ASALDI Properties launches its first project ‘Shades’ in Egypt with $80mln investments

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Egypt - ASALDI Properties has started its operations in the Egyptian market with its flagship project Shades, which has a total investment of EGP 2.5bn. The company aims to invest EGP 10bn in the next five years.

ASALDI Properties specializes in commercial and administrative buildings. “The Egyptian market is promising and full of opportunities that can be exploited at the moment,” said Hany Al Assal, the founder of ASALDI Properties.

Mohamed Hany Al Assal, the co-founder and owner of ASALDI Properties, said, “The Egyptian real estate sector is a significant market with genuine and strong demand.” He added that the project’s investment value is EGP 2.5bn.

Shades is the company’s first commercial and administrative project in East Cairo, with a built-up area of 48,000 sqm and a leasable area of more than 18,000 sqm. The project consists of four floors that include offices, clinics, restaurants, shops, and entertainment areas, as well as a parking floor that can fit over 400 cars.

Shades is expected to be completed by the end of 2025, and the company has begun operations and sales in the project since December 2023.