Egypt’s Ava Mina, El Shams Housing to partner for new residential project in New Administrative Capital
Oro New Capital is scheduled to be launched in March 2022
Egyptian real estate companies Ava Mina Group and El Shams Housing Company and Urbanisation (ELSH) are partnering to launch a residential project in the New Administrative Capital.
Shadi Al-Zayat, Head of Commercial, Ava Mina Group, told Zawya Projects that Oro New Capital would be launched in the second week of March 2022.
He said the 38-acre development comprises 26 buildings housing 1,580 residential units and will include a 2,200 square -metre shopping mall.
He didn’t share details about project costs and timelines but said the partnership is targeting sales worth 4.5 billion Egyptian pounds ($286 million) from the project.
ACE – Moharram Bakhoum has designed the project, he disclosed.
As one of the top manufacturers of marble and granite in the Middle East, Ava Mina Group has supplied to the most significant real estate projects in the region, including Burj Khalifa, and Dubai Festival City in the UAE; Kempinski Hotel – Doha in Qatar; Sabah Al-Salem University in Kuwait and King Abdullah University and Princess Nora University in Saudi Arabia.
