Emaar Misr breaks ground of Belle Vie in New Sheikh Zayed City with investments of EGP 38 bn
Michel Fadel performs in presence of politicians, media figures, and celebrities
Emaar Misr continues to write success stories in West Cairo, thanks Egypt’s economy that has become the highest growing among emerging countries: Alabbar
Cairo, Egypt March 26, 2021: Emaar Misr, the largest developer of the most prestigious residential communities in Egypt, celebrated laying the foundation stone and launching the first phase of the Belle Vie development in New Sheikh Zayed City, in the presence of Mr. Mohamed Ali Alabbar, founder of Emaar Properties. On an area of 500 feddans, Belle Vie is Emaar Misr’s second project in West Cairo after Cairo Gate project, which was launched in October 2020.
Emaar Misr has earmarked some EGP 38 bn for Belle Vie, which was carefully designed to ensure a a unique life experience that lives up to its French name Belle Vie or beautiful life. A 1400-meter-long green valley will cut across the project, which will be envelope a sandy beach lake surrounded by green areas. It will also feature a multi-activity social and sports club, an open area for services, along with shops and restaurants, and an educational institution.
At the beginning of the ceremony, which was hosted by the famous Lebanese composer and pianist Michel Fadel, in the presence of a group of politicians, media figures and celebrities, Mr. Mohamed Ali Alabbar, founder of Emaar Properties, said: “We are finally seeing a change of wind after a challenging year. But even through the toughest of times, Emaar Misr continued working on its projects looking to write more success stories in cooperation with all its partners. The project we are launching today is a new chapter in Emaar Misr story.”
He added: “Last year, I projected that recovery will take place by the middle of 2021 – something we are witnessing today. The Egyptian economy has proven its ability to deal with emergency crises, evident by the testimony of international institutions and experts. Egypt has achieved the highest growth among all emerging economies in 2020. This has prompted us in Emaar Misr to work and expand our projects in Egypt. The launch of the first phase of the Belle Vie project paves the way for a new full-service residential project in an important area in the Bew Sheikh Zayed City. At Emaar Misr, we pride ourselves of seeing the opportunities before others. We started our projects in Mivida and Marassi in untapped areas that have since become global tourism destinations. We see that in the Belle Vie location. We find the future to be West of Cairo, near the Sphinx Airport, the business area of the Smart Village and in proximity to the archaeological areas in the pyramids, and the Grand Egyptian Museum.”
Emaar Misr had announced that the design of the Belle Vie project would be distinguished by elegance, originality, and would trespass the boundaries of time, to unlock its value to grow as time passes. Belle Vie will also be a model for Emaar communities that include different spaces and models of villas, town villas, quad villas, and apartments. Emaar Misr was also keen on having distinctive educational services in the project through the presence of an educational institution.
During the last period, Emaar Misr has been growing its business in Egypt. The company has recently launched its latest projects, Cairo Gate, which is an integrated residential and commercial project located directly on the Cairo-Alexandria Desert Road in one of the most distinguished places in Sheikh Zayed City. The 133-feddan project is in the heart of Sheikh Zayed with estimated investments amounting to EGP 11.5 bn. And in January this year, Emaar Misr laid the foundation stone for its two new hotels, Address Beach Resort Marassi and Vida Marina Hotel in Marassi Sidi Abdel Rahman with investments reaching EGP 3.4 mn. Emaar had also opened the first branch of Address Marassi Golf Resort in Marassi with a total investment of EGP 950 mn.
To give back to the community, Emaar Misr had partnered with the Tahya Misr Fund to provide Covid-19 vaccine to the poor through a contribution of EGP 30 mn within President’s Abdel Fattah El-Sisi’s initiative ‘We Share for Humanity’ under the patronage of the Minister of Health Dr. Hala Zayed, and the Minister of Education Dr. Tarek Shawky. Emaar Misr also signed an annex to the Sidi Abdel Rahman village sustainable development cooperation protocol concluded in September 2020, aimed at raising the quality of life for the village residents at a financial cost of an additional EGP 60 mn, which brings the total cost of sustainable development projects in the village to EGP 110 mn provided by Emaar Misr.