Maxim Investment Group has announced the launch of its Bo Sands Sidi Abdel Rahman project located in the heart of the North Coast.
The new project covers 300 acres of land, which represents 17% of the land for the larger project Bo Sidi Abdel Rahman project, with total investments estimated at EGP 6.5bn ($732 million) in, according to the press statement.
Maxim said Bo Sidi Abdel Rahman is the biggest project ever planned for the North Coast, covering a total 1,800 acres of land at an investment cost of EGP14bn. The project will roll out in two phases: Bo Islands and Bo Sands.
The Bo Sands compound offers a full range of facilities and services, comprised of a commercial district with international brands, 4 and 5 star hotels, a club house, sports facilities, and a fun park.
The statement noted that the Bo Sands apartments are customized to fit the needs of small families, with each apartment ranging from between 80 and 200 sqm.
All apartments will overlook artificial lakes and swimmable lagoons, which accounts for approximately 80% of the project’s total area.
Chairperson of Maxim Investment Group, Mohamed Karrar, said the overwhelming demand for the Bo Sidi Abdel Rahman project pushed the group to launch a new compound to meet the diverse needs for homes.
Karrar added that total investments for the Bo Sands part of the project amount to EGP6.5bn, the first phase of which will be delivered by 2019. The whole project is expected to be completed by 2022.
Karrar noted that Maxim has also started implementing the first phase of Bo Islands. The company has begun excavation work, as well as the construction of artificial lakes, and has already completed 85% of the project’s roadwork. Total investments for Bo Islands have reached EGP3.5bn.
The Bo Islands project covers 300 acres and is designed by the English firm AECOM, in collaboration with Spanish company HCP, according to the statement.
“Lakes, waterways, and green areas constitute around 88% of the project’s total area in order to provide privacy to each unit. The project includes 5 and 4 star hotels, in addition to commercial zones, parks, a medical center, and a global university,” the statement read.
Both Bo Islands and Bo Sands are part of the Bo Sidi Abdel Rahman project which is located on the North Coast. The Maxim Investment Group signed the contract for the project during the Matrouh Economic Conference in 2015.
Daily News Egypt