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24638 13 Nov 2020

Seldar Egypt - Opening of Al Jazi Egypt

The second phase of Al Jazi Egypt project; the first luxury-branded residences in Egypt

Egypt, Cairo 10 November 2020: Seldar Misr, a leading firm in real estate and hospitality investment and the holding company of ALJAZI Egypt, is pleased to launchJW Marriott Residences New Cairo, Al Jazi Gardens, the first luxury branded residences in Egypt and the second phase of its Al Jazi Egypt project.

Located in the center of New Cairo within easy access of the airport and with an investment value of EGP7 billion, the Al Jazi Egypt project is spread over 266,500m2comprising of four projects in total: the commercial construction of 'Al Jazi First Mall' and the 'Al Jazi Chess Field' commercial area, and two residential developments that carry Marriott Internationals brands, 'JW Marriott Residences New Cairo, Al Jazi Gardens' and 'Marriott Residences New Cairo, Al Jazi First' which was launched earlier this month and is now completely sold out.

All the ALJAZI Egypt projects are fully built and the residential units of JW Marriott Residences New Cairo, Al Jazi Gardens can be viewed in person by interested buyers selecting their on-the-ground unit.

The development has many unique attributes and is LEED certified for the quality of its building design and energy resources. Residents can benefit from the developments impeccable attention to interior design detail, a range of unit sizes, luxurious finishing, world class fire and safety systems, and the high quality external environment which for the first time in Egypt provides traffic-free pedestrian movement around the project by directing vehicles through a system of underpasses.

TheJW Marriott Residences New Cairo, Al Jazi Gardensdelivers nothing short of an exceptional new concept in contemporary residential living that combines impeccable hospitality services with the highest international standards of design, quality and safety of construction, offering a unique client experience and environment that matches residents needs and expectations of excellence and luxury. Every aspect of this project - from the logistics to the construction materials to the interior and exterior environment and landscaping - has been designed and executed to the highest specifications by combining the outstanding capabilities of the team across each of these phases.

Commenting, Mr. Tarek M. El Sayed, Chairman of Seldar Misr, said:"Following the project's first phase - 'Marriott Residences New Cairo, Al Jazi First' - the success of which reflects the strength of the Egyptian economy and consumer appreciation for quality, it is with great pleasure that we launch this second phase - 'JW Marriott Residences New Cairo, Al Jazi Gardens' - in collaboration with the world-leading hospitality company, Marriott International. As we introduce the concept of branded residences to Egypt, JW Marriott Residences New Cairo, Al Jazi Gardens sets the standard in the trend towards high-end and hassle-free living. And it is with pride that we can say that this project has been fully constructed through in-house financing and before any residences went on sale, reflecting the trust and confidence in our offering. I am confident that the project's many unique qualities, such as its focus on hospitality living, well-being and convenience, will be highly valued, as will the variety of size and interior designs it provides to meet every clients needs and tastes. Finally, I would like to invite those who appreciate luxurious living to come and walk through our new project so that they can explore this unprecedented experience for themselves."

Mr. Jerome Briet, Chief Development Officer Middle East and Africa, Marriott International, added: "We are delighted to work with Seldar Misr to deliver a new era of luxury living with JW Marriott Residences New Cairo, AL JAZI Gardens. Marriott International has more than five decades of presence in Egypt and as one of the most awe-inspiring and sought-after destinations in the world, we are committed to enhancing our portfolio and working with our partners to continuously bring new concepts to life for residents and consumers in the region. This incredible project marks Marriott International's first branded residences in the country, and we are excited for future residents to experience the luxury services and amenities of the JW Marriott brand in their own homes."

A license and management agreement with Marriott International was signed by Seldar's Misr subsidiary Gulf Building and Construction to bring the first branded residences to Egypt.

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About Seldar Misr:

Seldar Misr was established in 2007 with the aim of becoming a leader in Egypts hospitality and real-estate investment sectors with a long-term investment outlook. The investments of Seldar Misr are concentrated in the main business hubs of Egypt Cairo, Alexandria and Hurghada, with several affiliated projects in the MENA region, Europe and the USA.

Seldar Misr operates through eight fully-owned subsidiaries First Arabian Hotels Resorts Company, Gulf Building and Construction, Arab Investments Company, Al Samerya Company for Real Estate Development and Tourism, Seldar Misr for Tourism Investment, Senyar Tourism, Delta Tourism Hotels and Senyar HR Development. Some of Seldar Misrs projects in Egypt are: Four Seasons Hotel Cairo at The First Residence, The First Mall, The Nile Boat by Four Seasons, Hilton Alexandria Corniche Hotel, Hilton Hurghada Plaza Hotel and Hurghada City Center, Aleph Hurghada Residences, and Al Jazi Egypt.

For more information, please visit our website:www.seldar-eg.com

Disclaimer

The JW Marriott Residences New Cairo, Al Jazi Gardens, Marriott Residences New Cairo, and Al Jazi First are not owned, developed or sold by Marriott International, Inc. or any of its affiliates. Gulf Building and Construction uses the JW Marriott marks and Marriott marks under a license from an affiliate of Marriott International, Inc.