Siva Developments and Mada Development have announced the launch of AVIDA, a new hospitality-focused residential project in Sidi Abdel Rahman on Egypt’s North Coast.
The project introduces a serviced-units concept that combines residential ownership with hospitality management, reflecting growing interest in managed real estate products within coastal destinations.
Commenting on the launch, Ahmed Elhaddad, Chairperson of Siva Developments, said AVIDA reflects the two companies’ joint approach to developing projects that cater to evolving market demand.
Elhaddad noted that buyers are increasingly seeking projects that combine residential use with investment potential and professional management.
He added that the North Coast continues to attract interest from both local and international investors as tourism and hospitality activity expands in the region.
According to Elhaddad, the project is located in Sidi Abdel Rahman and benefits from access to an approximately 800-metre beachfront. AVIDA consists of an eight-storey building comprising 180 units, with unit sizes starting from 45 sqm.
For his part, Shaker El Naggar, Chairperson of Mada Development, said the selection of Sidi Abdel Rahman was based on market studies and the area’s development prospects.
“AVIDA represents the first project of the alliance between the two companies,” El Naggar said, adding that the partnership is also evaluating future development opportunities on the North Coast, in New Cairo, and in the New Administrative Capital.
He noted that the North Coast has witnessed significant growth in recent years, with increasing tourism, residential, and investment activity contributing to demand across the region.
Meanwhile, Ahmed Shaker, Board Member of Mada Development, said the project reflects a partnership model that combines the expertise of both companies in development and project planning.
“The success of large-scale developments depends on collaboration and the integration of roles among partners,” Shaker said.
He added that Mada Development is continuing to study additional investment opportunities through partnerships in a number of locations.
Shaker also revealed that the project’s hospitality operations will be managed by a specialised hospitality operator from Kuwait, which will oversee property management and operational services.
On the design side, Bishoy Nagy, the project’s architectural consultant, said the development was designed to maximise the benefits of its waterfront location and sea views.
“We incorporated engineering solutions focused on operational efficiency and sustainability while ensuring that the majority of units enjoy direct sea views,” Nagy said, adding that the project includes energy-saving systems aligned with current trends in real estate and hospitality development.
For her part, Samah Malek, Sales Director at Siva Developments, said the project targets buyers interested in hospitality-oriented real estate products.
She added that AVIDA offers a range of unit sizes and payment plans starting with a 10% down payment and instalment periods of up to eight years.
Construction is currently underway, with the developers stating that delivery will be completed according to the project’s planned timeline.
