Latest news with #NewAdministrativeCapital
Zawya
4 days ago
- Business
- Zawya
Al Mirage, Hilton break ground on two hospitality projects in Cairo
Al Mirage Developments, a leading Egyptian real estate company, has join hands with global hospitality group Hilton for the groundbreaking of its two luxury hospitality projects - Hilton Tower project and Hilton Hotel - in the New Administrative Capital east of Cairo. Al Mirage Developments also announced the commencement of excavation and leveling work just two months after the official launch of the project to clients - a remarkably swift timeline. Strategically located, the Hilton Tower and Hilton Hotel project enjoys a prime location overlooking the Green River, situated on the capital's most prominent street - North Ben Zayed Axis - and is directly adjacent to both the Eastern Axis and the Green River. The Hilton Tower project and Hilton Hotel will boast 250 hotel rooms and 30 serviced apartments, along with sky villas. The administrative and hotel units range in spaces from 30 to 95 sqm, with the flexibility to combine multiple units as needed. The project embodies the company's vision of delivering real estate products that align with the state's ambition to build a world-class city in the New Administrative Capital. Additionally, the project seamlessly blends international quality with local standards, remarked Dr Mohamed Selim, the Chairman of Al Mirage Developments after signing the deal with Alessandro Redaelli, Vice President at Hilton Worldwide. A mixed-use development, it comprises commercial, administrative, and hospitality properties. It includes two floors of retail space, several floors of office units, and a hospitality section with two hotels managed by Hilton Worldwide: Hilton Tower and Hilton Downtown, said the top official. Partnering with a global brand like Hilton adds exceptional value to the Hilton Tower project and Hilton Hotel, enriching the real estate offerings in the New Administrative Capital, he stated. Al Mirage, he said, was keen to begin construction works at an early stage following the project's launch, reflecting its genuine commitment to its clients and underscoring the company's seriousness and reliability. "The project is only 5 minutes from the New Capital Airport, 3 minutes from the Ministries District and the Financial District, and near Egypt's Grand Mosque and the Gold Market," stated Dr Selim, who is also a Member of Parliament. He revealed that the company has successfully sold out the first two phases of the Hilton Tower project in record time, highlighting the appeal of the innovative and fully integrated development to its target customers. The project offers a range of competitive advantages, most notably its prime location at the heart of the New Administrative Capital's tourist tower district, in addition to its distinctive architectural design and high-end technical specifications. Dr Selim said the third phase of the project, which will include exclusive advantages for clients, will soon be launched. The entire project will be completed and handed over within the next three years.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
17-07-2025
- Business
- Zawya
Al Mirage Developments lays foundation stone for Hilton Tower, Hilton New Capital Hotel with Hilton Rep presence
In a new step reaffirming its commitment to delivering integrated and unique projects, Al Mirage Developments celebrated the groundbreaking of its Hilton Tower project and Hilton Hotel in New Administrative Capital. The company also announced the commencement of excavation and leveling work just two months after the official launch of the project to clients—a remarkably swift timeline. The event was attended by Dr. Mohamed Selim, Chairman of Selim Holding Group—the owner of Al Mirage—and Member of Parliament and Deputy of African Affairs, along with Mr. Alessandro Redaelli, Vice President at Hilton Worldwide, as well as several of the company's success partners, journalists, and media representatives. Dr. Mohamed Selim, Chairman of Al Mirage Developments and Member of Parliament, stated that the Hilton Tower and Hilton Hotel project embodies the company's vision of delivering real estate products that align with the state's ambition to build a world-class city in the New Administrative Capital. Additionally, the project seamlessly blends international quality with local standards. He said that partnering with a global brand like Hilton adds exceptional value to the Hilton Tower project and Hilton Hotel, enriching the real estate offerings in the New Administrative Capital. Selim noted that the company was keen to begin construction works at an early stage following the project's launch, reflecting Al Mirage's genuine commitment to its clients and underscoring