. Thus, completing the largest number of units in order to deliver the units ahead of schedule. Badran aims to maintain this rate until all phases are complete.
According to Badran, the huge demand for Badya attributes the significant demand for Badya are the progressive completion rate significantly affected the customers’ purchasing decisions, as well as the location of the project that links between east and west Cairo. In addition, the advantages and services that the city provides. From fourth-generation services that rely on the latest technology in maintenance to commercial, business, sports, and educational facilities that cater to the needs of the upcoming generation.
Badya is considered one of the largest projects for Palm Hills Development and the first integrated smart residential city in West Cairo with an investment value of 100 billion pounds in collaboration with the Urban Communities Authority. With a total area of 3000 acres that equate to 12.6 million square meters and 50,000 housing units, varying between apartments, penthouses, townhouses, and standalone villas divided into 6 residential phases, and each phase is considered a separate community with its own services and facilities.
The project also contains commercial units representing 12% of Badya’s land including different educational, sports, and entertainment facilities, perhaps the most prominent one is Badya International University associated with is one of the biggest universities in Europe. In addition to 6 local and international schools equipped at the highest level. It also includes a sports club on an area of 80 acres making it one of the biggest clubs in west Cairo. In addition to, shopping malls, administrative offices, a clubhouse, cinemas, spas, and international hotels.
It is worth mentioning that Badya is located in the middle of the ring road around Greater Cairo and the regional ring road. It is also located on Al-Wahat (Oasis) road and 45 minutes away from the New Administrative Capital. Badya also oversees many of the new main axes, which means that the project is connected to all kinds of services all over Greater Cairo.