Egypt: Special Group, Mint Real Estate launch '40 Square' residential project in New Capital
Egypt - Special Group for Trade and Investment, in partnership with Mint Real Estate Asset Management, has announced the launch of 40 Square, a new residential development located in the New Administrative Capital (NAC).
The announcement follows a strategic agreement signed in March, under which Mint will manage all of Special Group's real estate assets, beginning with this flagship project.
Situated in the Residential Investors District, 40 Square spans more than 40 feddans and enjoys a prime location near the Green River Park, the government district, and key infrastructure. The project is designed to offer smart residential units, extensive open spaces, and integrated services, with a strong focus on long-term livability and functionality. It will include approximately 1,477 residential units, with the first phase slated for completion in 2026. Total investments are projected to exceed EGP 7 billion.
This development marks Special Group's debut in real estate, building on its established expertise in construction, infrastructure, and service delivery. The move reflects the company's broader strategy to shift toward long-term value creation across its asset portfolio.
'Diversification has always been central to how we grow,' said Mohamed Asaad, Chairperson of Special Group. 'Our experience spans construction, healthcare, and industrial services. Entering real estate development is a natural extension of that strategy. But it's not just about building—it requires structure, planning, and long-term thinking. That's why we partnered with Mint, to bring expertise and discipline to every stage of the process.'
Tamer Erfan, Chairperson of Mint Real Estate Asset Management, said: 'This partnership aligns perfectly with our vision of delivering projects that provide real, sustainable investment value—particularly in today's challenging market. 40 Square is more than a development; it's a chance to reshape real estate investment into a long-term, stable model, backed by intelligent planning and effective execution. That's the qualitative difference Mint brings to the table.'
Mint will lead the commercial direction of the project, overseeing strategic planning, marketing, CRM, and sales. Their role will be critical in ensuring 40 Square not only launches successfully but is positioned for sustained performance.
'Today's real estate market isn't driven by supply alone—it's shaped by selectivity, affordability, and strategic positioning,' said Alia El Nagdy, CEO of Mint Real Estate Asset Management. '40 Square enters the market at a moment of both opportunity and constraint. Our goal is to align the project with how people want to live, invest, and grow. We're not just reacting to the market—we're anticipating it.'
El Nagdy noted that while the NAC continues to attract long-term investment, the broader real estate sector faces growing pressures from inflation, cost volatility, and shifting consumer demand. Projects that endure, she emphasized, will be those rooted in solid fundamentals and guided by clear operational models—principles that define 40 Square.
The launch of 40 Square sets a strategic tone for both companies' visions of the future of real estate development: one grounded in disciplined execution, operational clarity, and long-term value creation. As Special Group expands its footprint in the sector, and Mint continues to redefine real estate asset management in Egypt, their collaboration offers a model for sustainable, performance-driven development.
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