Latest news with #AlAhlySabbourDevelopments
Zawya
17-04-2025
- Business
- Zawya
Al Ahly Sabbour launches Egypt's first 'own-to-rent' development in New Cairo
Egyptian developer Al Ahly Sabbour Developments announced on Wednesday the launches the first phase of 'The Mornings,' the country's first 'Own-to-Rent' project. The company said in a press statement that the mixed-use project, spread over an area of 14 acres in New Cairo, contains 630 residential, commercial, administrative and medical units The statement said the project is anticipated to generate sales worth 11 billion Egyptian pounds ($215 million). Al Ahly Sabbour has collaborated with local building management services firm BirdNest to roll out the 'Own to Rent' concept. Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour said the project is designed to cater to the growing demand for ready-to-rent properties from locals, tourists, and Egyptians living abroad 'With Egypt welcoming 15.7 million tourists in 2024, and a rising influx of expatriates and foreigners seeking furnished units in strategic locations like New Cairo, the demand for flexible, hassle-free housing solutions is at an all-time high,' he noted. Al Ahly Sabbour has teamed up with Rich House for project management and supervision and Azure for design. Project cost and completion timelines weren't disclosed. (Writing by Eman Hamed; Editing by Anoop Menon) (
Zawya
17-04-2025
- Business
- Zawya
Al Ahly Sabbour Developments launches the 1st phase of 'The Mornings' – Egypt's first ‘Own-to-Rent' concept
The mixed-use project features residential, commercial, administrative units, and medical clinics, targeting EGP 11 billion in sales. Cairo – In a first-of-its-kind move in the Egyptian real estate market, Al Ahly Sabbour Developments has officially launched its newest project, 'The Mornings', introducing the innovative 'Own to Rent' concept in collaboration with BirdNest, a leading Egyptian company specializing in residential unit management and rental services. This is Egypt's first project to merge ownership and investment in a single concept, designed for the new generation of investors seeking a modern lifestyle and smart returns. Spanning 14 carefully planned acres, 'The Mornings' is a mixed-use urban development that brings together living, working, and investing in one cohesive experience. The project is expected to generate over EGP 11 billion in sales through more than 630 units, including residential apartments ranging from 60 to 150 sqm, along with commercial spaces, office units, and medical clinics. This wide range of offerings gives the project a strong competitive edge, positioning it as a prime investment destination in today's evolving Egyptian real estate market. To deliver on its vision of launching innovative developments that reflect shifting investment trends and meet evolving market needs, Al Ahly Sabbour has selected a strategic location for the project. Situated in the vibrant heart of New Cairo, between Al Saddat Axis and North 90th Street in El- Yasmine district, the location ensures direct access to key highways and thoroughfares across Greater Cairo. It's also just minutes away from major landmarks including Dusit Thani LakeView Hotel, The American University in Cairo, top international schools, hospitals, and retail centers, enhancing the project's residential and investment value. In line with Al Ahly Sabbour's commitment to delivering a holistic living and investment experience that redefines traditional real estate development, the company has formed a strategic partnership with BirdNest. This collaboration goes beyond conventional property management and leasing—it adds tangible value throughout every stage of the project, starting from the planning phase through to property management and tenant services, ensuring optimal outcomes for both unit owners and tenats. For investors, the partnership offers a hassle-free experience with high rental yields, backed by in-depth market studies that have identified the most in-demand product mix, unit sizes, and finishing standards to meet optimal rental demand—maximizing return on investment. For tenants, BirdNest delivers a full suite of hospitality-inspired services, including laundry, maintenance, and concierge, offering the comfort and convenience of serviced apartments within a private residential setting. Additionally, turnkey furnishing and fit-out options are available to meet the evolving needs of modern lifestyles. Residents will also enjoy a comprehensive range of recreational, wellness, and community amenities, all thoughtfully designed to create a complete and comfortable living environment under one roof. Commenting on the launch, Eng. Ahmed Sabbour, Chairman and Managing Director of Al Ahly Sabbour, stated: 'The Egyptian government continues to prioritize real estate development and promote sustainable investment. At Al Ahly Sabbour, we're proud to be leading this evolution by introducing innovative concepts that respond to economic shifts and appeal to diverse investor segments. 