Egypt has recently witnessed a large expansion in the construction of housing projects known as compounds by prominent real estate development companies. This is no longer limited to Cairo and its suburbs, but also included new cities such as Al Fayoum Al Gadida, New Minya and others appeared which makes a good variety in prices and options. In Aqarmap, we are keen on tracking the movement of the real estate market through the Aqarmap index to let the consumer know what is new.
Information about the Real Estate Developer
Tower Bay housing compound is one of the most important real estate and touristic achievements of “Tower Group Company for real estate and tourist development” which started its activity 32 years ago in the mid-1980s in developing real estate, commercial and touristic projects in different areas, such as: “Marsa Alam City, New Cairo City, Port Said City and Sharm El Sheikh City”. The company has also several achievements, including: “many hotels having thousands hotel rooms with a high-level quality, large commercial project in Fifth Settlement area in New Cairo and the latest and most important projects is Tower Bay resort in Port Said which its investments are expected to exceed EGP 5,000,000,000.
Features of Tower Bay Compound
Tower Bay Compound is one of the best compounds in Port Said as it is a tourist, housing and investment project. It is also considered as one of the most important and largest tourist investment projects in Egypt. Tower Bay Compound is characterized by its great design and by providing various housing units suitable for the needs of all the customers; as it offers 2,000 housing units with different areas. The compound is also characterized by having a distinctive unique location upon a wide area of more than 100 feddans. One of the most important features of the project is that it provides several job opportunities for young people
Services of the Tower Bay project
Tower Bay compound provides several services, utilities and entertaining activities for residents and visitors, including the following:
1- Cafes and restaurants
2- Sport activities for those who like sports
3- Entertaining and touristic activities for enjoining and going around with your family and friends
4- Hilton Hotel 5 stars overlooking the sea directly with a high-level quality
5- Educational services through providing international schools
6- Shopping mall
Prices of Residential Units in Tower Bay Compound
Tower Bay Compound is one of the largest investment achievements in the field of tourism in Egypt as its investments exceed EGP 5 billion and it provides housing units with various units starting from 72 M2 with super lux finishing. The units are varying from “studios, apartments, duplexes and villas” and its prices start from EGP 425,000 to EGP 5,000,000.
Payment Systems for Units in Town Bay Compound in Port Said
Tower Bay housing project provides easy ways for payment and facilities in repayment for customers, so you can pay a down payment of 10% – 15% – 25% and pay another equivalent amount of money upon receiving. As for the remaining amount, you can install it from 4 to 7 years, provided that the delivery shall be after 5 years.
Location of Town Bay Compound
Tower Bay resort is characterized by having a distinctive location at kilo 20 in Port Said from the western side. The resort is also near Damietta as it is located in the middle coastal road between Damietta and Part Said.
Tower Way project is located in Port Said and it is one of the most famous and important coastal cities. Port Said has many historical stories full of bravery and nationalism. It was named after Mohamed Said Pasha. The city is located near Suez Canal and it is characterized by many features as follows:
1- Moderate weather
2- Calmness due to its low population density
3-It is one of the most famous Egypt coastal ports
Landmarks of Port Said
1- A distinctive group of gardens, such as: Al Montazah garden, Feryal garden, Al Horreya garden, Saad Zaghlol garden and others
2- A large group of squares, such as: Banzart square, Folkorkad square, Al Shohada square, Al Mansheya square and others
3- Historical landmarks, such as: the Military Museum, the Lesseps Base Statue, Port Said museum and others
4- Touristic landmarks, such as: Romanian Cathedral, Nice island, Nawras village and others
*It is worth mentioning that the prices stated in the article are changeable. In Aqarmap, we are keen on updating the price list of the districts, so as the consumer will be able to know the changes in the real estate market.