the company's seriousness and reliability. He further explained that the Hilton Tower and Hilton Hotel project enjoys a prime location overlooking the Green River, situated on the capital's most prominent street—North Ben Zayed Axis—and directly adjacent to both the Eastern Axis and the Green River. The project is only 5 minutes from the New Capital Airport, 3 minutes from the Ministries District and the Financial District, and near Egypt's Grand Mosque and the Gold Market. The project is a mixed-use development comprising commercial, administrative, and hospitality properties. It includes two floors of retail space, several floors of office units, and a hospitality section with two hotels managed by Hilton Worldwide: Hilton Tower and Hilton Downtown, he disclosed. He further pointed out that the two hotels will feature hotel rooms, serviced residential apartments, sky villas, multipurpose meeting rooms, a fitness center, outdoor swimming pools, a spa, and premium office spaces uniquely located within the Hilton Hotels. The hospitality projects offering includes 250 hotel rooms and 30 serviced apartments, along with Sky Villas. The administrative and hotel units range in spaces from 30 to 95 sqm, with the flexibility to combine multiple units as needed. He also revealed that the company successfully sold out both the first and second phases of the Hilton Tower project in record time after their launch, highlighting the appeal of the innovative and fully integrated development to its target customers. The project offers a range of competitive advantages, most notably its prime location at the heart of the New Administrative Capital's tourist tower district, in addition to its distinctive architectural design and high-end technical specifications. He added, 'Partnering with the renowned Hilton Group to manage the hotel is one of the project's strongest draws for clients. This collaboration marks a major milestone in our company's journey and underscores our commitment to delivering integrated developments that align with international standards and meet the evolving needs of the market.' The project's strong sales performance in a short period stems from several key factors, most notably its smart, strategic location in the heart of the New Administrative Capital's tourism towers zone. The project also boasts outstanding architectural design and high-end technical specifications, according to the company's chairman. He added that the company offers attractive and flexible payment plans, and that Hilton Tower is one of the few projects where construction is progressing in parallel with the official sales launch—a clear reflection of the company's seriousness and commitment. Delivery is scheduled to begin within three years, starting from 2025. He concluded that the company will soon launch the third phase of the project, which will include exclusive advantages for clients.
Zawya
14-07-2025
- Business
- Zawya
Egypt: SIAC Developments begins handover of The Central in New Capital with over 70% delivered, 90% sold
Egypt - SIAC Developments has announced the start of unit handovers at its flagship administrative project, The Central, located in Egypt's New Administrative Capital (NAC). The company has already delivered more than 70% of the project's units and reported strong sales exceeding 90%, as The Central nears completion and welcomes a diverse range of businesses. Nahla El Ebiary, Managing Director of SIAC Developments, commented: 'At The Central, we are not merely delivering administrative offices; we are building a foundation for growth—an integrated environment that supports success and offers tangible long-term investment value. This has always been our top priority across all our projects. We are committed to ensuring that The Central stands as a benchmark for competitive Egyptian developments locally and internationally.' El Ebiary added that the project provides businesses with a prime location, designs by top experts, advanced facilities, and strict adherence to implementation schedules—highlighting the company's dedication to meeting delivery deadlines. The Central was specifically designed to create an optimal working environment that supports business growth and maximizes investment returns. The project is being constructed by SIAC Construction, a leading firm behind numerous landmark administrative, industrial, and residential projects in Egypt and the wider region. Targeting businesses of all sizes, The Central offers a range of administrative units suitable for startups, SMEs, and large enterprises. The project comprises a G+7 building with two basement parking levels, dedicated archive and storage areas, and five high-speed elevators. It also features an extensive array of services and amenities to support corporate