Home Group Developments has announced the launch of a major new project, a commercial, administrative, and medical development in New Cairo, Egypt, in partnership with Saudi Arabia’s Aseel Group, invest-Gate reports.

The project, which boasts investments exceeding EGP 1 bn, marks a significant collaboration between the two companies.

For his part, Anton Gamal, Chairman of Home Group Developments, confirmed the strategic partnership with Aseel, a subsidiary of Saudi Saleh Almudayfer Son’s Holding Company. The project will feature a ground floor, six additional floors, and two underground parking levels, ensuring ample space and functionality. The architectural design, crafted by Smarch Architecture, ensures a clear separation between commercial and administrative services, optimizing the experience for visitors and users.

Moreover, Gamal revealed that the mall is set to be delivered within three years, with flexible payment plans available for customers, extending up to six years. He emphasized that the project is designed to meet the growing demand for high-quality commercial and administrative spaces in New Cairo, a rapidly expanding area within Egypt’s capital.

Furthermore, Home Group Developments holds a land portfolio of 50,000 sqm, encompassing around 79 separate projects, 22 currently under development. The company has a comprehensive plan to develop these lands according to a set timeline.

Also, Abdullah bin Saleh Almudayfer, Chairperson of Aseel Group, expressed confidence in entering the Egyptian market, citing its strong competitive advantages and abundant investment opportunities.

Wael Elsamman, Founder of Smarch Architecture, highlighted the project’s distinctive architectural design, which focuses on aesthetics and ensures a comfortable and flexible environment for future tenants, catering to evolving client needs and market trends.