City Edge Developments, a leading real estate company in Egypt, has announced the launch of its latest project, New Garden City, in the New Administrative Capital (NAC) in the R5 area, Invest-Gate reports.

This project is part of the company’s ongoing expansion efforts and its commitment to capitalize on investment opportunities available in major national projects.

Moreover, New Garden City introduces a modern concept of residential and commercial units with multiple uses, featuring various models to meet the needs of Egyptian consumers across all income brackets.

Furthermore, this announcement comes on the heels of City Edge Developments’ success in its projects in the R3 area, where it sold over 7,800 residential units, more than 265 commercial units, approximately 230 clinics, and 250 administrative units.

The unveiling of this new project by City Edge Developments aligns with the Egyptian government’s urban development initiatives, particularly the establishment of new cities such as the New Administrative Capital, a flagship example of fourth-generation cities.

Additionally, it reflects City Edge’s desire to expand its investments, considering that the new project spans nine phases to be marketed and sold over the next three to four years.

For his part, Mohamed Eldahan, the Chief Executive Officer of City Edge Developments, stated that the project launch is part of the company’s ongoing commitment to support the vision and goals of the Egyptian government regarding urban development and increasing inhabitable areas in line with its strategic vision.

“City Edge Developments aims to leverage its success across all major national projects, particularly in the New Administrative Capital, which presents significant investment opportunities,” Eldahan added.

Eldahan highlighted that the new project reflects City Edge’s sales achievements in 2023, amounting to approximately EGP38 bn.

Notably, with 70% of the project completed in an area of 885 feddans, the delivery is scheduled for November 2024.