Ajna Developments has announced the signing of a contract with United Egyptian Company for Integrated Works and Supplies to execute the first phase of its integrated residential project, Eastville, in Fifth Settlement, New Cairo, Invest-Gate reports.
Valued at around EGP 10bn, the project reflects the company’s strategy to accelerate execution while adhering to scheduled delivery timelines.
The agreement aligns with Ajna Developments’ 2026 plan to intensify construction activities across its projects and collaborate with major specialized execution firms, ensuring delivery of high-quality developments and achieving advanced completion rates that meet customer expectations.
Commencement of Phase One Construction at Eastville
Eng. Osama Shalaby, Chairman of Ajna Developments, stated that the first phase of the Eastville project comprises around 70 villas, with the United Egyptian Company responsible for executing the construction works for this phase.
He added that the construction is scheduled to be completed within two years, noted that the company is committed to partnering with reputable contractors with strong experience in the Egyptian market, as part of its strategy to deliver projects that add real value to the real estate sector.
He further pointed out that Eastville is Ajna’s latest development, reflecting its focus on selecting prime locations for its projects. The development is located in one of the most prestigious areas of Fifth Settlement, the Golden Square, and extends over 120,000 sqm. It includes villas, serviced apartments, commercial and administrative units, along with fully integrated services.
He noted that the company has engaged a select group of consultants and experts in architectural design and urban planning to develop a project that blends modern architecture, nature, and sustainability, with a strong focus on ensuring the highest levels of privacy and quality of life for residents.
For his part, Eng. Mohamed Wael, Chairman of United Egyptian Company, welcomed the partnership with Ajna Developments, highlighting the company’s strong reputation in the Egyptian real estate market and its commitment to delivering developments that meet the highest standards of quality and excellence.
Wael noted that Eastville’s strategic location in New Cairo, combined with its contemporary architectural design, positions the project as a distinctive real estate offering capable of meeting the aspirations of a broad customer base while strengthening its competitive edge in the market.
Frontline Strengthens Commercial Performance and Strategic Partnerships
For his part, Eng. Amr El-Assal, Vice President & Co-Founder of Frontline Consulting, Ajna Developments’ commercial and advisory partner, said that Eastville has recorded strong sales momentum since its launch, despite the limited number of units released during the first phase. He attributed this performance to the project’s unique value proposition, strategic location, and the flexible sales and marketing solutions offered to customers.
El-Assal explained that Frontline is responsible for providing commercial and marketing consultancy services to Ajna Developments, supporting its sales strategy and strengthening the commercial performance of its projects.
He further noted that the company played a pivotal role in facilitating and finalizing the agreement between Ajna Developments and United Egyptian Company for Integrated Works and Supplies, reflecting its commitment to building strategic partnerships that support the successful execution of the project and the achievement of its development goals.
About Ajna Developments
Founded in 2019, Ajna Developments is a leading Egyptian real estate developer backed by a group of shareholders with more than two decades of experience in the sector. The company is focused on redefining integrated living through the delivery of innovative, high-quality developments that combine modern design, functionality, and long-term value.
Ajna’s portfolio includes a range of residential, commercial, and mixed-use developments, most notably Carnelia in Ain Sokhna, Eastville, and Kasakuon in New Cairo. Through these projects, the company seeks to offer contemporary real estate products that blend luxury, comfort, and integrated lifestyles while meeting the evolving needs of the market.
The company benefits from a strong ecosystem of affiliated businesses and extensive industry expertise, with a cumulative track record exceeding 14 developments, spanning more than 650,000 sqm of built-up area and representing investments of over EGP 55bn.
This track record is supported by a network of established entities, including Mountain Hills, Korba Group, Al Motaweron Real Estate, Catalyst, as well as specialized project management and engineering consultancy firms. Together, these organizations have delivered a diverse portfolio of residential, commercial, administrative, and healthcare projects, many of which have been successfully completed, handed over, and operated in strategic locations across New Cairo, Fifth Settlement, and other prime destinations throughout Egypt.