'The Mornings' is a clear embodiment of this vision, offering Egypt's first 'Own to Rent' concept, smart, sustainable investment designed for rising demand in ready-to-rent properties from locals, tourists, and Egyptians living abroad.' He added: 'With Egypt welcoming 15.7 million tourists in 2024, and a rising influx of expatriates and foreigners seeking furnished units in strategic locations like New Cairo, the demand for flexible, hassle-free housing solutions is at an all-time high. That's why The Mornings integrates high-end living standards with smart, sustainable design—featuring eco-friendly materials, zones that could be used as light co-working spaces, and dedicated community engagement zones for relaxation and connection. The result is a future-proof investment opportunity that aligns with global standards and evolving lifestyle needs.' To ensure excellence at every stage of development, 'The Mornings' is backed by a network of strategic partners. Al Ahly Sabbour has teamed up with Rich House to accelerate construction timelines and enhance on-ground performance, boosting the project's overall investment value. Meanwhile, the architectural design concept was developed by Azure, a leading name in urban planning and Architecture design, to reflect the essence of 'The Mornings', evoking brightness, serenity, and comfort. Designed to meet the evolving needs of today's residents, The Mornings delivers an exceptional living and investment experience through a thoughtfully curated selection of community amenities. The development features pedestrian-friendly streets, wellness zones, jogging and cycling tracks, yoga areas, and open-air gyms—promoting a healthy and active lifestyle. Complementing these are lifestyle-focused elements such as boutique retail outlets, diverse dining options, children's play areas, and vibrant communal spaces that foster connection and a sense of belonging. With its distinctive blend of quality, innovation, and livability, The Mornings redefines integrated living and sets a new benchmark for the future of real estate in Egypt.
Zawya
13-02-2025
- Business
- Zawya
Egypt's Al Ahly Sabbour to invest $197mln in 2025
Egypt - Al Ahly Sabbour Developments has reported a strong performance in 2024, surpassing its annual sales target by achieving EGP 32.5bn compared to the projected EGP 30bn. The company also delivered 2,500 residential units this year and plans to hand over an additional 1,500 units in 2025. Looking ahead, Al Ahly Sabbour aims to generate EGP 32bn in sales next year, backed by an ambitious EGP 10bn investment plan to accelerate construction and development across its projects. During a recent press conference, the company announced new partnerships with leading global and local firms to enhance its developments. Egyptian infrastructure giant EJAB has been contracted to commence infrastructure works for the KEEVA project, with an investment of EGP 1bn. Additionally, Al Hazek Constructions has successfully completed the first phase of KEEVA. For the Alaire project, Build Tec has been assigned to develop infrastructure and roadworks following its successful execution of L'Avenir in Mostakbal City. Meanwhile, construction firm ICON will handle the exterior walls and gates for Alaire, Woodwalks, Rare, and The Ridge, ensuring high-quality standards. Several of Al Ahly Sabbour's key projects have reached significant milestones. The Green Square project has been fully delivered, while L'Avenir is 100% constructed, with 60% of units already handed over and the remaining deliveries scheduled for completion by the second quarter of 2025. The first batch of Alaire deliveries is set for 2025, while the first phase of the GAIA project has been completed, with Phase 2 deliveries beginning in summer 2025 and full completion expected by summer 2026. In the KEEVA project, Phase 1 deliveries will start by the end of 2025. As part of its regional expansion strategy, Al Ahly Sabbour has launched Wadi Zaha in Sultan Haitham City, Oman, while maintaining a strong focus on Egypt's real estate sector. The company will begin 2025 with two major project launches. SUMMER VIBES, the second phase of the SUMMER project in the North Coast, will feature 1,728 residential units with a total investment of EGP 10.5bn. Chalets will range from 88 sqm to 134 sqm, some offering private gardens or rooftop terraces. Positioned near a central lagoon, the phase will also include a boutique hotel, retail outlets, entertainment zones, and dining options. To ensure world-class quality, Al Ahly Sabbour is partnering with a globally renowned beach design consultancy to develop SUMMER's private beach. In parallel, the company is expanding its AT-EAST project in Mostakbal City with a new release valued at EGP 2bn. The development will feature 700 residential units, including villas, apartments, and penthouses, with sizes ranging from 65 sqm to 160 sqm. Commenting on the company's growth and vision, Ahmed Sabbour, Chairperson and Managing Director of Al Ahly Sabbour, stated: 'As we enter 2025, we embark on a new chapter—expanding our projects with new phases that align with our vision of creating vibrant, distinguished communities that meet the aspirations of our clients and future generations while contributing to Egypt's Vision 2030 urban development strategy.' This latest expansion reaffirms Al Ahly Sabbour's commitment to driving innovation in Egypt's real estate market while pursuing new opportunities regionally.
