Valda achieves record-breaking booking rates for the first commercial complex on the Middle Ring Road — EGP 700 million in construction costs, with implementation starting in Q1 2021.
By Dina Hussein and Zeinab Talba
Valda Real Estate Development Company aims to invest EGP 700 million in the construction works of the first fully integrated commercial complex located directly on the Middle Ring Road in Fifth Settlement.
Valda is developing the project with a new vision that emphasizes providing the largest possible open-air spaces (outdoor areas) for all retail units — aligning with public health guidelines and new standards that have emerged following the spread of COVID-19.
Eng. Mohamed Shehata, Chairman of Valda, stated that the company achieved remarkable results immediately after opening reservations, receiving strong interest from investors despite the uncertainty the market faced due to the pandemic. He noted that the high demand reflects the project’s unique concept and the innovative approach Valda is introducing to the market.
Shehata added that clients have praised Valda’s innovative product, developed after extensive market research to introduce a new concept that enriches the Egyptian real estate market, building on the founders’ strong track record and experience.
The project spans 20,000 square meters, with a building-to-land ratio of 40%, and has been designed by an internationally renowned architectural firm.
Valda plans to expand its footprint in the Egyptian market, particularly in East Cairo and the New Administrative Capital, by acquiring land to develop integrated projects.
Shehata further revealed that the company aims to launch a fully integrated residential project, similar to its previous “Aqoya” development, with additional features that ensure an innovative concept adding value to the New Administrative Capital and meeting the needs of its target clientele.
He emphasized that Valda conducts thorough feasibility and market studies before launching new projects to ensure economic viability and added value. Given the growing competition in the real estate sector, companies must focus on product innovation to maintain their edge.
Shehata also predicted that 2021 would mark a major boom for the New Administrative Capital, with increasing demand from both clients and investors. This surge is expected to drive significant price growth in the area, which benefits from advanced infrastructure, road networks, construction quality, and a strategic location. He noted that the New Capital represents the natural extension of East Cairo and Fifth Settlement, which have nearly reached saturation in terms of new projects and demand.
Meanwhile, Eng. Mohamed Abdel Moneim, CEO of Valda, announced that construction of the Middle Ring Road commercial complex will begin in Q1 2021, with delivery scheduled within three years.
He explained that the sales strategy includes both leasing and ownership models, with ownership representing 30% of total units, expected to generate returns of around EGP 400 million.
Abdel Moneim also mentioned that Valda has completed and delivered its previous projects, including “Aqoya” and “Hayati Residence” in New Cairo.
Ahmed El Desouky, Managing Director of Valda, stated that the design of the Middle Ring Road commercial complex focuses on activity diversity, ensuring integration and harmony. The company is also working to partner with leading brands and international names that will add value to the project and the Egyptian retail market.
He emphasized that since its establishment, Valda has adopted a strategy aligned with the evolution of Egypt’s real estate market and the state’s urban development vision, aiming to build a diversified project portfolio within a record timeframe.
El Desouky added that within five years, Valda aims to be among the top 10 real estate developers in Egypt, distinguished by its high-quality products, credibility, 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, one of the most prominent marketing firms in the Egyptian market that has established a strong presence in a relatively short period.
