Latest news with #RasElHekma
Zawya
2 days ago
- Business
- Zawya
Egypt's Sky AD to develop 430-acre residential project in Ras El Hekma
Sky AD, a subsidiary of the UAE's Diamond Group, has announced plans to develop a 430-acre plot in Ras El Hekma City on Egypt's North Coast. The project, part of the company's broader strategy to double its investments in Egypt, will be an integrated residential and hospitality development in collaboration with a major partner and will target total sales of around EGP 240 billion ($4.8 billion), said AbdelRahman Agamy, CEO of Sky AD. The press statement didn't disclose project timelines, cost and partner details. Sky AD has been active in Egypt since 2021 and maintains a diverse portfolio of projects across the New Administrative Capital and New Cairo. Key developments include Residence Eight, Capital Avenue, One Residence, and the Bluetree residential and commercial project in New Cairo's Golden Square. Diamond Group holds a total investment portfolio of $1 billion and has delivered more than 17 projects in the UAE, including residential, commercial, educational, and healthcare facilities in Abu Dhabi and Al Ain. (1 US Dollar = 49.69 Egyptian Pounds) (Writing by Eman Hamed; Editing by Anoop Menon) (
Zawya
3 days ago
- Business
- Zawya
NAIA Developments signs strategic partnership with Fairmont Nile City
El-Danasoury: Our partnership with 'Fairmont Nile City Hotels' embodies our deep commitment to delivering luxurious and exceptional experiences to our clients. It also reflects our vision, which focuses on achieving the highest standards of quality and excellence across all our projects. Farag: "Partnerships with prestigious global brands like 'Fairmont' contribute to solidifying the project's appeal as a promising investment opportunity. This also supports the increasing demand for both residential and commercial units." Gamil: Our partnership with 'NAIA Developments' reflects how we think: smart investments, solid execution, and hospitality that speaks for itself.' In a strategic move that reflects its commitment to delivering an integrated residential and tourism experience with global standards, NAIA Developments announced the signing of a co-operation agreement with Fairmont Hotels—an international hospitality leader—represented in this project by Fairmont Nile City Hotel, under which it will operate and manage the Beach Clubhouse at its beach in Ras El Hekma within the 'NAIA Bay' project, with operations set to commence in the summer of 2025, coinciding with the handover of the project's first phase. .This strategic partnership aligns with NAIA's vision of selecting strategic partners from major international companies. This ensures that projects are executed using the latest standards and technologies, contributing to the enhancement of service quality and boosting the project's value as a tourism and investment destination. Furthermore, it solidifies Ras El Hekma's position as one of the most prominent global coastal destinations, which, in turn, supports the national economy. Commenting on this partnership, Eng. Hisham El-Danasoury, Chairman of NAIA Real Estate Developments, stated: "Our partnership with 'Fairmont Nile City' embodies our deep commitment to delivering luxurious and exceptional experiences to our clients. It also reflects our vision, which focuses on achieving the highest standards of quality and excellence across all our projects. Through the management and operation of the Beach Clubhouse at 'NAIA Bay' project's beach, we are keen to offer a distinctive summer experience in accordance with the highest international standards, meeting all our clients' aspirations. This refined experience is complemented by two international restaurant chains on the beach, offering a blend of fine taste and sophisticated service, ensuring a complete and special beach day for all family members. All of this underscores that 'NAIA Bay' is an integrated community of luxury villas, which enhances the project's value and sets it apart from chalet projects, providing a distinguished and unique residential experience." He added: "This partnership not only emphasizes NAIA's dedication to top-tier service but also highlights the precision of our strategic vision in selecting promising locations that attract major global investments. This supports the formation of international partnerships that contribute to boosting the economic and tourism development of Ras El Hekma region, benefiting all integrated projects, foremost among them 'NAIA Bay'. This partnership also helps solidify Ras El Hekma's position as one of the most prominent luxury tourist destinations on the Mediterranean Sea." Magdi Gamil, General Manager of Fairmont Nile City, said: 'At Fairmont Nile City, we see NAIA Bay's Beach as a strong opportunity to grow with the right partner in the right place. L'Uliveto by the Sea is more than just a restaurant—it's a concept shaped by real experience and guest demand. We're bringing the essence of our Italian dining to the coast, with the same focus on quality, simplicity, and value. This partnership reflects how we think: smart investments, solid execution, and hospitality that speaks for itself.' For his part, Mohamed Farag, Vice Chairman of the Commercial Sector at NAIA Real Estate Developments, 'NAIA Bay' project is witnessing a remarkable acceleration in the pace of work, coinciding with our strong commitment to handing over the first phase units this year. We are focused on adhering to the specified timelines and applying the highest quality standards across all execution stages, from construction work to the final interior and exterior finishes of the units, which are implemented using the finest materials and in collaboration with leading specialized companies, all in accordance with the highest international specifications and standards." He added: "Our partnership with Fairmont Nile City represents a pivotal strategic step. It's not just an addition to 'NAIA Bay' project, but a clear affirmation of our commitment and ongoing dedication to our clients, whom we consider true partners in our success. Through this collaboration, we aim to foster mutual trust and sustainably increase the investment value of their units, keeping pace with market development. We also believe at NAIA Developments that partnerships with prestigious global brands like Fairmont contribute to solidifying the project's appeal as a promising investment opportunity. This supports the rising demand for residential and commercial units, which positively impacts price growth and future returns. This comes as part of our continuous endeavor to deliver a luxurious beach experience and an exceptional quality of life for our clients, while consolidate Ras El Hekma's position as a