Ajna Developments gears up to launch a mixed-use project in east Cairo, Chairperson of Ajna Developments Osama Shalaby has announced.
Shalaby said that the state’s continued development of urban areas ensures the continued presence of investment opportunities for serious companies. He added: “Despite challenges imposed on the real estate market, opportunities still exist for companies with strong financial solvency, flexibility and a strong business precedent, which increase clients confidence in these companies.”
Shalaby pointed out that the company is working on its expansion plan in parallel with completing construction work on its current project.
He disclosed that the facilities provided by the government to support the real estate market boost the expansion plans of companies, as well as, enhance companies to innovate in order to provide properties capable of global competition.
Chief Commercial Officer at Ajna Developments Moataz Shalaby said that the official launch of the project is planned in the first quarter of 2024.
He highlighted that the company will announce more details of the project soon with its official introduction to clients in the real estate market.
Ajna Developments is currently working at full capacity in the Carnelia project in Ain Sokhna in parallel with the new launch, Shalaby noted.
He concluded: “Carnelia Sokhna resort is being built on 100 feddan, with total investments exceeding EGP 8bn. The project is being developed over six phases comprising villas, twin houses, townhouses, chalets, a 5-star hotel, and a commercial area.”
