In the sixties amidst the harsh economic times of President Abdel Nasser’s reign, Sami El Ashram had aggressively entered the development and urban development sectors re-introducing home ownership and private property development for individuals.
The first project was in Aboul Fedda, Zamalek with a 12-story apartment building, consist of 44 apartments. In a short period thereafter, a 10,000 square meter plot of land of in Zamalek was purchased, segmented, and resold to individual home owners. Development and urban development continued for the coming decades within Cairo with the last apartment building was built in Giza over 2000 square meters, 23 stories, 80 apartments, and 2000 square meters of commercial space. Urban development went on into the 90’s to include a 580 acre urban development 53 kms outside of Cairo, consisting of 300 housing plots.
By the mid 90s an suburban development project was begun on the outskirts of Cairo. Las Palmas Mansions was located 52 km outside of Cairo covering 580 acres. The project was designed to market 300 plots of land for the construction of mansions from twelve pre-defined designs. By the end of ’98 the Egyptian stock exchange experienced a sharp downfall, which was later to have a profound effect on the Egyptian housing market. By the end of 1999 the entire project concept was sold to a group Arab investors from the Gulf region with a handsome profit, which propelled the move towards international development activity.
Currently a development project is underway in Sakkara, Giza, Egypt called Sarayat Sakkara. It’s in a location 14km, 20 minutes driving outside the heart of Cairo spanning over 120,000 square meters. Sarayat Sakkara entails 24 mansions of 600 – 900 square meters amongst 40 year old trees, a setting of total tranquility. The project is being designed as a wholesome community for a select few, with all the amenities, services, and recreational facilities for peaceful, prosperous living.
International development began with urban development projects in the early 80s and continues today in European markets with housing development projects and urban development.
In the early 80s, Sami El Ashram, began international development by purchasing a 10 hectare plot of land for urban development in the city of Fort Myers, Florida in the United States. Thereafter US operations were halted to logistics inconvenience and international development was paused due to increased demand in the Egyptian market. By the late 90s Europe was put into perspective as market of excellent potential, where operations began by the beginning of the millennium.
European development operations have been created and led by Diaa El Ashram, bringing the Ashram family an active standing role in the Rhone Alpes region of France, specifically on the borders of Geneva Switzerland. Operations have included housing projects of town-houses, independent villas, renovated buildings, and urban development. To date 10 projects have been completed in Rhone Alpes, France: