Times Developments has launched Avelin Boutique in New Cairo in partnership with Lemon Spaces, a company specialising in the management and development of hospitality spaces.
Under the partnership, Lemon Spaces will operate and manage 150 serviced apartments within the Avelin project, combining residential units with hospitality-managed accommodation and technology-enabled services.
The project has total investments exceeding EGP 3bn. Times Developments said it has completed around 30% of Avelin’s construction ahead of its market launch.
Avelin Boutique is located in the Fifth Settlement, adjacent to Al Rehab City, and is around two minutes from Al Rehab 1 and North 90th Street. The project also provides access to four major roads in the area.
The development spans 21 feddans and consists of two main components: Avelin Residence, which includes residential and serviced apartments, and Mall T Hub, a commercial and administrative component covering around 10,000 square metres.
Avelin Residence comprises one-, two-, and three-bedroom apartments, as well as duplexes and serviced apartments operated by Lemon Spaces.
Green areas and landscaping account for around 80% of the project’s total area. The development also includes underground parking for all buildings, while pedestrian areas are separated from vehicular traffic.
Times Developments has appointed ECG, DMC, and MTA, led by architect Mohamed Talaat, to handle the project’s masterplan, façades, and engineering consultancy.
Okoplan, led by Dr Tarek Sobhy, is responsible for site planning and landscaping, while architect Raef Fahmy designed the commercial area. Architect Hany Saad handled the clubhouse’s interior design.
The company also announced payment plans starting with a 5% down payment and instalments extending for up to 10 years.
Ahmed Elsergany, Chairperson and CEO of Times Developments, said the partnership with Lemon Spaces forms part of the company’s strategy to incorporate hospitality-managed units into its residential developments.
He added that the project is aligned with Egypt’s efforts to expand tourism capacity and support real estate exports, as the government targets 30 million tourists annually and 300,000 hotel rooms by 2030.
Elsergany said the company is also seeking to increase the use of real estate assets for hospitality purposes through professionally managed properties.
He added that serviced apartments have become a growing segment of the global hospitality market, with estimates placing the sector’s potential market size between $266bn and $434bn over the next decade.