world-class coastal destination that attracts visitors from around the globe." It's worth noting that the partnership with Fairmont Nile City complements a series of strategic collaborations NAIA Developments has forged with a selection of international partners, including a cooperation agreement with the global Accor Group to operate and manage two hotels under the Swissôtel and Swissôtel Residences brands within "NAIA Bay" project. These are slated to open in the third quarter of 2027, making them the first hotels to become operational in the Ras El Hekma area. Additionally, NAIA signed a cooperation agreement with Vodafone Egypt to provide high-speed internet, digital TV broadcasting, and landline telephone services (Triple Play) across its various projects. Regarding design and planning, NAIA collaborates with Crystal Lagoons, the global company holding the patent for creating crystalline lagoons within "NAIA Bay" project. This is in addition to Al-Ghoneimi Engineering Consultants, which handles the project's design and planning tasks. NAIA has also signed with ÖKOPLAN, a specialized international engineering consultancy that provides comprehensive design solutions for built environments, such as the Abu Simbel resort. Furthermore, NAIA has partnered with Kyme Alchemy, a firm specializing in design and decoration for finishing residential units in "NAIA WEST" project, and with Raafat Miller, a leading design and engineering consultancy, to develop the architectural concepts for its project.
Zawya
3 days ago
- Business
- Zawya
MIP launches Hilltop at Solare – Ras El Hekma's exceptional year-round coastal destination
Cairo: Misr Italia Properties (MIP) has announced the launch of 'Hilltop', the new phase at its coastal flagship project Solare, an exceptional year-round destination in Ras El Hekma. This milestone marks a new step in realizing the project's vision to redefine coastal living in Egypt, offering an integrated lifestyle experience rooted in comfort, luxury, and contemporary living. The new phase boasts panoramic views and modern designs that harmoniously blend nature with contemporary architectural planning, embodying the company's commitment to creating fully integrated communities. The launch comes alongside notable construction progress across Solare, reaffirming MIP's dedication to delivering on schedule and to the highest standards of quality. Hilltop's architecture is inspired by Miami's contemporary lines, and a lifestyle influenced by Mediterranean cities, set across cascading elevations that range from 26 to 36 meters above sea level; ultimately offering expansive panoramic sea views with enhanced privacy. The phase features over 5,000 sqm of swimmable lagoons, providing each building with its own private beachfront. It includes a variety of unit types ranging between two and three bedrooms. At the highest point of the project, this phase adds the Rooftop Clubhouse, an addition that offers open views of the surrounding scenery. Hilltop also benefits from its close proximity to the Solare Downtown district; an integral component of the larger development currently underway, with an estimated investment of EGP 10 billion. Envisioned as Ras El Hekma's premier commercial, entertainment, and tourism hub, Solare Downtown spans 40 feddans and is expected to attract around 30,000 visitors daily. Commenting on the latest project updates, Eng. Mohamed Khaled El Assal, CEO and Managing Director of MIP, emphasized that every project the company launches carries a distinctive unique identity that reflects its vision of creating exceptional, fully integrated destinations that go beyond conventional residential concepts; adding that Solare perfectly embodies this vision. Developed under the theme of 'A Place Where the Sun Never Sets,' the project stands as a vibrant tourism destination in the heart of Ras El Hekma, offering an integrated contemporary lifestyle through 16 diverse residential, leisure and entertainment experiences that operate around the clock, not just during the summer, but throughout the entire year. El Assal added that achieving this level of excellence would not have been possible without solid partnerships with first-rate local and international experts across all fields; from design and planning, to execution. To secure the highest standards, MIP has partnered with top-tier global and local firms, most notably EDSA and Whitespace Architecture, for the project's master plan, urban design, and landscape architecture. The architectural designs were curated by Synthetic and Design Avenue, with the support of exceptional local talent, who contributed bespoke solutions tailored to meet the aspirations and needs of today's customers. Spanning 386 feddans, Solare Ras El Hekma features a one-kilometer-long sandy beach and a three-kilometer seafront. The project is thoughtfully designed across seven elevations rising up to 36 m above sea level. It comprises over 100,000 sqm of swimmable lagoons, including 30,000 sqm of private lagoons, with 82% of the units offering direct water views. In line with its holistic vision, MIP places premium hospitality at the heart of its development philosophy. The company continuously strives to deliver fully integrated living experiences that seamlessly blend luxury living with hospitality services, a concept brought to life in Solare Ras El Hekma. The destination brings this vision to life by incorporating hospitality into its contemporary lifestyle model, featuring 800 hotel rooms, as well as branded residences, creating a year-round, all-encompassing experience that exceeds customer expectations and caters to evolving needs. On the construction front, excavation, backfilling, and steps works have been completed, along with the ongoing structural work for the seafront units and finishing works for the cabanas. The company has also finalized land grading for phases one and two, and completed approximately 80% of the grading for the remaining phases. These milestones represent the outcomes of the company's collaboration with RedCon, one of the region's leading construction firms. Currently, 723 units are under construction within the project, as part of an investment plan valued at approximately EGP 1.3 billion, representing around 80% of the targeted cabanas in this phase. As for phase two, which focuses on villas, the company has completed nearly 30% of the construction works to date. Moreover, MIP has already commenced work on the next phases of construction, including both internal and external finishing works. The company also plans to kick off new construction activities covering 1,635 units, including both chalets and villas in the upcoming phase, with investments estimated at EGP 7.5 billion. The first handovers are scheduled for 2027.
