Times Developments has reported construction investments of about EGP 30bn over the past two years as the company prepares to expand its land portfolio and pursue new projects in the North Coast, Red Sea, and West Cairo.
Chairperson Ahmed El Sergany said Times Developments’ construction program has been funded primarily through self-financing. He added that this strategy has enabled the company to acquire land without relying on bank borrowing or high-cost financing, while maintaining construction activity amid rising costs.
Times Developments is currently evaluating land acquisition opportunities in West Cairo, the Red Sea, and the North Coast, according to El Sergany.
The company currently holds more than 55 feddans in East Cairo, comprising the 34-feddan Aster project and the 21-feddan Avelin development. El Sergany noted that the company is focusing on locations with strong demand and plans to expand beyond its current residential portfolio into mixed-use and hospitality developments.
The developer is also expanding its boutique compound model, which emphasizes lower-density development and larger landscaped areas. In some projects, built-up areas account for no more than 15% of the total land area, with the remainder allocated to green and open spaces. The projects also incorporate smart systems for lighting, irrigation, water consumption, and security management.
El Sergany further pointed out that Times Developments is targeting a broader mix of residential, commercial, administrative, and medical developments, alongside hospitality projects and serviced apartments through partnerships with international brands and operators. He identified the North Coast and the second-home segment as key areas for future expansion, citing growing demand for second homes as a major market driver.
The company’s Aster Residence project is located in New Cairo’s Golden Square and comprises around 1,200 residential units, in addition to approximately 16,000 sqm of commercial and administrative space. Times Developments expects to deliver the first phase of Aster by the end of 2026. The phase includes around 450 units, ranging from 55 to 300 sqm, including one-, two-, and three-bedroom apartments, duplexes, and penthouses.
Meanwhile, Avelin, located adjacent to Al Rehab City, comprises Avelin Residence and the Mall T Hub commercial development. El Sergany disclosed that construction on around 30% of the project had been completed before its official launch, while construction progress on the units released for sale has reached approximately 60%.
He explained that Times Developments typically completes a substantial portion of construction before launching projects—a strategy intended to reduce exposure to inflation and fluctuations in construction costs, while giving buyers access to units closer to delivery.
