Egypt’s Tatweer Misr invests $237mln in smart solutions within its projects


Egypt – President and CEO of Tatweer Misr Ahmed Shalaby stated that the company invested EGP 4.5bn in smart solutions within its projects, including remote sense lighting poles, water and irrigation networks that operate at specific times, and triple play services. Besides, the company offers smart meters to help customers monitor water and electricity consumption in their units.

Shalaby added: “The Company applies the concept of happy communities in all its projects. This concept addresses the five senses of human beings, and we add to it a sixth sense, which is technology, which enables residents to feel well-being, comfort and safety, and this environment stimulates a general feeling of happiness. Accordingly, happy cities are also a center for creativity, innovation and social entrepreneurship.”

He explained that the most prominent contracts in technological solutions were made with Huawei Technologies Egypt, which will provide sustainable and smart city solutions so that the benefit of Huawei networks that rely on the Internet of Things (IoT) is achieved in all of the company’s projects, starting with sensor applications, Data analysis software, artificial intelligence, and renewable energy to infrastructure.

Moreover, a single data center will also be established for all Tatweer Misr projects, which will allow the company to access accurate database analytics to help assess customer behaviors, and accordingly make smarter and sustainable decisions, such as controlling street lighting, water and electricity networks, security systems and surveillance cameras, reducing pollution, and providing smart irrigation systems.

The company’s CEO elaborated that the company has completed the delivery of 850 units in Fouka Bay project in North Coast, and 400 units are currently being constructed, which will be included in the company’s delivery plan soon.

Shalaby further pointed out that most of earthworks and excavation of roads, facilities and lakes have been completed with a total of 4 million cubic metres, excavation and backfill works worth EGP 300m, and 850 units have been delivered in the project since its inception until now. The company plans to deliver the second and third phases during the summer of 2023, and the fourth phase in 2024.

Work related to the beach of the first phase has been completed, and the project features a beachfront with a length of 800 meters, in addition to a 100,000-metre area designated for the lagoon in the project, whose quality and water quality are reviewed through international operator Crystal Lagoons. The first phase of the lagoon has been completed and the initial tests for that phase are being run in parallel with the development of the second phase of the project, with a total value of EGP 250m, according to Shalaby.

Fouka Bay is a residential, touristic, integrated service project. It is considered the icon of Tatweer Misr in the North Coast because it was designed in a distinctive way. Moreover, the masterplan of the project ensures that all of its units overlook a waterfront. The Fouka Bay project is located on an area of ​​220 feddan in Ras El Hekma area on the North Coast, and comprises 2,500 units ranging from residential units, apartments and serviced-apartments.

With regard to the company’s achievements, Tatweer Misr has succeeded since its inception in the real estate market, in achieving sales worth EGP 30bn, in four major projects in various regions and more diversified properties, which reflects a clear and flexible strategy that can be implemented regardless of the size of market challenges.

The total size of the company’s land bank currently has reached 5.8 million sqm, and the company’s total units in its projects are more than 25,000 units with various types. Furthermore, the company plans to deliver 1,500 units in its projects in the current year, and aspires to increase delivery rates for 2,000 units per year, Shalaby noted.

“The delivery plan is divided between IL Monte Galala projects in Ain Sokhna and Fouka Bay in the North Coast, and the company succeeded in delivering 450 units during the first half of this year and continues to deliver the rest of the units until the end of December 2022. Additionally, the sales plan of the company does not focus on the speed of sale, especially during the current period, which is witnessing a constant increase in construction cost, but sale is done to the extent that it guarantees the continuation of cash flows used in constructions,” Shalaby explained.

He highlighted that sustainable cities are no longer a luxury at the present time, but have become a necessity to keep pace with global climate changes, as investment in sustainable projects needs sound foundations starting from planning, design and infrastructure to ensure the application of the highest standards of sustainability in various projects and to provide a quality of life for customers.

The establishment of sustainable, smart and happy projects is one of the most important elements on which Tatweer Misr’s strategy is based, which makes it focus on applying the highest standards of sustainability related to reducing water and electricity consumption in all its projects. In addition, the company uses environmentally friendly materials, and recycles construction materials, like rocks.

© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).

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Publish date : 2022-09-23 06:52:10

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