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The developer’s first project in Egypt spans 12 acres in New Cairo’s Fifth Settlement; ties up with ADX-listed Aldar for residential project ASPECT has announced its entry into Egypt’s real estate market with the launch of its first residential development, Jade and Blue, located in New Cairo’s Fifth Settlement near the American University in Cairo. Ahmed Awadallah, CEO of ASPECT and Chairman of UDesign Holding told Zawya Projects that the boutique compound covers 12 acres and is backed by an investment of 15 billion Egyptian pounds ($295 million), with delivery planned within four years. He said the company is also implementing the ‘Winds’ residential tower in partnership with UAE-based Aldar, representing a further EGP 5 billion ($99 million) investment. For Jade and Blue, ASPECT has partnered with Inversion as the strategic business and project development consultant, Grid Design and Engineering as the lead architect, and UDesign Holding for construction. Awadallah said the development strategy emphasises modern simplicity, sustainable construction methods, and efficient resource management. He added that ASPECT has plans for further expansion across East and West Cairo over the next five years, targeting opportunities in the luxury and human-centric community segments. (1 US Dollar = 50.76 Egyptian Pounds) |
