As part of its ambitious plans to provide its customers in Egypt with integrated residential and commercial projects, Sky AD. Developments, the subsidiary of Diamond Group, one of the leading real estate developers in the UAE, has announced the launch of “Capital Avenue” in the New Administrative Capital as its second project in the Egyptian market. The new launch stems from the company’s belief in the strong capabilities of the Egyptian real estate sector and its attractiveness to foreign investors.
Spanning an area exceeding 21,000 m2, “Capital Avenue” is located in a prime location in the R8 area, where it will embody the essence of premium living in one of the quietest and most competitive locations in the New Administrative Capital, overlooking the diplomatic area from the east, and the Green River from the south near the city center.
The state-of-the-art design of the project provides mixed-use buildings suitable for F&B, clinics, retail, and administrative offices to meet the clients’ needs. In addition, the project has water features, a central promenade, an outdoor café area, to provide an exceptional shopping and entertainment experience to the New Capital residents and visitors.
Eng. Abdelrahman Agami, CEO of Diamond Group and Sky AD. Developments explained that the company aims to offer an unparalleled real estate product with unique selling points. “Sky AD. has made tremendous efforts to launch Capital Avenue by the beginning of 2022 to assert our commitment to the previously announced plan. In addition, the success of our first project, Residence Eight, coupled with the support we received from the Egyptian government contributed to accelerating the execution pace of our plans to increase our investment in the local market that is witnessing remarkable development with a positive outlook for growth from global institutions.”
Mostafa Salah, CCO of Sky AD. Developments, commented on the new launch saying “Aiming to maintain SKY AD. positioning as the fastest company to launch and execute projects in the New Administrative Capital, Sky AD. Developments plans to deliver the first units of Capital Avenue during the third quarter of 2025. The fast-paced plans leverage on the great expertise Diamond Group has as the leading Emirati real estate developer with a wide portfolio of projects and activities amounting to more than 17 projects in the UAE and an investment size of USD one billion”.
Capital Avenue is considered the first commercial project for Sky AD. Developments in 2022 and the second project for the company in Egypt in The New Administrative Capital particularly. This comes as a continuation to the huge success of its first project, Residence Eight, which achieved contractual sales that exceeded EGP 1.7 Billion in less than a year of its launching.