Daily News Egypt
13-02-2025
- Business
- Daily News Egypt
Al Ahly Sabbour to invest EGP 10bn in 2025
Al Ahly Sabbour Developments has reported a strong performance in 2024, surpassing its annual sales target by achieving EGP 32.5bn compared to the projected EGP 30bn. The company also delivered 2,500 residential units this year and plans to hand over an additional 1,500 units in 2025. Looking ahead, Al Ahly Sabbour aims to generate EGP 32bn in sales next year, backed by an ambitious EGP 10bn investment plan to accelerate construction and development across its projects. During a recent press conference, the company announced new partnerships with leading global and local firms to enhance its developments. Egyptian infrastructure giant EJAB has been contracted to commence infrastructure works for the KEEVA project, with an investment of EGP 1bn. Additionally, Al Hazek Constructions has successfully completed the first phase of KEEVA. For the Alaire project, Build Tec has been assigned to develop infrastructure and roadworks following its successful execution of L'Avenir in Mostakbal City. Meanwhile, construction firm ICON will handle the exterior walls and gates for Alaire, Woodwalks, Rare, and The Ridge, ensuring high-quality standards. Several of Al Ahly Sabbour's key projects have reached significant milestones. The Green Square project has been fully delivered, while L'Avenir is 100% constructed, with 60% of units already handed over and the remaining deliveries scheduled for completion by the second quarter of 2025. The first batch of Alaire deliveries is set for 2025, while the first phase of the GAIA project has been completed, with Phase 2 deliveries beginning in summer 2025 and full completion expected by summer 2026. In the KEEVA project, Phase 1 deliveries will start by the end of 2025. As part of its regional expansion strategy, Al Ahly Sabbour has launched Wadi Zaha in Sultan Haitham City, Oman, while maintaining a strong focus on Egypt's real estate sector. The company will begin 2025 with two major project launches. SUMMER VIBES, the second phase of the SUMMER project in the North Coast, will feature 1,728 residential units with a total investment of EGP 10.5bn. Chalets will range from 88 sqm to 134 sqm, some offering private gardens or rooftop terraces. Positioned near a central lagoon, the phase will also include a boutique hotel, retail outlets, entertainment zones, and dining options. To ensure world-class quality, Al Ahly Sabbour is partnering with a globally renowned beach design consultancy to develop SUMMER's private beach. In parallel, the company is expanding its AT-EAST project in Mostakbal City with a new release valued at EGP 2bn. The development will feature 700 residential units, including villas, apartments, and penthouses, with sizes ranging from 65 sqm to 160 sqm. Commenting on the company's growth and vision, Ahmed Sabbour, Chairperson and Managing Director of Al Ahly Sabbour, stated: 'As we enter 2025, we embark on a new chapter—expanding our projects with new phases that align with our vision of creating vibrant, distinguished communities that meet the aspirations of our clients and future generations while contributing to Egypt's Vision 2030 urban development strategy.' This latest expansion reaffirms Al Ahly Sabbour's commitment to driving innovation in Egypt's real estate market while pursuing new opportunities regionally.
