Latest news with #MabanyEdris
Daily News Egypt
04-05-2025
- Business
- Daily News Egypt
Mabany Edris launches Ons New Zayed with EGP 13.5bn investment across 84 feddans
Mabany Edris has unveiled its latest project in Egypt's real estate market—Ons New Zayed—with a total investment of EGP 13.5bn. The development spans 84 feddans in New Zayed City, West Cairo, strategically located just minutes from the Grand Egyptian Museum (GEM), the Giza Pyramids, and the Sphinx. Its proximity to Sphinx International Airport further positions it near one of the world's most iconic tourist destinations. Mohamed Idris, CEO of Mabany Edris, stated that the company collaborated with Alchemy Design Studio, a leading Egyptian design firm, to create the architectural concept for the project. The goal, he said, is to present an innovative residential product that adds tangible value to Egypt's real estate market. Ons New Zayed will comprise 1,012 units of various sizes and configurations, including one-bedroom apartments, townhouses, twin houses, and villas. Apartment sizes will range from 60 to 200 square meters, while villas will span 160 to 297 square meters. The project will also feature serviced apartments intended for foreign tenants, and a hotel catering to New Zayed's emerging tourism potential. In addition to its residential offering, the project will include a wide array of amenities and services, such as a social club, commercial and administrative buildings, sports courts, and a mosque. Idris explained that Ons New Zayed will be developed in four phases, with residential areas accounting for no more than 15% of the project's total land area. All residential buildings will consist of a ground floor plus two stories, in keeping with the project's low-density planning approach. The entire project is scheduled for completion within four years, with the first phase expected to be delivered to clients in 2029. Discussing the company's broader investment strategy, Idris revealed that Mabany Edris plans to inject EGP 2bn in investments during 2025, including EGP 1bn earmarked for construction. Of that, EGP 200 million was already spent in the first quarter of 2025 to accelerate project execution and meet contractual obligations. 'Our target is to deliver no less than 300 units this year,' Idris said, adding that the company is currently negotiating to acquire more land in 6th of October City, East Cairo, the North Coast, and New Assiut. 'We will announce new project details soon,' he added. Regarding its North Coast developments, Idris noted that the company has completed 30% of the first phase of its Koun project, located in Ras El Hekma. The project is progressing at a fast pace and is scheduled for delivery in 2027. Koun spans 110 feddans and is located at Kilo 201 on the Alexandria–Marsa Matrouh Road. It includes more than 1,500 units, featuring various layouts—from one- to three-bedroom chalets, as well as townhouses, twin houses, and villas—to cater to a wide range of customer needs. With over 25 years of experience in Egypt's real estate sector, Mabany Edris began as a construction and engineering firm before expanding into real estate development. Since then, the company has delivered a diverse portfolio of residential, commercial, administrative, medical, and industrial projects.
Zawya
29-04-2025
- Business
- Zawya
Egypt's Mabany Edris launches $266mln ONS New Zayed project
Egyptian private real estate developer Mabany Edris announced the launch of 'Ons New Zayed,' a new residential project in New Zayed City, with total investments of 13.5 billion Egyptian pounds ($266 million) The company's CEO Mohamed Idris told Zawya Projects that the 84-acre project will feature 1,012 units ranging from one-bedroom apartments to townhouses, twin houses, and villas. He said the developer has partnered with Alchemy Design Studio to develop the architectural design. The project will also include hotel apartments targeted at foreign visitors, a hotel to support the city's growing tourism sector, a social club, administrative and commercial spaces, sports courts, and a mosque. Idris noted that Ons New Zayed is strategically located in New Zayed City to align with West Cairo's growing real estate, tourism, and services demand, particularly with the upcoming inauguration of the Grand Egyptian Museum and the operation of Sphinx International Airport. The project will be developed over four phases, with the residential component covering no more than 15 percent of the total area. The buildings will comprise a ground floor and two stories. Delivery of the first phase is scheduled for 2029, with full project completion expected within four years. Idris said the company plans to invest an additional EGP 2 billion ($39 million) in 2025, allocating EGP 1 billion ($20 million) to construction works. He added that EGP 200 million ($4 million) had already been spent in the first quarter of the year to accelerate project execution. The company aims to deliver at least 300 units in 2025 and is in negotiations to acquire more land in the 6th of October City, East Cairo, the North Coast, and New Assiut, Idris disclosed He also provided an update on the company's 'Koun' project in Ras Al Hekma on the North Coast, saying 30 percent of the first phase has been completed. Spanning 110 acres at Kilo 201 on the Alexandria-Marsa Matrouh Road, 'Koun' includes over 1,500 units ranging from chalets to villas, with delivery scheduled for 2027. Founded more than 25 years ago, Mabany Edris has built a diversified real estate portfolio that includes residential, commercial, administrative, medical, and industrial projects, with a significant presence in West Cairo. (1 US Dollar = 50.76 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) (
