VIE Communities has officially entered the Egyptian market, marking a new Egypt-UAE collaboration in the real estate sector. The company operates as an Egyptian joint-stock firm specializing in investment, development, construction, and real estate.
Its founding shareholders include Glamour Jewellery Egypt, represented by Tarek Soliman; DAMAS Real Estate UAE, represented by Tawhid Abdullah; and Haitham Samir.
Haitham Samir, CEO and Managing Director of VIE Communities, stated that the company is rolling out an ambitious investment program spanning multiple projects. The strategy focuses on aligning developments with market demand while incorporating evolving trends in real estate design and urban planning.
Launched with an initial capital of EGP 1bn, VIE Communities is preparing to kick off its first project in Egypt: the development of the services zone at Zomra East. This project is being executed in partnership with Nations of Sky, the master developer of the residential compound.
Tamer Nabil, Vice Chairperson of Nations of Sky Egypt, highlighted that the partnership leverages the combined strengths of both companies in development and execution. Under the agreement, VIE Communities will take the lead in developing the project’s services zone.
Spanning 65 feddans, the services zone will feature a diverse mix of commercial, administrative, hospitality, and entertainment offerings. Plans also include a sports club and a landmark tower expected to reach 90 metres in height. The project will be delivered in four phases, with the first phase scheduled for completion within two years.
The development will further include hotels, serviced apartments, a medical district, and a fully integrated sports club, alongside flexible commercial and administrative spaces designed to accommodate a wide range of business activities.
Zomra East is strategically located in New Cairo’s Fifth Settlement, within the Golden Square area near North 90 Street, one of the capital’s most prominent urban hubs.
Samir revealed that the services zone is targeting total sales of approximately EGP 91bn. The sports club is expected to open within two years, while the commercial and administrative components are slated for completion within four years. The tower is projected to be delivered within five years.
To support execution, VIE Communities is collaborating with several leading design and consultancy firms, including SA Architects, Paradigm, PwC, and Andersen.
The company also confirmed that it is currently evaluating additional opportunities in the Egyptian market as part of its broader expansion strategy.
