Ava Mina Group, a real estate developer located in Egypt, has launched a new project called Oro Obour, which is situated on 28 acres in Obour City, east Cairo. The project comprises 200 villas and a strip mall, with an expected sales value of EGP 3bn. According to Ashraf Awad, the chairperson of Ava Mina Group, the company plans to begin the construction of Oro Obour early this year and complete it within three years.
Apart from Oro Obour, Ava Mina Group has also developed two other projects in the New Administrative Capital (NAC): Oro Compound and N Mall. Oro Compound has 1,600 residential units, a mall, and a mosque, with an estimated sales value of EGP 4.5bn. The construction of the Oro Compound project is already 40% complete and is expected to be delivered by the end of 2026.
N Mall, spanning an area of 2,400 sqm, has two floors, a basement, and a parking garage of 4,600 sqm. The ground, first, second, and third floors are designated for commercial use, while the fourth floor has medical clinics and laboratories. The fifth to eighth floors are reserved for administrative offices in various fields, and the roof is also a part of the project.
The group has initiated the foundation work of N Mall and has signed a cooperation agreement with Unitech Facilities Management to manage the project. Additionally, 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.
According to Awad, Egypt’s real estate market has witnessed 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.
