Emerald Developments has unveiled its newest venture in the New Administrative Capital (NAC), Stone Capital, a multifaceted mall incorporating commercial, administrative, and medical components, backed by a substantial investment of EGP 3 bn, Invest-Gate reports.

The company officially introduced the Stone Capital project during a press conference held in Fifth Settlement on Monday, attended by partners, alongside a curated group of media professionals and journalists.

Ahmed Samir, Chairman of Emerald Developments, affirmed the launch of the Stone Capital project on a 6,600 sqm parcel within the NAC, with investments totaling EGP 3 bn, illustrating a bold move as part of the company’s expansive strategy within the Egyptian real estate sector.

Mohamed Kamal, a board member of Emerald Developments, highlighted that the entity emerged from a robust strategic alliance between Al Orouba Egypt for Real Estate Investment, an established player in the real estate arena since 2006, and Kayan Construction, the operational arm driving Emerald’s forthcoming projects.

Ahmed Fares, Chief Commercial Officer of Emerald Developments, emphasized the strategic positioning of the Stone Capital project in the coveted MU23 area of the NAC, situated directly on Al-Amal Axis, a key thoroughfare connecting to the capital from the Suez Road, nestled between the bustling residential neighborhoods of R2 and R3.

Moreover, Fares outlined the company’s commitment to accommodating diverse customer preferences by offering flexible installment plans tailored to varying needs, with payment durations extending up to nine years.

Emerald Developments has been diligent in forging partnerships with leading consultants in Egypt and the Arab region. This includes MTA under the guidance of Mohamed Talaat, a prominent figure renowned for his expertise and influence in the real estate domain, and MRB, overseen by Mohamed Rashid, a prominent entity specializing in the administration and operation of commercial and administrative projects.