Naia Developments invests EGP 46bn in Egypt’s real estate market, expands portfolio – Dailynewsegypt
Naia Developments has announced a significant increase in its investments in Egypt, reaching EGP 46bn as part of its ambitious expansion plans. The company is also expanding its land portfolio, which now includes 252 feddans in West Cairo and Ras El Hekma, on the North Coast.
The company held a press conference to unveil its future strategies, highlighting the success of its flagship projects, Naia Bay in Ras El Hekma and Naia West in New Zayed City.
“Naia is keen to creating thriving communities that cater to families’ needs,” said Hisham El-Danasoury, CEO of Naia Developments. He added that the company is exploring new investment opportunities in east Cairo, leveraging the government’s infrastructure development initiatives.
El-Danasoury noted that the new Fouka Road has significantly reduced travel time to Naia Bay, making it more accessible for residents. The distance between Cairo and El Alamein has been reduced to 140 kilometres from nearly 240 kilometres.
Mohamed Farag, Vice Chairperson for the Commercial Sector at Naia Developments, provided more details about the company’s projects. Naia Bay, which spans 470,400 sqm on the North Coast, offers a diverse range of properties, including villas, townhouses, and chalets. The first phase of the project is scheduled for delivery in 2025.
“The project is distinguished by its professional planning and the highest quality standards in execution,” said Farag, adding that Naia Bay offers amenities through collaboration with top designers and partners, including EIGhoneimi Architects and Crystal Lagoons. The project includes a commercial centre, an entertainment area, restaurants, and more.
Farag announced the launch of a new luxurious phase of standalone villas in Naia Bay called Fira, and noted that Naia has partnered with Accor, a world-leading hospitality group, to manage two hotels within Naia Bay under the Swissôtel and Swissôtel Residence brands. These hotels are scheduled to open in the third quarter of 2027 and will be the first of their kind in Ras El Hekma.
Regarding Naia West, Farag explained that the project, which extends over an area of 140 feddans in the 6th of October and Sheikh Zayed cities, was designed in collaboration with Raafat Miller, a specialist in comprehensive design and management consulting in the Middle East.
The company has also launched a new residential area called Alana, which has already generated significant interest, with sales reaching EGP 2bn even before the official launch.
“The finishing of Alana units has been assigned to Kyme Alchemy, one of the leading companies in the field of design,” said Farag.