In a move that highlights the depth of Arab cooperation in real estate development, Al Rashed Developments announced the launch of its new project, “JINAN”, in New Sheikh Zayed City, in partnership with Sheikh Jaber bin Saeed Al-Harbi, owner and Chairman of Vencia Resorts & Hotels in Saudi Arabia. The project represents a new milestone in the concept of high-end residential communities, blending luxury, sustainability, and functional integration within a living environment that respects both people and nature, Invest-Gate reports.
Eng. Sami Wagdy, Chairman of Al Rashed Developments, stated that the launch of JINAN crowns the company’s journey, which began in Jeddah in 2014 before expanding into the Egyptian market in 2018. He said: “We at Al-Rashed are delighted whenever our efforts align with any Arab nation — especially Saudi Arabia, where our journey began. Today’s partnership with Mr. Jaber Al-Harbi represents a natural extension of the brotherly and successful relationship between the two peoples.”
Wagdy explained that the project spans 47,000 sqm in New Sheikh Zayed City and is the first villas-only compound of its kind in the area. It was carefully designed to offer Egyptian families a comprehensive and fulfilling living experience. He added: “The goal of JINAN is to deliver real value to Egyptian families. We made sure the project is environmentally friendly and achieves the highest safety standards. In collaboration with DOSOR For Engineering Designs, led by Eng. Shady Abd Hassan, we focused on making green spaces the soul of the project — not just visual elements — ensuring residents enjoy a healthy and comfortable lifestyle in a natural, secure environment.”
Wagdy noted that JINAN includes 10 luxurious palaces with unique sizes in the October–Zayed area and offers flexible payment plans. The project will also feature a five-star hotel, currently under negotiation with international brands, and a fully integrated Business Hub equipped with high-speed 5G internet, a world-class meeting hall, and electric vehicle charging stations.
He emphasized that Al Rashed’s 2030 Vision aims to expand into projects that deliver genuine value to the Egyptian community. He said: “We don’t see real estate development as selling units — it’s about creating a complete way of life. JINAN reflects a balance between architectural beauty, green spaces, and smart technology that serves families in their daily lives.”
Wagdy added that the project targets sales exceeding EGP 2bn throughout its phases. The inclusion of a luxury hotel and Business Hub reinforces the concept of an integrated city that combines entertainment and business services in one place. He concluded: “This Egyptian-Saudi partnership is a clear message that the Egyptian market needs strong economic alliances capable of building a competitive real estate future regionally and globally. JINAN is the first step on that path.”