employees and visitors alike. In line with global best practices, The Central applies the highest sustainability standards. Its smart building infrastructure is equipped to support modern technology systems—including security, access control, and energy management. The project also integrates solar energy solutions to reduce operational costs and environmental impact, while sustainable construction materials and design principles ensure long-term environmental responsibility. Adding further value, long-term facility management at The Central will be handled by SIAC FM—a sister company under SIAC Holding and a market leader in facilities and real estate asset management—guaranteeing ongoing maintenance and service quality for clients. © 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (
Entrepreneur
11-07-2025
- Business
- Entrepreneur
How Egypt's Capital is Becoming the Epicenter of Real Estate Transformation in the Region
You're reading Entrepreneur Middle East, an international franchise of Entrepreneur Media. Cairo has always been a city of contrasts—ancient yet dynamic, chaotic yet captivating. But as we step into 2025, the Egyptian capital is no longer just a cradle of history; it's fast becoming one of the Middle East and North Africa's most exciting real estate frontiers. Fuelled by record-breaking investments, ambitious national strategies, and a population craving modern urban living, Cairo's property market is in the midst of a sweeping transformation. From sprawling gated communities and luxury towers to mixed-use smart cities, the skyline of this ancient metropolis is evolving at an unprecedented pace. THE NEW CAPITAL AND THE RISE OF GREATER CAIRO At the heart of Cairo's development story is the New Administrative Capital (NAC)—the Egyptian government's flagship project located 45 kilometers east of the current city. Envisioned as a solution to Cairo's congestion and infrastructure challenges, the NAC is set to house ministries, embassies, financial districts, residential zones, and green spaces. Its goal? To redefine Egypt's urban future. Spanning over 700 square kilometers, the New Capital is expected to accommodate over 6 million people, featuring the Iconic Tower, now the tallest building in Africa, a presidential palace, and a central park twice the size of New York's Central Park. According to Egypt's Ministry of Housing, over 500,000 residential units are already under construction across the NAC's first phase. Demand for properties remains robust, especially among Egypt's growing middle and upper-middle classes, Gulf-based Egyptian expatriates, and regional investors. KEY DEVELOPMENTS TO WATCH The New Administrative Capital (NAC) Major developers including City Edge Developments, Talaat Moustafa Group (TMG), and Misr Italia Properties have launched signature projects in the capital, such as: > Al Maqsad by City Edge > Il Bosco by Misr Italia > Capital Gardens by Palm Hills Developments These projects feature smart infrastructure, solar energy systems, and lifestyle amenities such as sports clubs, education hubs, and green corridors. Residential unit prices here range from EGP 1.7 million to over EGP 12 million, depending on size, location, and finish level. Sheikh Zayed & West Cairo Expansion West Cairo remains a favorite for affluent families seeking privacy, security, and spacious living. Sheikh Zayed City, 6th of October City, and the SODIC-led ZED project have all seen a surge in demand in 2025. The ZED Towers, in partnership with Ora Developers, have become a benchmark in luxury high-rise living. Fully sold out Phase 1 units appreciated over 25% in value within two years of launch. Palm Hills' Badya, Egypt's first "smart city", is another game-changer. Spanning 3,000 acres, it's powered by AI-driven traffic systems, energy-efficient buildings, and a digital backbone designed for tech-savvy youth. East Cairo & New Cairo East Cairo continues to thrive thanks to its proximity to business hubs and international schools. New Cairo is experiencing renewed momentum with: > Mivida by Emaar Misr > Katameya Dunes > Fifth Square by Al Marasem Emaar's Cairo Gate, located on the Cairo–Alexandria Desert Road, is blending luxury villas, green parks, and premium retail experiences. In 2025, the average price of luxury apartments in New Cairo has crossed EGP 45,000 per square meter, while villa prices in compounds like Mivida and Palm Hills are approaching EGP 20 million and above. Mixed-Use Mega Projects One of the standout trends in Cairo's real estate is the surge in mixed-use, live-work-play developments. Developments like ONE NINETY by LMD, Uptown Cairo by Emaar, and Cairo Festival City by Al-Futtaim offer residential, commercial, hospitality, and retail spaces within integrated ecosystems. These developments are