Asaldi Real Estate Company plans to invest 10 billion EGP over the next 5 years in the Egyptian market, capitalizing on the cumulative experience of its founders. The company also plans to focus on multi-use commercial-administrative projects, considering them the future of the real estate market.
Karim Berm, CEO of Asaldi, stated that the company’s vision is to achieve quality and create innovative concepts using the latest technologies and applying the best environmental practices. Asaldi’s ambitious real estate strategy revolves around developing multi-use projects with unique and sustainable designs, adhering to setting new standards for developing environmentally friendly communities. This is to provide an exceptional experience that combines comfort and luxury, in addition to playing a pivotal role in promoting environmental sustainability.
Asaldi’s first project in the Egyptian market is Shades, located in East Cairo. The project reflects the company’s vision of implementing multi-use projects with a new thinking and innovative vision, believing that multi-use commercial-administrative projects are the future of the real estate market.
Shades is a commercial-administrative project in East Cairo, with a total construction area of 48,000 square meters, including 18,000 square meters of shops dedicated for rent to major brands. The project consists of four floors that include offices, clinics, restaurants, shops, and entertainment areas, in addition to a dedicated parking lot that can accommodate more than 400 cars.
The project enjoys a strategic location in the heart of New Cairo, in addition to its proximity to the 90th Street, the New Administrative Capital, Mostakbal City, and the ease of access to it from Heliopolis and Nasr City. It is also close to a number of roads and main axes in Cairo. The project is scheduled for completion by the end of 2025.
Asaldi plans to expand in the Egyptian market by studying the possibility of adding new projects in other areas, such as West Cairo and the North Coast. The company is also considering expanding into foreign markets, such as Saudi Arabia, given the accumulated experience of Egyptian companies and the opportunities available in the Saudi market.
The main challenge facing real estate companies is the rising cost of building materials. However, real estate demand in Egypt remains strong despite these challenges, driven by population growth. The company also praised the government’s efforts to export real estate.
Asaldi believes that the real estate sector represents a safe haven for investment, as the return on investment in this sector is much higher than gold and bank certificates in Egypt. Despite the economic crises, real estate prices have never declined at any time, especially with the support provided by the government to the private sector to encourage it to increase investment.
The company also sees the Ras El Hekma deal on the North Coast as a model for positive investment partnerships between the government and the private sector. The Ras El Hekma City project will play a very important role in the development of the northwestern North Coast region and will have the same or even greater impact than the New Alamein City project. This means that it will open the door wide for major investment partnerships in this region in the future.
