El Batal Developments announces EGP 6bn Rock White project in New Heliopolis – Dailynewsegypt
El Batal Developments has unveiled its 2024 expansion plans with the launch of the Rock White compound in New Heliopolis City, representing an investment of EGP 6bn.
Emad Doss, CEO and Managing Director of El Batal Developments, explained that the Rock White project is part of the company’s previously announced expansion strategy. It is one of five major projects in East Cairo slated for launch in 2024, with total investments exceeding EGP 10 billion.
El Batal Developments will oversee all development, construction, and marketing activities for the Rock White project, which is being developed in collaboration with the National Asset Management and Investment Company.
The Rock White compound spans 25.52 feddans in the heart of New Heliopolis City, conveniently located just one minute from the Suez Road and directly on the Baron Axis. The project enjoys proximity to Cairo International Airport and various strategic health, educational, and sports services.
Doss emphasised that El Batal Developments ensured the built-up area would not exceed 10% of the total land area for the project. The total built-up area covers 116,000 sqm, while the remaining spaces are allocated for commercial services, green areas, gardens, and landscaping, spanning over 30,000 sqm.
The Rock White compound features a residential section comprising 30 buildings with a total of 770 fully finished units, ranging in size from 117 to 236 sqm. This diverse range of sizes aims to cater to various customer preferences and needs.
El Batal Developments aims to commence unit deliveries in the Rock White compound by December 2028, launching the project in four sales phases.
Sharif Samy, Chairperson of the National Asset Management and Investment Company, highlighted that El Batal Developments, a major player in the real estate sector, is committed to delivering a value-added project. The Rock White project occupies a prime location in the ninth district of New Heliopolis City, situated on land owned by the National Asset Management and Investment Company.
Samy explained that the National Asset Management and Investment Company is an Egyptian joint-stock company affiliated with the Ministry of Public Business Sector. Established in 2008, it has expanded its services in asset management, real estate investment, evaluation, and marketing.
Doss also mentioned that El Batal Real Estate Development Company targets sales of approximately EGP 4bn for its 2024 projects, building upon the EGP 3bn in total sales achieved in 2023.