Sky AD. Developments is planning a significant expansion across Egypt, with the company actively pursuing new land acquisitions in both coastal areas and emerging urban centers.
Abdel Rahman Agami, CEO of Sky AD. Developments, told Daily News Egypt that the firm is seeking plots ranging between 500 and 600 feddans in key strategic locations, including Egypt’s growing coastal cities. “We are open to developing multiple projects in the same area,” Agami said, highlighting the company’s confidence in the region’s investment potential.
Agami confirmed that Sky AD. is awaiting land pricing details from Modon Ras El Hekma, the UAE-based developer overseeing allocations in the high-demand North Coast area. “Once land allocations are made available, we will move swiftly to secure suitable plots for our upcoming projects,” he added.
Last month, the company launched “Sky North,” a major mixed-use development in Ras El-Hekma spanning 430 feddans. The project is expected to attract investments of around EGP 80bn and generate EGP 240bn in sales over the next five years.
Set for completion within four years, Sky North will feature residential and commercial zones, a five-star hotel, and a 50-feddan crystal lagoon. Agami revealed that the company is currently in discussions with four leading international hotel operators to manage the hospitality component, with a final decision anticipated by year’s end. The investment value of the hotel will be determined following the selection of the operating partner.
In addition to its coastal ambitions, Sky AD. is targeting inland growth, particularly in Sheikh Zayed and the New Administrative Capital (NAC). The company is in the market for up to 100 feddans in Sheikh Zayed and 50 feddans in the NAC, pending upcoming land offerings by the Capital Company.
Sky AD. entered the Egyptian market in 2021 and currently holds four projects in the NAC and New Cairo, with total investments approaching EGP 19bn. Looking ahead, Agami said the company is targeting EGP 10bn in sales from its Egypt portfolio in 2025, expecting record figures following the Ras El-Hekma launch.
