Arabia Developments announced the launch of its landmark project “KOR” in the New Capital, representing a major step in the company’s expansion strategy and its commitment to developing integrated, future-ready urban communities. Spanning more than 110,000 sqm in the Financial & Business District, the EGP 30bn project is the first compound in the city to bring together commercial, administrative, hotel, and residential towers within one cohesive and advanced ecosystem, Invest-Gate reports.
The launch ceremony was attended by a distinguished group of current and former government leaders, including Lieutenant General Eng. Kamel Al-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport; Eng. Sherif El-Sherbini, Minister of Housing and Urban Communities; Eng. Adel El-Naggar, Governor of Giza; Eng. Hazem El-Ashmouni, Governor of Sharkia; former Minister of Interior Mohamed Ibrahim; and former Minister of Petroleum & Mineral Resources Eng. Osama Kamal. Senior executives of Arabia Developments, led by Founder Eng. Tarek Shokry, attended the event alongside members of Parliament and prominent real estate experts.
The project aims to expand the company’s portfolio of integrated developments while aligning with national sustainability goals and advanced smart-city technologies.
Eng. Tarek Shokry, Founder of Arabia Developments, said: “KOR comes as part of the company’s expansion plan in the New Capital, benefiting from the district’s central location and strong investment appeal. And the project is being implemented under the partnership model adopted by the company across all its developments, ensuring clear role distribution among participating parties, whether in construction, management, or execution oversight, while applying the highest standards of quality and professionalism at every stage. We believe this project is not merely a real estate development, but a fully integrated platform that brings together innovation, technology, and sustainability, offering a living model of smart cities that supports sustainable urbanization and enhances the experience of living, working, and leisure in the New Capital.”
KOR comprises seven towers—two residential, one hotel, and four administrative—rising up to 21 floors with approximately 3,500 units. Its prime location places it less than 300 meters from the Central Bank of Egypt and major banks and close to the Cabinet headquarters and the Opera House, overlooking the Presidential Palace and adjacent to the Iconic Tower. The first phase, including administrative offices and residential units, is scheduled for delivery in 2029, with construction having begun six months ago.
The development embodies a “city within a city” concept, featuring central landscaped areas, water features, and open corridors up to 130 meters wide that connect all zones for seamless movement between living, working, and recreation.
KOR is designed to global sustainability standards, targeting carbon neutrality and reducing operational costs by more than 40% compared to conventional buildings. The project incorporates advanced infrastructure, modern construction technologies, EV charging stations, and electric bike-sharing hubs. Additional amenities include family and sports clubs, co-working hubs, and a curated retail and dining district, creating a fully integrated and vibrant community.