United for Real Estate Development announced its contract with Concord Hospitality to provide hotel services for hotel within G-BAY project in Ain Sokhna, as well as the possibility of providing hospitality management for all residential units within the project.
Eng. Mohamed Hafez Al Zaabalawi, Chairman of United for Real Estate Development, and Simon Penhaligon, Resident Director of Concord Hospitality, signed the contract in the presence of officials of both companies.
Chairman of United for Real Estate Development Eng. Mohamed Hafez Al-Zaabalawi said that the company is developing the G-BAY project in Ain Sokhna with the highest quality standards, which guarantees cooperation with successful entities in all details of the project.
Al-Zaabalawi added that the cooperation with Concord comes to add more excellence for the project to meet requirements of local and foreign customers.
He pointed out that the project includes serviced apartments, which are gaining the attention of local customer to invest in, as well as foreign customer who wants to use branded residences to spend vacation in. Moreover, serviced apartments are a major commodity that suits the foreign customer who wants to invest outside his country, making it the most popular product in property export.
He stated,” The G-BAY El-Sokhna resort includes many unconventional ideas that make it a distinctive sign in Ain Sokhna city and ensure a high occupancy rate in the hotel in the project throughout the year, as well as a distinctive residence experience for owners of residential units in the project. Ain Sokhna has become a city suitable for permanent residency, not just seasonal.”
The company’s chairman disclosed that the G-BAY project spans over 27 acres, overlooking the sea directly, and the project is being developed with self-financing, and will be completed within 3 years.
He further explained that the resort also includes units with various spaces ranging from 75 to 120 sqm, with a total of 900 residential units and serviced apartments, noted that the company has begun the project constructions in October 2022.
Managing Director of the United for Real Estate Development Ahmed Mounir stated that the contract with Concord achieves added value for the project, and contributes to providing a distinguished service for the hotel part of the project. Furthermore, will lead to a higher occupancy rate in the hotel, and enhance investment value of the project, which raises investment return of the units.
Mounir added that the G-BAY project enjoys a 240-meter seafront, and includes chalets with various sizes starting with one and two rooms, and all units of the resort overlook the sea, with elevators in all project buildings.
He elaborated that the ground floor units attached with a garden and a private beach on lagoon, as well as it includes a 15,000-sqm landscape and water bodies covers an area of 15,000 sqm, a mosque for men and a prayer room for women, a gym, a spa, restaurants, cafes, playgrounds, and a social club.
He said that about 25% of the project has been sold out since its launch in early 2022, and the company is marketing the project according to a gradual sales plan, revealed the second phase of the project will be offered in the second quarter of 2023.
The company’s managing director pointed out that the G-BAY project comprises a lagoon along the project, four swimming pools, an artificial lake, two cafes, and a beach club, and it is planned to operate during the next summer, and 10 cabins overlooking the sea will be operated during the next summer. The project will include a commercial mall that will serve the project residents and customers from outside the project.
The hotel includes 280 rooms, with areas starting from 75 sqm, and Concord will manage the hotel for the project. The company also provides an additional service that allows furnishing the housing units for their owners with hotel furnishings, and Concord manages them to achieve an investment return for owners of those units.
For his part, Simon Penhaligon, Resident Director of Concord Hospitality stated that contracting with the United for Real Estate Development with its project adds to the list of distinguished projects managed by Concord, as the project is characterized by many non-traditional elements that enhance the company's presence in the Ain Sokhna city.
Concord Hospitality carefully chooses projects that it puts its trademark on, so that it fits with the rest of projects managed by Concord, and achieves a unique and unconventional hotel experience for the company's target customers, he disclosed, concluded that the project will provide various services to residents.