ASALDI Properties Makes Debut in Egyptian Market Unveiling its Inaugural Flagship Project Shades with Investments of LE2.5 Bn
ASALDI Properties announced the commencement of its operations in the Egyptian market through its flagship project Shades with investments totaling LE 2.5 billion. The project’s launch denotes a significant and swift step following the company’s announcement of its inception at the end of last year, 2023. ASALDI Properties plans to invest a total of LE10 billion over the next five years.
With the goal of pioneering a fresh concept in commercial and administrative buildings within the real estate market, ASALDI Properties is determined to construct a strategically located commercial administrative building in New Cairo. The aim is for Shades to herald the emergence of a new identity in East Cairo, with meticulously planned expansions soon extending to West Cairo. This ambition aligns with the company’s strategy to seize investment opportunities nationwide, bolstered by the Egyptian government’s efforts to enhance infrastructure and foster comprehensive development, including roads and bridges, thereby fostering the inception of new projects.
“The Egyptian market is promising and filled with opportunities that can be leveraged at present. The strength of the real estate sector stands out as a key driver behind our decision to establish the new company and introduce it to the market with a fresh perspective that resonates with the ongoing evolution of real estate offerings.” Remarked, Hany Al Assal, Founder of ASALDI Properties.
For his part, Mohamed Hany Al Assal, CO-Founder & owner of ASALDI Properties, said, “The Egyptian real estate sector serves as a substantial market characterized by authentic and robust demand. As such, we are enthusiastic about introducing innovative concepts to the Egyptian market and executing projects in accordance with global standards. Our approach relies on the extensive experience of our company’s workforce.”
He added, “Drawing upon our profound comprehension of this market, we resolved to initiate the development of this project and ensure its delivery in alignment with global standards tailored to meet the requirements of customers in this locale. Embedded within the project are innovative and varied services, underpinned by a total investment of LE 2.5 billion. This endeavor signifies the inaugural venture in a series of diverse projects slated for execution in the near future, aimed at expanding our footprint across different regions with a multifaceted portfolio encompassing residential and commercial ventures.”
Shades is the first commercial-administrative project for the company in East Cairo, with a built-up area of 48,000 square meters and a total leasable area exceeding 18,000 square meters. The project incubates four floors including offices, clinics, restaurants, shops, and recreational areas, in addition to a floor dedicated to parking accommodating more than 400 cars. The project is situated in a strategic location in the heart of New Cairo, in addition to its proximity to the 90th Street, the New Administrative Capital, and Mostakbal City, with easy access from New Cairo and El Shorouk, and its proximity to several main roads and axes in Cairo.
Furthermore, Karim Bairam, CEO of ASALDI Properties, said, “When we Launched ASALDI Properties, our aim was to present ourselves to the market with a commercial-administrative project, believing that the future of the real estate market lies in mixed-use projects. We relied on the idea of optimal space utilization to cater to the diverse needs of customers and fit their daily usage. At ASALDI Properties, we embrace a different vision that we have embodied in Shades, and in this project, we commit to applying state-of-the-art technological solutions in collaboration with leading companies in the field to ensure carbon emissions reduction through smart and sustainable concepts to preserve the environment in all stages of the project. Therefore, we are delighted to choose this project to mark our debut in the Egyptian market and look forward to expanding our portfolio this year to include residential and commercial projects that adopt a sustainable vision to meet future needs.”
The project features advanced technology aimed at reducing carbon emissions and preserving the environment. Through Shades, ASALDI Properties has collaborated with a large group of companies operating in this field, such as Schneider Electric. The project encompasses an extensive array of services and boasts a distinctive design, incorporating facilities tailored to enhance mobility for individuals with disabilities, surveillance cameras, access control systems, advanced safety systems, emergency generators, and parking lots in addition to Triple Play services. The project also includes a variety of luxury restaurants and cafes, renewable energy sources, building management systems, fast-moving elevators, electric car charging solutions, and fire protection systems.
Completion of Shades is anticipated by the end of 2025, with the company having initiated operations and sales within the project since December 2023.