Egypt's Rock Developments launches $142mln Rock Green Project in New Heliopolis
The 17-feddan project will be developed in three phases, comprising 466 residential units ranging from 116–236 square metres and 40 standalone villas, CEO Emad Doss told Zawya Projects. The developer expects to generate EGP 1.5 billion ($30 million) in sales from Phase 1, which is set for delivery in 2029.
'Rock Green represents a significant step in our strategy to create integrated urban communities that prioritise green space and quality of life,' Doss said. Over 85 percent of the land is dedicated to landscaped areas, including a 20,000 sqm central park, walking trails, water features, and community amenities.
Board Member Parthena Doss, who leads the project's architectural design, said Rock Green integrates 'modern living with the serenity of nature,' and emphasised its car-free, privacy-focused layout with no commercial zones inside the compound.
Key amenities include gym, yoga. outdoor workspace areas, EV charging stations, bike parking, and jogging tracks, kid's area and dog parks.
Rock Developments currently manages a land portfolio exceeding 5 million square metres (sqm), with more than 20,000 units across 10 projects, and a total investment value of EGP 20 billion ($404 million). It is also the largest developer in Sheraton Heliopolis, with over 70 residential and commercial buildings.
As part of its expansion, the developer plans to launch five new projects in East and West Cairo and the New Administrative Capital in the second half of 2025, targeting EGP 5 billion in contracted sales ($101 million).
(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
(1 US Dollar = 49.46 Egyptian pounds)
Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Business
32 minutes ago
- Gulf Business
Off-plan sales surge in Dubai's Business Bay: What's driving the boom?
Image credit: Supplied Business Bay recorded over Dhs4.5bn in off-plan real estate sales in Q2 2025, across more than 1,900 transactions—solidifying its position as one of Dubai's most dynamic residential and investment hubs. The figures underscore rising investor confidence in the district's central location, upscale living, and consistent returns. Read- This surge in off-plan activity comes amid broader momentum in Dubai's property market, which logged a record Dhs66.8bn in total sales in May 2025. That figure spans 18,700 transactions, reflecting a 44 per cent increase in value and a 6 per cent rise in volume compared to May 2024. Business Bay played a key role in this growth, contributing 5 per cent of the city's total sales value while accounting for just 3 per cent of transactions—highlighting the area's premium pricing and strong appeal. Strategic positioning and developer response Located between Downtown Dubai and the Dubai Canal, Business Bay remains a magnet for both local and international buyers. Its mix of world-class infrastructure, five-star hotels, and easy access to Sheikh Zayed Road, Dubai Metro, DIFC, and key leisure hubs positions it as a high-performance district in the city's real estate landscape. In response to continued demand, developers are accelerating delivery of design-led, lifestyle-focused projects, many of which include branded residences and luxury features aimed at the next generation of Dubai residents and global investors. The neighbourhood's consistent yields and reputation for capital appreciation continue to make it a top choice for those seeking long-term growth in the heart of the city. RTA Completes traffic improvements in Business Bay In another development, Dubai's Roads and Transport Authority (RTA) has completed three key traffic enhancements in the Business Bay area. The upgrades targeted several key locations along the corridor, which links directly to Sheikh Zayed Road and Al Khail Road, aiming to improve traffic flow and road safety. The improvements are designed to meet the needs of residents, visitors, and businesses in a district known for its mix of residential, commercial, and service facilities, The works are part of a broader initiative to modernize infrastructure and enhance the efficiency of Dubai's road network, in line with ongoing population growth and urban development. The completed upgrades are expected to ease congestion, raise safety standards, and reduce travel times in high-density areas. As part of the project, the street running parallel to Sheikh Zayed Road was converted from a two-lane, two-way configuration into a one-way dual carriageway, with new signage and road markings. This modification doubled the street's capacity and significantly improved traffic flow by reducing conflict points. In addition, a 100-metre-long storage lane was constructed at the intersection of Al Mustaqbal Street and Al Khaleej Al Tejari 1 Street. The added lane has increased right-turn capacity toward First Al Khail Street by 50 per cent, cutting down congestion and wait times while enhancing the intersection's efficiency.
