Egypt’s real estate market includes investment opportunities available to serious companies, says chairman

We are looking for flagship projects to provide a real estate product that suits our customers, says CCO

Ajna Developments gears up to launch a mixed-use project, which will be a distinctive landmark in east Cairo, and will be integrated with the project that the company is currently developing in local market.

Chairman of Ajna Developments Eng. Osama Shalaby stated that the state’s continued development of urban renaissance ensures the continued presence of investment opportunities for serious companies, added, “Despite challenges imposed on real estate market, opportunities are still exist for companies with strong financial solvency, flexibility and a strong business precedent, which increase clients confidence in these companies.”

Shalaby pointed out that the company is working on its expansion plan in parallel with completing construction work on its current project, which reflects a comprehensive vision and detailed plans for the company.

He further noted that the company continues to carry out market studies to constantly discover available investment opportunities to acquire the best.

He disclosed that the facilities provided by the government to support real estate market enhances the expansion plans of companies, as well as, enhances companies to innovate in order to provide properties capable of global competition.

Chief Commercial Officer at Ajna Developments Dr. Moataz Shalaby said that the project features a unique and prime location that guarantee a greater return on investment for the project tenants continuously, especially in the case of the availability of services near the project site. This achieves integration in a portfolio of projects and meets needs of a broad base of existing and target customers.

Dr. Moataz Shalaby added that the official launch of the project is planned in the first quarter of 2024.

He elaborated that the company is always looking for distinguished projects in all their features, starting with choosing an exceptional location for the project, implementing a unique architectural design, and developing the best internal division of the project to ensure the best use of space, especially in light of the high cost of constructions.
He highlighted that the company will announce more details of the project soon with its official introduction to clients in real estate market.

Ajna Developments is currently working at full capacity in Carnelia project in Ain Sokhna in parallel with the launch of the new project, which reflects the continuation of construction works with strength and continuous keeping up with all market developments and their reflection on the company’s plans, Shalaby noted.

He concluded, “Carnelia Sokhna resort is being built on 100 feddans, with total investments exceeding EGP 8bn. The project is being developed over 6 phases comprising villas, twin houses, townhouses, chalets, a 5-star hotel, and a commercial area.”