Valda Real Estate Development Company aims to invest EGP 700 million in construction works for the first fully integrated commercial complex located directly on the Middle Ring Road in Fifth Settlement.
Valda is implementing the project with a new, forward-looking concept that focuses on providing extensive open-air (outdoor) spaces for all retail units — in line with public health standards and the new social dynamics that emerged following the spread of COVID-19.
Eng. Mohamed Shehata, Chairman of Valda, stated that the company achieved outstanding results immediately after opening reservations, receiving numerous expressions of interest from investors. This came despite the market uncertainty during the pandemic, which reflects the strength and innovation of the project’s concept and Valda’s modern development vision.
He added that clients have praised Valda’s innovative product, which resulted from comprehensive studies aimed at introducing a new and valuable addition to the Egyptian real estate market, consistent with the experience and track record of Valda’s founders.
The project covers a total land area of 20,000 square meters, with a building ratio of 40%, and was designed by an internationally renowned architectural firm.
Shehata revealed that Valda plans to expand its presence in the Egyptian market, particularly in East Cairo and the New Administrative Capital, through the acquisition of land to develop integrated urban projects.
He further noted that the company is seeking to develop a fully integrated residential project, similar to its previous “Aqoya” project, while adding unique features that ensure innovation and contribute to the growth and appeal of the New Administrative Capital, addressing the needs of its target market segment.
Shehata emphasized that Valda conducts in-depth feasibility studies before embarking on new developments to ensure economic viability and added value. He also pointed out that the increasing competition in Egypt’s real estate sector requires companies to continuously innovate and differentiate their products.
He predicted that 2021 would mark a significant turning point for the New Administrative Capital, both in terms of customer and investor demand. This, he said, would lead to a price surge in the area, which already stands out for its advanced infrastructure, road networks, and prime location. He described the New Capital as the natural extension of East Cairo and Fifth Settlement, which are approaching saturation in both projects and demand.
Eng. Mohamed Abdel Moneim, CEO of Valda, announced that construction of the Middle Ring Road commercial complex will begin in Q1 2021, with delivery expected within three years.
He explained that the sales and marketing strategy will include both leasing and ownership options, with ownership units representing 30% of the total, expected to yield returns of approximately EGP 400 million.
Abdel Moneim added that Valda has successfully completed and delivered its previous projects, including “Aqoya” and “Hayati Residence” in New Cairo.
Ahmed El Desouky, Managing Director of Valda, noted that the design of the Middle Ring Road commercial complex emphasizes diversity of activities to ensure integration and harmony. He added that Valda is committed to partnering with leading brands and international names that will add value to the project and enhance the Egyptian retail market.
El Desouky stressed that since its establishment, Valda has pursued a strategy aligned with Egypt’s real estate market evolution and the national urban development vision, aiming to build a diversified project portfolio within a record timeframe.
He added that within five years, Valda aims to rank among the top 10 real estate developers in Egypt, distinguished by its high-quality developments, integrity, commitment, and customer satisfaction.
Valda Real Estate Development is the result of a strategic partnership between Aqoya — the owner and developer of several projects such as Aqoya Compound, Liven Square, and The Ledge in New Cairo — and New Avenue for Investment and Real Estate Marketing, a company that has quickly established itself among Egypt’s top real estate marketing firms.