Zawya
36 minutes ago
- Zawya
Ethiopia agrees debt restructuring memorandum with official creditors, state news agency says
Ethiopia has agreed a memorandum of understanding with its Official Creditor Committee on debt restructuring, the government's official news agency said on Wednesday. The memorandum formalises the debt restructuring agreed in principle in March this year and offers relief of over $3.5 billion, the Ethiopian News Agency said. (Reporting by George Obulutsa; Editing by Alexander Winning)
Zawya
an hour ago
- Zawya
BII signs over $300 million in agreements to accelerate green growth and Egypt's energy transition
The projects will advance Egypt's ambition to generate 42% of its electricity from renewables by 2030. The Gulf of Suez Wind Farm and the Obelisk solar and battery storage project developed by Scatec will add over 2 GW of clean energy capacity to the national grid and avoid approximately 3.9 million metric tonnes of CO₂ emissions. New projects demonstrate BII's leading role in Egypt's energy transition through patient capital, which supports grid resilience, green jobs and unlocks replicable climate innovation. CAIRO: British International Investment (BII), the UK's development finance institution and impact investor, has signed over $300 million in agreements to support two pioneering renewable energy projects in Egypt – a new 1.1 GW Gulf of Suez Wind Farm and a 1.1 GW integrated solar and battery storage project with Scatec. The agreements reflect BII's investment plan to accelerate Egypt's energy transition and build climate-resilient infrastructure that stimulates growth in North African countries. The Gulf of Suez Wind Farm, a $1.2 billion project and Africa's largest onshore wind development, is expected to generate 4,500 GWh annually, helping to avoid 2.5 million metric tonnes of CO₂ emissions per year. BII's $190 million investment forms part of a broader $704 million in debt financing with a consortium of development finance institutions (DFIs) including the European Bank for Reconstruction and Development (EBRD), the African Development Bank (AfDB), DEG – the German Development Finance Institution, the OPEC Fund for International Development, and the Arab Energy Fund. The project builds on Egypt's Nexus of Water, Food & Energy (NWFE) programme and will create over 10,000 power enabled jobs. BII has also signed an agreement to co-finance Egypt's first integrated solar photovoltaic (PV) and battery energy storage system (BESS), in partnership with Scatec, AfDB, and EBRD. The $479.1 million project – representing 80 per cent of the total capital cost – will deliver 1.1 GW of solar PV capacity and 200 MWh of battery storage. BII is providing a $100 million concessional loan and a $15 million grant to reduce the cost of the BESS component, making the project more viable, attracting private investment, and setting a model for future deals. With a portfolio size of over $708 million, Egypt is a critical partner for BII with the latest agreements reflecting an ongoing commitment to the region's climate agenda. The projects align with BII's North Africa climate strategy, which underscores the role of innovative and scalable renewable energy technologies that enhance climate resilience for future generations. In Morocco, BII backs green hydrogen projects, while in Tunisia, the DFI is identifying opportunities to scale climate-smart agriculture. These efforts collectively promote climate innovation, enabling the private sector's ability to produce, export and share clean energy. Iain Macaulay, Director and Head of Project Finance (Africa and Pakistan), BII, said: 'These landmark agreements in Egypt reflect the scale of BII's ambition to accelerate Africa's energy transition through transformative project finance. By backing pioneering renewable infrastructure at this magnitude, we're not only supporting climate resilience and energy security, but also demonstrating how concessional capital can unlock private investment and deliver impact at scale.' Sherine Shohdy, Head of Egypt Office and Coverage Director, BII, added: 'Our latest agreements reflect BII's long-term commitment to Egypt's clean energy transition and our confidence in the country's ability to lead on climate innovation in the region. Through our capital partnerships, we are proud to deliver new infrastructure that will provide affordable and reliable, low-carbon power and unlock thousands of green jobs. Our goal is to deliver impact at scale, supporting Egypt's renewable energy ambitions and the resilience of its wider economy.' About British International Investment British International Investment (BII) is the UK's development finance institution and a trusted investment partner to businesses in Africa, Asia, and the Caribbean. It invests to support the UK Government's Clean Green Initiative and to create productive, sustainable, and inclusive economies in eligible markets. Between 2022 and 2026, at least 30 per cent of BII's total new commitments by value will be in climate finance. The company has investments in over 1,470 businesses in emerging economies across 65 countries and total assets of £8.1 billion.
