Egypt: ADVA Developments sells out ADVIDA project’s first phase

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Egypt - ADVA Developments has successfully sold out the initial phase of the ADVIDA project, located in New Sheikh Zayed’s Green Belt area, west Cairo. The first phase’s total sales have reached EGP 350m.

Spanning 21,000 sqm, ADVIDA marks ADVA Developments’ inaugural venture in New Sheikh Zayed City. Currently, 25% of the construction is complete. The project boasts 30 residential units, a 525-sqm commercial center, and an expansive 1,500-sqm entertainment zone.

Ahmed El-Shennawy, Chairperson and CEO of ADVA Developments, remarked: “We are thrilled to announce the complete sale of ADVIDA’s first phase. The project comprises two phases, both set for completion in 2024, with an anticipated total sales div of EGP 800m. Next year, we plan to invest EGP 250m to advance the construction efforts.”

In addition, ADVA Developments is gearing up to introduce a new endeavor on 20 feddan within New Sheikh Zayed City. This upcoming project is slated for a second-half 2024 launch, pending the finalization of land legalization, design completion, and requisite ministerial approvals and licences.