drawing in both corporate tenants and lifestyle-focused residents who prefer minimal commute and maximum convenience. MARKET PERFORMANCE AND INVESTMENT TRENDS According to data from Colliers International and local brokerage sources: > Cairo's residential real estate prices grew 12.4% year- on-year in 2024, outperforming regional markets like Casablanca and Amman. > Average rental yields in new compounds range from 6.5% to 8.2%, depending on the zone and asset type. > Sales activity has surged by over 30% since 2023, led by rising demand from young professionals, urban migrants, and returning expats. Several developers have begun offering long-term payment plans, stretching from 8 to 12 years, a move that has opened the market to new segments of first- time buyers. Several developers have begun offering long-term payment plans, stretching from 8 to 12 years, a move that has opened the market to new segments of first- time buyers. WHO'S BUYING? Local demand continues to dominate the market. Cairo's population now exceeds 22 million, and rising affluence among Egypt's young, upwardly mobile demographic is fueling real estate sales. But the city is also seeing increasing interest from: > Egyptian expatriates working in the Gulf, Europe, and the US, drawn by the Golden License investment perks and digital registration systems. > Gulf investors seeking medium-term rental income and portfolio diversification. > Institutional investors eyeing large-scale acquisitions of commercial, hospitality, and residential assets in the NAC. REGULATORY AND INFRASTRUCTURE SUPPORT Government reforms have played a crucial role in unlocking the market's potential: > Digital property registration and e-title deed issuance are increasing transparency. > Major infrastructure projects like the Cairo Monorail, Metro Line 4, and ring road expansions are boosting accessibility. > The Golden License initiative is attracting real estate FDI by offering streamlined procedures and land allocation. CHALLENGES AHEAD Despite the momentum, challenges remain: > Inflation and fluctuating currency rates have impacted construction costs. > Developers face pressure to differentiate in a crowded premium market. > Affordable housing demand still far outweighs supply in central zones. However, the government's public-private partnership (PPP) push and the upcoming Central Bank Mortgage Finance program are expected to balance supply-side gaps by 2026. WHAT'S NEXT? With the New Capital moving into its second phase and landmark launches like the Iconic Tower completion, Cairo is set to enter a new era of urban planning and luxury living. Projects like Azailya by New Plan Developments, Entrada by Sorouh Developments, and Compound Vinci are poised to deliver thousands of units between 2025 and 2027. Simultaneously, the rise of co-living, branded residences, and digital nomad- targeted developments shows Cairo's adaptability to global trends. Cairo is rewriting its real estate narrative. 2025 marks not just a boom year, but a maturing phase for a market that once relied on volume but now focuses on value. For investors, the message is clear: the Egyptian capital offers strong fundamentals, future-proof planning, and a market that's increasingly transparent and globally relevant. Whether you're chasing ROI or a front-row seat to one of the region's most exciting urban transformations, Cairo is more than ready — and rising fast.
Zawya
10-07-2025
- Business
- Zawya
Egypt: Cabinet assigns TSFE to study use of 15 vacant buildings
Arab Finance: The Egyptian cabinet has mandated the Sovereign Fund of Egypt (TSFE) to study the transfer of ownership of 15 unoccupied buildings, with the goal of preparing them for utilization and future investment offerings, as per a statement. During the weekly meeting chaired by Prime Minister Mostafa Madbouly, the cabinet reviewed the ongoing relocation process of government headquarters following the transition to the New Administrative Capital. The TSFE was instructed to proceed with necessary actions concerning already transferred properties and to study the feasibility of acquiring additional vacant buildings. The cabinet also approved the continuation of work by the committee established under Prime Ministerial decree No. 2684 of 2023, which is tasked with relocating entities lacking available space in the New Administrative Capital. The relocation process will be based on comprehensive feasibility studies and actual needs, including the potential use of buildings vacated by previously relocated entities. Additionally, the cabinet approved issuing a circular requiring all ministries, agencies, and departments to secure vacated premises that have yet to be relocated, pending final decisions on their use. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
