ASALDI Properties has officially entered the Egyptian market with its flagship project, “Shades,” representing a significant step following the company’s announcement of its launch at the end of 2023, Invest-Gate reports.

The project, backed by investments totalling EGP 2.5 bn, aims to revolutionize commercial and administrative buildings in the New Cairo area, with plans for expansion into West Cairo shortly.

Moreover, Hany El Assal, Founder of ASALDI Properties, highlighted the promising opportunities in the Egyptian real estate market, which prompted the establishment of the new company.

El Assal emphasized the company’s commitment to introducing innovative concepts and developing projects to global standards.

Meanwhile, Mohamed Hany El Assal, Founder & Partner in ASALDI Properties, said, “The Egyptian real estate sector is a substantial market characterized by authentic and robust demand. As such, we are enthusiastic about introducing innovative concepts to the Egyptian market and executing projects following global standards.

For his part, Karim Bairam, CEO of ASALDI Properties, explained that “Shades” was conceived to meet the growing demand for mixed-use developments. He emphasized the project’s focus on optimal space utilization to cater to diverse customer needs and daily usage.

Furthermore, Bairam noted that ASALDI Properties is dedicated to implementing cutting-edge technological solutions in collaboration with leading companies to minimize carbon emissions and ensure environmental sustainability throughout the project.

Also, the project is scheduled for completion by the end of 2025, with sales and construction activities underway since December 2023.

Notably, ASALDI Properties aims to expand its portfolio in the Egyptian market this year with sustainable residential and commercial projects to meet future needs.