SKY AD. Developments launches Capital Avenue’s One Residence project at Cityscape Egypt 2023 

Daily News Egypt
5 Min Read

SKY AD. Developments, the Emirati Diamond Group’s real estate arm in Egypt, is ready to dazzle the visitors of the 12th Cityscape Exhibition, the largest and most important real estate event in Egypt and Africa. The exhibition will take place from 20 to 23 September at the Egypt International Exhibition Center.

The company aims to offer products that meet the needs of customers inside and outside the country and to achieve huge sales through exclusive surprises and offers.

One of the highlights of the company’s participation in Cityscape is the launch of One Residence, the latest phase of the Capital Avenue project in New Administrative Capital (NAC). One Residence features 50 residential units with areas ranging from 70 to 130 sqm, fully finished with high quality by Eklego Design, one of the top design companies in Egypt.

One Residence boasts a prime location in the heart of NAC, close to all major services and overlooking wide green spaces. It also offers a variety of spaces to suit different customer segments, luxury interior finishes, concierge services, and an attractive payment plan with a 10% down payment and a 7-year installment period. The units are expected to be delivered in 2027.

Capital Avenue, another project by SKY AD. Developments in NAC’s R8 district, covers more than 21,000 sqm and include mixed-use spaces for commercial, administrative, and medical properties. The project also features water bodies and a central walkway. Capital Avenue won the African Property Award for the year 2022 as one of the best commercial projects in the region. The project offers a payment plan with an 11% down payment and an 8-year instalment period. The first units will be delivered in the third quarter of 2025.

SKY AD. Developments will also showcase Bluetree, its flagship residential project in New Cairo’s Golden Square area. Bluetree spans over 50 feddan with only 19% built-up area and comprises 1,300 units of residential, commercial, and administrative properties. Bluetree won the African Property Award for the year 2023 as the best residential project in the category of “Residential Projects More than Twenty Units”. Bluetree achieved sales exceeding EGP 2bn within six months of its launch and became one of the most sought-after projects in the market. Bluetree offers a payment plan with a 5% down payment and 8 years instalment period. The initial delivery will begin in 2027.

Abdel Rahman Agami, the CEO of Diamond Group and SKY AD. Developments, said that the company is committed to its vision of bringing its unique urban experience in the UAE to the Egyptian real estate market in a short time. He said that the company has invested more than EGP 12bn in three major projects in New Capital and New Cairo in the past 25 months.

He added that the company is exploring new investment opportunities that match the customers’ expectations of residential projects with integrated services and advanced technology, as well as the state’s goals of increasing real estate investments.

Mostafa Salah, the CCO of SKY AD. Developments, said that the company’s sales volume in the first half of 2023 reflects its success in launching distinctive urban projects that have no parallel in the Egyptian market.

Salah added: “Despite achieving a large percentage of our sales targets for this year, we have decided to offer new deals for the visitors of the Cityscape exhibition. We offer units in the Bluetree project with a 5% down payment and an 8-year instalment period, and units in the One Residence project with a 10% down payment and a 7-year instalment period. Both projects offer fully finished units with high quality.”

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