Adds Developments has entered Egypt’s real estate development market with a land bank of more than 220 feddans across East and West Cairo, as the company prepares to launch its first project in East Cairo.
The company said its entry into the Egyptian market builds on its founders’ experience in real estate-related activities in Egypt since 2015, including contracting, asset management, operations, and facility management, as well as more than 20 years of operations in the UAE since 2003.
The company plans to develop projects at relatively close intervals based on its existing land bank, with East Cairo serving as the starting point for its expansion strategy in Egypt.
Abdullah Sohail, Chairperson of Adds Developments, said the company’s experience across different stages of the real estate development cycle would enable it to manage activities ranging from assessing investment opportunities and development to construction, facility management, and operations.
He added that the company will work with consultants and specialised partners during project development, with a focus on project timelines, engineering specifications, and operational requirements.
Sohail said the company considers the post-handover operation and management of projects an important factor in their long-term performance. Adds Developments also plans to retain ownership of some units within its projects, according to the Chairperson.
The company views Egypt as a market supported by population growth, urban expansion, and the ongoing development of new cities and communities, Sohail said.
He added that government-led urban development is creating opportunities for real estate companies to address changing housing and investment demand, while the company supports the objectives of Egypt’s Vision 2030 related to integrated and sustainable urban development.
Adds Developments is preparing to launch its first project in East Cairo, which the company described as the first stage of a wider development plan in the area.
The project will include contemporary architectural designs and flexible spaces targeting different customer and investor requirements, according to the company.
The development is expected to serve as the starting point for additional projects that Adds Developments plans to introduce in East Cairo and other parts of Cairo.
Sohail said the company’s model combines investment, development, construction, operations, and facility management, with the aim of maintaining oversight of projects beyond the handover stage.
The company has not yet disclosed details of the first project, including its development value, sales target, project area, or expected launch date.
