Egypt’s real estate developer Cred has announced the launching of its latest and largest projects to date, Ever New Cairo.
In partnership with the New Urban Community Authority, the project is located in New Cairo spanning over 128.5 feddans of land with total investments of EGP 30bn.
Ever New Cairo is part of the expansion plan initiated by Cred in various investment areas around the country.
The project is situated in the 6th settlement of Southern 90 Street, it is an administrative, commercial and residential project.
Ever New Cairo’s built-up area is 350,000 sqm, which is developed over 4 phases. It consists of 2, 100 residential units varied between 500 villas with spaces ranging from 200 to 550 sqm. 1600 fully finished apartments are also included with various spaces as well as a specific administrative and commercial district. The construction works of the project are set to start in 2025 up until 2031.
The whole project is to be completed within 7 years and will be sold in four phases. The first units are expected to be delivered in 2029 with target sales of EGP 35bn.
Ahmed Mansour, Cred’s CEO, confirmed “Ever New Cairo is distinguished by its promising location near various vital facilities. With respect to the project’s master plans and various designs, the vast space of Ever New Cairo has a building rate that does not exceed 14%; the rest of the space is for green and open areas. All the project’s units have a direct view of greenery enabling their residents to indulge in spectacular views. Cred collaborated with a group of grand local and global engineering consulting offices to put the master plans and designs of the project into effect. The designs will be represented by Ismail Habruk Engineering Consulting Office and DIE STADT.
