ASALDI Properties has announced the successful completion of the first phase of sales of its inaugural commercial project, Shades, in New Cairo. The project has secured leases for 85% of its retail spaces and sold over 50% of its administrative offices in this initial phase.
Shades aims to provide a unique commercial experience in New Cairo, bringing together renowned local brands from across Egypt to cater to diverse tastes and preferences. The project also incorporates the latest technologies and facilities to create a conducive work environment for businesses.
Construction of Shades has already commenced, with completion anticipated by the second quarter of 2025.
“This is a crucial step towards providing a unique commercial experience in New Cairo,” said Kareem Beram, Executive Director of ASALDI Properties. “We are also excited to continue working on the remaining phases of the project and delivering the highest quality standards to our current and future clients.”
Mohamed Hany Al Assal, the founder of ASALDI Properties, highlighted the company’s efforts to address the gap in the real estate market, particularly in the commercial and administrative sectors, through the Shades project.
Located in the First Settlement of New Cairo, near Suez Road, Shades is strategically positioned at the intersection of major residential and commercial projects. The project will include office spaces, clinics, restaurants, cafes, retail outlets, recreational facilities, a fitness centre, and a supermarket.
Shades features modern architectural designs that prioritize accessibility for individuals with special needs. Additionally, the project has partnered with Schneider Electric to implement sustainable solutions aimed at reducing carbon footprint and environmental impact.
