The Land Developers (TLD), a leading real estate developer, is ending 2023 on a high note, solidifying its position in the local market with a 52-acre landbank and a capital of approximately EGP 4bn. The developer marked unprecedented success across its diverse projects dispersed across various locations. Among their accomplishments is the completion of the first phase of the Armonia project, situated in the New Administrative Capital and considered one of the most sustainable projects with a focus on smart buildings. Additionally, TLD has made significant progress in il Bayou, in Sahl Hasheesh, Red Sea, completing 40% of the construction. With a commitment to contribute to the growth of the national economy, TLD has created 120 direct job opportunities and more than 3000 indirect job opportunities. Demonstrating great resilience and outstanding performance, TLD managed to navigate the challenges facing the Egyptian real estate industry capitalizing on the Group's long-standing experience in the sector, adopting a strategic direction to develop residential projects that adhere to the highest standards. As a result, TLD has exceeded its targeted sales for 2023 by more than 120%. The company also succeeded in selling 70% of the units in both Armonia and il Bayou projects reflecting the administrative breakthrough the company has witnessed. Built on an area of 42 acres with a total investment of EGP 3.5bn, Armonia New Administrative Capital boasts 1,750 luxurious residential units designed to prioritize the residents' privacy Built on an area of 42 acres with a total investment of EGP 3.5bn, Armonia New Administrative Capital boasts 1,750 luxurious residential units designed to prioritize the residents' privacy. Ranging from 80 sqm to 350 sqm in size, the units occupy only 20% of the project's total area, while the remaining space is dedicated to services and greenery. Impressively, 70% of the project has already been sold, including all the units in the first and second phases. Aligning with government initiatives to boost real estate exports, TLD succeeded in attracting 30% of the il Bayou project's clientele base from foreigners seeking secure and stable investment opportunities and it plans to attract more foreigners to its projects. With total investments of EGP 500m, il Bayou is an integrated serviced compound spanning 45,000 sqm, offering fully-furnished villas of different sizes; the remaining area is allocated for services and green spaces. Currently, 40% of the construction has been completed and more than 70% of the projected sales have been achieved this year, marking another key milestone. With a curated strategy to maintain its leadership in the real estate market, TLD Group embarks on its 2024 journey with EGP 700m investments to expand its landbank to reach 80 acres. The company also plans to launch new phases in Armonia and il Bayou as it aims to fully deliver the first phase of Armonia. With ambitious goals, TLD eyes sales worth EGP 2.5bn in 2024 as well as exploring investment opportunities in new areas. The company intends to announce new projects across various locations in 2024 to cater to customers' needs and market demands.
