Starlight Developments announces its commitment to invest around EGP 10 bn in the Egyptian real estate market over the next three years, Invest–Gate reports.
Starlight Developments CEO Sherif Aboutaleb states, “With a clear positive outlook on Egypt, we have a healthy appetite for investment,” adding, “Starlight Developments stands for refined and design-driven developments. In other words, an upscale residential concept, which is currently lacking, despite the abundance of projects being developed across Egypt.”
A total of EGP 10 bn has been allocated for the development of Starlight Developments’ three projects currently under construction; Katameya Creeks, a luxury residential development, URBN-K; the mixed-use commercial office and retail park in East Cairo, in addition to Katameya Coast; the signature waterfront resort on the North Coast.
Furthermore, Aboutaleb outlines three important aspects to consider before investing in real estate, whether residential or administrative. Firstly, the developer’s reputable brand and its projects portfolio. Secondly, the project’s strategic location ensures that it is easily connected to the heart of the Cairo capital. Finally, the project uniqueness and the value it represents, which in turn would guarantee the maximum return on investment over time.
“Property remains the safest and best investment in terms of return. We are conscious that value is only attained by delivering on the promise of exclusivity, rarity, and the distinctiveness of the product,” Aboutaleb explains. “This is why it is most important to know the history of the brand you’re investing in,” he continues.
Aboutaleb further points out, “We rely on more than 30 years of experience in the real estate sector. Through our projects, Katameya Heights and Katameya Dunes, we have succeeded in establishing the concept of upscale residential living in New Cairo and aim to preserve it with our future developments.”
It is worth mentioning that Starlight has built solid partnerships with some of the best international and local industry pioneers. It has collaborated with ERGA International and Rowad Modern Engineering for the design and construction of Katameya Creeks. Additionally, a partnership agreement has also been signed with SAOTA, the renowned South African architectural and design firm, as well as Cracknel Landscape for the signature waterfront resort Katameya Coast on the North Coast.