In this exclusive interview, we sit down with Hossam Abdel Ghani, General Manager of Al Riyadh Misr, to discuss their latest development, Reel Serviced Apartments.
With a focus on luxury and meeting the needs of both local and international clients, Abdel Ghani shares insights into these groundbreaking projects, the gaps they aim to fill in the Egyptian real estate market, and what the future holds for Al Riyadh Misr’s upcoming ventures.
Can you tell us a bit about your most recent project, Reel Serviced Apartments?
Our most recent development, Reel Serviced Apartments, is located in New Cairo, on the Suez Road, North 90th Street. It consists of 80 units, offering a mix of studio, one-bedroom, and two-bedroom apartments, with sizes ranging from 60 m² to 120 m². The payment plan is highly competitive, starting with just a 5% down payment, with installments available for up to 10 years.
What gaps or unmet needs in the local market does Reel Serviced Apartments aim to address?
In many areas of Egypt, especially in high-demand cities, there’s a noticeable shortage of premium, well-maintained residential properties that cater to both individuals and families.
Reel Serviced Apartments addresses this gap by providing luxurious residences with modern amenities and professional services. With a range of unit types, from studios to two-bedroom apartments, we aim to meet the growing demand for high-end living spaces, attracting both local and international clients looking for an elevated standard of living.
What makes this project stand out from others in the same area or category? Are there any unique architectural elements or features that you’re particularly proud of?
What makes Reel Serviced Apartments truly unique in the Egyptian market is our ability to blend luxury with practical design, catering to the needs of today’s residents and visitors.
Whether they are looking for long-term living or temporary accommodations, our emphasis on service excellence, cutting-edge design, and flexible living options makes this project stand out.
Additionally, our prime locations in New Cairo further elevate their appeal.
Who is the target market for these developments, and how did you determine their needs and preferences during the planning phase?
Our target market is primarily real estate investors. We’ve identified a growing demand for serviced apartments, and through our research, we have designed properties that provide high-quality living spaces that attract both short-term and long-term tenants. This creates a profitable opportunity for investors while meeting the needs of the modern real estate market.
How does the Reel project align with the current trends in the real estate market, and do you foresee it being a trendsetter for future developments?
The Egyptian real estate market is seeing a significant demand for serviced apartments, and with Reel, we aim to meet this growing need. We believe this trend will continue to gain momentum, and our projects are positioned to set a benchmark for future developments in the market.
How do you think the developments will affect local property values, and what impact do you anticipate it having on the surrounding neighborhood?
The development of serviced apartments like Reel is expected to positively impact local property values, especially as demand for high-quality rental options increases in urban centers like New Cairo.
This will not only enhance the local real estate market but also improve the overall neighborhood’s appeal.
How do you plan to ensure that they stand the test of time and remain relevant for future generations?
We are committed to using high-quality materials and incorporating sustainable construction practices to ensure the durability of our developments.
With a focus on modern design and long-term sustainability, we aim to create properties that stand the test of time and remain valuable for future generations.
Are there any future phases or additional projects planned that will complement Peerage Residence and Reel Serviced Apartments?
Yes, we’re excited to announce that we will soon launch a mega project in New Cairo, which will complement both Peerage Residence and Reel Serviced Apartments.
This upcoming project will further strengthen our presence in the region and provide even more opportunities for investors and residents alike.