Somabay · Red Sea, Egypt
Coral Coves
Project information
Under construction
A residential position reworked through feasibility, topography and value.
Coral Coves is a development optimisation project. The original position was tested against the site topography, product mix, pricing, absorption, construction cost and overall investment return. The original position comprised 173 units and approximately 22,219 m² of BUA. The selected position increased the development to 201 units and approximately 26,719 m² of BUA. Three directions were considered: retaining the original scheme, adding density without properly responding to the topography, and selectively intensifying the development. The selected approach was the selective intensification option because it created a stronger balance between capacity, value and the physical character of the site.
- Location
- Somabay, Red Sea, Egypt
- Project type
- Residential community
- Dates / stage
- Under construction
- Role
- Development Management
Somabay
Development Management
2020–Present27 photographed projects / views
Destination planning
Wyte
Wadi Soma
Coral Coves
Soma Coves
Mesca Edition
Blanca Gardens
Blanca Gardens II
Baywest Valley
Arc Lagoon
Arc Golf Edition
Wadi Jebal
Blanca Residences
Blanca Classic Collection
Golf Town
Mazeej
Mesca Heights
Mesca Golf Edition
Nautilus
Reef Town
Soma Breeze
Habitat
Somabay Headquarters
Baycentral
Baywest
Somabay Sports ClubMarina Residences · destination contextMy role
Development management.
This was one of the projects where my role was closely connected to both the financial case and the physical development.
- Built and updated the feasibility models for the different development options.
- Tested GDV, pricing, absorption, CAPEX, cash flow, margin, IRR and NPV.
- Compared the original position, the high-density option and the selective intensification option.
- Coordinated the product mix, area schedules and masterplan changes.
- Managed the required authority and stakeholder submissions.
- Prepared the recommendation for the selected development position.
- Carried the approved option into the development brief and the next delivery stages.
The selected case recorded a reported 72% margin, 42% IRR and approximately EGP 2.0 billion NPV.
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