With an investment of EGP 1.1 billion, a partnership has been formed between IMS Development, Winvestor Real Estate Development, and Nasr Housing and Development, a subsidiary of the Holding Company for Construction and Development under the Ministry of Public Enterprise. The partnership aims to develop the “Capella Residence” project in the Al-Ma’arag Al-Sufli area of Maadi, Invest Gate reports.

Dr. Hisham Ibrahim, Chairman of IMS Real Estate Development, stated that this collaboration aligns with their expansion strategy, which includes forming diverse partnerships to launch integrated residential projects in line with Egypt’s development plans. These plans aim to increase the habitable land area from 7% to 14%, as noted in the press release issued on January 8.

He explained that the partnership involves Nasr Housing and Development providing the land in exchange for a share of the revenue, while IMS Development and Winvestor will handle marketing, construction, sales, and project management upon completion.

The project, located in the Al-Ma’arag Al-Sufli area of Maadi, is minutes away from the Hassaballah Al-Kafrawi Axis, which links Maadi to New Cairo, Heliopolis, and the Autostrad. Spanning 9,227 square meters, the project comprises 15 residential buildings with 280 units, including a parking garage, a ground floor, and four repeated floors. Unit sizes range from 85 to 187 square meters. Construction permits have been secured, and excavation work is set to begin in the second quarter of this year.

Mr. Engineer Mohamed Abdel Maqsoud, CEO and Managing Director of Al-Nasr Housing and Development Company, emphasized the government’s support for the real estate sector through infrastructure development and productive partnerships with the private sector. He highlighted the company’s commitment to optimizing and enhancing its assets for maximum returns.

Abdel Maqsoud noted that the public enterprise sector offers numerous investment opportunities in real estate projects and land assets, which are poised for greater collaboration with the private sector in 2025. The partnership with IMS Development and Winvestor is part of the government’s strategy to leverage private sector expertise, capital, and technology to maximize asset utilization, generate returns, and attract domestic and international investments.

Engineer Hisham Hilal, Chairman of Criteria Design Group, stated that the project was designed with global standards in mind, incorporating sustainability, green building principles, and both Egyptian and international codes.