Tesla Development concludes the sale of the first phase of the Tesla Residences project and launches a new phase with strong investment advantages.
Tesla Real Estate Development Company has successfully sold out the first phase of its "Tesla Residence" project in record time, bolstering the company's plan to launch the second phase. This comes amidst expectations of even greater demand for the new phase, reflecting the growing interest from customers and investors and underscoring the project's significant investment advantages.
Alaa El-Sheikh, Head of the Commercial Sector at Tesla Real Estate Development Company, confirmed that the rapid demand for the first phase reflects customer confidence in the company's vision and its ability to deliver a comprehensive real estate product that combines a strategic location, diverse activities, and high-quality planning and execution. He noted that the project has successfully met the needs of a wide segment of those seeking housing and investment opportunities in West Cairo.
He added that the company is currently launching the second phase of the project, which includes fully furnished and finished hotel-style residential units built to the highest international standards. He emphasized that initial indicators and the volume of inquiries reflect strong expectations for this phase, given its high investment returns and ease of operation and management. The management company responsible for operating the hotel component of the project will be announced soon.
He explained that the Tesla Residence project is being built on 26 acres in West Cairo, boasting a prime location directly opposite MSA University on the Oasis Road. This prime location offers significant added value, both in terms of easy access and sustained demand for the various unit types within the project.
He added that the project represents an integrated urban destination encompassing residential, commercial, hotel, administrative, and medical facilities. It offers residential units of varying sizes, a 450-meter-long commercial promenade, a medical building, and several administrative buildings, all of which will enhance employment opportunities and ensure continuous activity within the project.
He further explained that the Tesla Residence project has been divided into four sales phases, with deliveries planned to begin within three years according to a clear timeline. The company aims to launch a truly unique real estate project in West Cairo.