TOREC Developments has begun implementing interlocking and landscaping works at the "Bliss Gate" Compound, situated on the Cairo-Alexandria Desert Road, in compliance with directives from the Minister of Housing, Engineer Randa El-Manshawi.
This initiative underscores the Ministry of Housing's commitment to achieving high levels of customer satisfaction and providing integrated services that ensure an ideal quality of life. The Sheikh Zayed City Authority is responsible for executing the interlocking works.
Event Details
Engineer Mohamed Anwar, the Executive Director of TOREC Developments, reported that the company immediately began addressing customer suggestions for the Bliss Gate project after receiving approval from the company's Board of Directors. These suggestions were discussed in a recent meeting with project owners' representatives. Some tasks, such as the iron fence, tree enclosure, bike track, and lighting, have already been completed.
Anwar noted that the interlocking works and remaining services are progressing rapidly, and this developmental surge coincides with the company's approach to project handover. Currently, the swimming pool is being handed over to AFM, a subsidiary of the Dorrat Group, which manages and operates the Bliss Gate Compound.
Background & Context
TOREC Developments was established in 2015 under the name "Al-Tameer for Real Estate Development - Al-Oula," with a shareholder structure comprising the New Urban Communities Authority and Al-Oula Real Estate Financing Company. The company has witnessed significant growth in capital, increasing from 5 million EGP to 500 million EGP in 2022.
At the beginning of 2021, the company embarked on a new path towards expansion in the Egyptian market, appointing a new executive management team and raising the New Urban Communities Authority's stake in the company to approximately 67% of total shares.
Impact & Consequences
TOREC aims to strengthen its position in the Egyptian real estate market through collaboration with leading companies specializing in implementation, finishing, and project management. This collaboration reflects the company's vision to achieve the highest levels of customer satisfaction and enhance trust in its projects.
The company will also assign the management of the Club House to a specialized firm, in addition to executing the Kids Area after completing the main items of the project. The painting works of the buildings are reviewed with the consultant individually as needed.
Regional Significance
The Bliss Gate project represents a model of modern real estate development in Egypt, contributing to improving the quality of life for residents and reflecting contemporary trends in housing. The project features an advanced centralized IPTV system, providing a high-quality experience for residents.
These projects are a significant step towards enhancing urban development in Egypt, attracting more investments and boosting economic growth in the region.