ADVA Developments Chairperson Ahmed El-Shennawy said that the company has an ambitious plan to expand in the real estate market throughout the next five years, with investments amounting to more than EGP 2bn.
Al-Shennawy added that “Ad-Vida” will be the company’s first project in Sheikh Zayed City on an area of 5 feddan, and will comprise 30 villas.
He noted that the company has obtained all the ministerial approvals and the necessary licenses for the project.
Furthermore, he pointed out that the launch of the project will be announced next month, with targeted sales worth EGP 250m.
ADVA also aims to develop a commercial and administrative project in west Cairo and owns a land portfolio in Sixth of October, Sheikh Zayed, and New Cairo.
According to Al-Shennawy, the project will be delivered by the end of 2024.
ADVA is an Egyptian joint stock company that was established in 2019 with a capital of EGP 500m. It aims to expand the volume of its business and develop various real estate projects, including residential, commercial, and administrative areas in the west of Cairo, the North Coast, and Upper Egypt.