Ebny Developments signed a consultancy alliance on Sunday for a number of consulting companies in order to develop its project in New Sohag.
The company contracted with Yasser Al-Beltagy Architects (YBA) as an engineering consultant for the project, Enversion for real estate development consultancy, and White company for marketing and event management services with the aim to develop and oversee engineering, administrative, and operational works of the project.
Chairperson of Ebny Developments Abdullah Kamel said that the company has been working in the Egyptian market since 2012 and has decided to enter the real estate investment field in the most difficult times. He added that the company has developed about 17 housing projects in Nasr City and Heliopolis, then directed its investments to New Sohag to offer integrated residential urban project there.
Kamel added that the company’s first project in New Sohag is the Greeny Avenue project, which will be built on an area of 20 acres with investments amounting to EGP 1bn. It is a residential compound that will contain 31 residential buildings and 20 villas with a construction ratio not exceeding 20% in the style of integrated residential resorts.
Additionally, it is constructing the Westway project, which is a commercial and entertainment mall in New Sohag on an area of approximately 13,000 sqm.
The company also acquired a 36-feddan plot of land in New Sohag to develop the Azalea Resort.
As for the company’s expansion plans during the coming period, Ebny’s General Manager Ismail Omar stated that the company is currently studying some investment opportunities in different cities of Upper Egypt — such as New Minya and Assiut — due to the great demand that the company has experienced from clients and Egyptians working abroad to buy real estate units within integrated residential communities in Upper Egypt and the spread of the compound’s culture in these cities has become very attractive for offering such projects.