Tesla Developments has sold out the first phase of its Tesla Residence project and is preparing to launch the second phase, which is expected to attract strong interest from both homebuyers and investors.
Alaa El-Sheikh, Chief Commercial Officer at Tesla Developments, said the rapid sell-out of the initial phase reflects market confidence in the company’s ability to deliver a well-planned development with a strategic location and diversified, mixed-use components.
He explained that the second phase will feature serviced residential units delivered fully finished and furnished to international standards. Early enquiries indicate steady demand, with the management company for the serviced units set to be announced in the coming period.
Tesla Residence is being developed on an area of 26 feddans in West Cairo, directly opposite MSA University on Al-Wahat Road. The mixed-use project will include residential, retail, hospitality, administrative, and medical components, alongside a 450-metre commercial promenade and several administrative and medical buildings.
The development is being rolled out across four sales phases, with full completion targeted within three years, as the company seeks to deliver a fully integrated real estate destination in West Cairo.
