Emerald Developments has announced the launch of its latest project in New Administrative Capital (NAC), Stone Capital, a mixed-use mall (commercial, administrative, and medical) with an investment of EGP 3bn.
The announcement was made during a press conference held by the company on Monday in Fifth Settlement, attended by partners, and a select group of media professionals and journalists. The event was hosted by media presenter Tarek Hamdi.
Eng. Ahmed Samir, Chairman of Emerald Developments, confirmed that the company is launching the Stone Capital project on a 6,600 sqm plot in the NAC, with investments reaching EGP 3bn. This comes as part of an ambitious plan to expand in the Egyptian real estate market.
Samir added that the New Capital is entering an advanced stage of development following the construction boom that has taken place in a short period and the government’s relocation to the NAC to carry out its functions.
For his part, Eng. Mohamed Kamal, a board member, disclosed that the real estate market is experiencing an unprecedented boom, driven by the state’s and political leadership’s directions to expand urban development plans.
Kamal noted that Emerald Developments is the result of a strong strategic alliance between Al Orouba Egypt for Real Estate Investment, which has been operating in the real estate market since 2006, and Kayan Construction, the executive arm of Emerald’s upcoming projects. Kayan has extensive experience in executing various projects according to international standards. He noted that the company has a distinguished and robust track record in the real estate market, having successfully delivered more than 100 projects in various locations.
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Ahmed Fares, Chief Commercial Officer of Emerald Developments, stated that the Stone Capital project is located in one of the most prime areas, in the MU 23 zone of the New Capital, directly on Al-Amal Axis, the main artery to the capital from the Suez Road, and is situated between R2 and R3, the most densely populated residential neighborhoods.
He also mentioned that the company offers flexible and diverse installment plans to meet all customer needs and preferences, with payment periods extending up to 9 years.
Emerald Developments has been keen on selecting success partners from among the top consultants in Egypt and the Arab region, including MTA led by Mohamed Talaat, known for his expertise and influence in the real estate market, and MRB, headed by Eng. Mohamed Rashid, one of the largest companies in the management and operation of administrative and commercial projects.
Eng. Mohamed Talaat, Chairman of MTA, praised the collaboration with Emerald Developments. He explained that the company is working on offering a distinguished and innovative real estate product that meets the highest global standards and specifications.
Eng. Mohamed Rashid, Chairman of MRB for project management and operation, noted that his company aims to make a significant contribution to the project. They begin their work from the first day of the project’s launch to achieve the highest return on investment for clients.
Rashid highlighted the importance of the role of management and operations consultants in creating fully serviced and operational projects. He noted that the role of management and operations consultants starts from the design concept, ensuring attention to the finest details, and continues through the construction process, final finishes, and until the project’s completion, handover, and operation.