Ava Mina Group has launched a new project, Oro Obour, on 28 feddan in Obour City, east Cairo. The project includes 200 villas and a strip mall, with an expected sales value of EGP 3bn.
Ashraf Awad, the chairperson of Ava Mina Group, told Daily News Egypt that the company plans to start the construction of Oro Obour early this year and complete it within three years.
Ava Mina Group has also developed two projects in New Administrative Capital (NAC), Oro and N Mall. The Oro Compound project has 1,600 residential units, a mall, and a mosque, with a total expected sales value of EGP 4.5bn.
Awad said that the company has finished 40% of the Oro Compound project and it will be delivered by the end of 2026.
N Mall covers an area of 2,400 sqm and has two floors, a basement, and a parking garage of 4,600 sqm. The ground, first, second, and third floors are for commercial use, the fourth floor has medical clinics and laboratories, and the fifth to eighth floors are for administrative offices in various fields. The roof is also part of the project.
The group has started the foundation work of N Mall and has signed a cooperation agreement with Unitech Facilities Management to manage the project. It has also signed cooperation contracts with Tropicana Brands Group, one of Amer Group’s companies, to open Studio Misr and Carion’s restaurants and Coffee casino cafes in N Mall project in NAC.
Awad said that Egypt’s real estate market has seen a significant increase in sales due to the high demand for property as a haven and the best investment to protect the value of savings.