CairoScene
19-05-2025
- Business
- CairoScene
Arab Investments in Egypt Surge Fivefold to USD 41.5 Billion in 2024
The UAE accounted for the lion's share at USD 38.9 billion, which is largely attributed to the Ras El Hekma megaproject. May 19, 2025 Arab investments in Egypt surged to USD 41.5 billion in FY 2023/24, up from just USD 7.3 billion the year before, according to newly-released data from the Central Agency for Public Mobilization and Statistics (CAPMAS). The UAE accounted for the lion's share at USD 38.9 billion, largely attributed to the Ras El Hekma megaproject. Saudi Arabia followed with USD 775.5 million, and Qatar with USD 618.5 million. Meanwhile, Egyptian investments in Arab countries fell to USD 2.1 billion, down from USD 3 billion. Trade between Egypt and the Arab region hit USD 30.5 billion in 2024 - a 16% year-on-year rise - driven by increased exports in sectors like jewellery, agriculture, and electrical goods. Remittances from Egyptians working in Arab countries totalled USD 13.8 billion, with Saudi Arabia alone contributing USD 8 billion.
Zawya
19-05-2025
- Business
- Zawya
Gates Developments Launches Second Phase of 'Lyv Ceaser' in Egypt's Ras El Hekma
Egypt - Gates Developments has officially launched the second phase of its flagship North Coast project, Lyv Ceaser, located in the sought-after Ras El Hekma area at kilometer 200. With a total investment surpassing EGP 2 billion in 2025, the second phase introduces three distinct zones: 'Bliss' in the sub-lagoon area, 'Shore' on the main lagoon, and 'Muse,' a dynamic district set just behind the waterfront. Spread across 206 acres, Lyv Ceaser has become a key pillar in Gates Developments' strategy to tap into Egypt's growing coastal tourism and residential sectors. The second phase alone is expected to generate EGP 12 billion in sales, building on the remarkable success of the first phase, which achieved over EGP 9 billion in contractual sales since its launch last year. 'We are committed to delivering projects that meet the evolving aspirations of our clients,' said Hassan Nasr, CEO of Gates Developments. 'Lyv Ceaser reflects our vision of creating integrated, lifestyle-oriented communities in prime locations. This project also aligns with Egypt's national goals to position Ras El Hekma as a leading tourism and investment hub on the North Coast.' Nasr highlighted that the launch of the second phase is a natural progression following the trust and demand demonstrated by clients during the first phase. The upcoming phase will offer a wider variety of units featuring updated designs and enhanced amenities. Construction is expected to begin promptly upon permit approvals, with delivery schedules aligned to the project's timeline. Lyv Ceaser stands out with its panoramic views of the Mediterranean, a 400-meter private beach, over 55,500 square meters of lagoons, multiple swimming pools, children's play areas, a gym, restaurant, health club, and expansive walkways — all designed to international standards. Residential options include chalets, villas, and townhouses ranging in size from 85 to 280 square meters, with most units offering direct sea views. Further enhancing the project's appeal, Gates Developments recently unveiled a luxury serviced apartment offering within the 'Lyv Boutique' Hotel, managed by a leading hospitality firm. Designed in partnership with 'Studio Five,' the development includes 32 beachfront cabins, providing upscale, fully serviced living for year-round residents and tourists. 'Ras El Hekma is no longer just a summer escape,' added Nasr. 'It's evolving into a year-round destination for living, leisure, and investment. With Lyv Ceaser, we are proud to contribute to this transformation.' The project forms part of Gates Developments' broader investment strategy, which spans residential, commercial, and hospitality projects across East and West Cairo. The company's total investments exceed EGP 71.2 billion, underscoring its ambition to play a key role in shaping the future of Egypt's real estate sector. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
