
Adds Developments has entered Egypt's real estate development market with a land bank of more than 220 feddans across East and West Cairo.
The company is preparing to launch its first project in East Cairo as it begins its expansion in the Egyptian market.
The company said its entry into Egypt builds on the founders' experience in real estate-related activities in the country since 2015.
This experience includes contracting, asset management, operations and facility management. The founders also have more than 20 years of operational experience in the UAE since 2003.
Adds Developments plans to develop projects at relatively close intervals using its existing land bank.
East Cairo will serve as the starting point for the company's wider expansion strategy in Egypt.
The company has not yet disclosed the development value, sales target, project area or expected launch date of its first East Cairo project.
Abdullah Sohail, Chairperson of Adds Developments, said the company has experience across different stages of the real estate development cycle.
According to Sohail, this experience will allow the company to manage activities ranging from assessing investment opportunities and development to construction, facility management and operations.
Adds Developments also plans to work with consultants and specialised partners during project development.
The company will focus on project timelines, engineering specifications and operational requirements.
Sohail said post-handover operation and management are important factors in the long-term performance of the company's projects.
Adds Developments also plans to retain ownership of some units within its projects, according to the Chairperson.
The company said its approach combines investment, development, construction, operations and facility management.
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The company views Egypt as a market supported by population growth, urban expansion and the development of new cities and communities.
Sohail said government-led urban development is creating opportunities for real estate companies to respond to changing housing and investment demand.
The company also said its approach supports the objectives of Egypt's Vision 2030 related to integrated and sustainable urban development.
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Adds Developments described its upcoming East Cairo project as the first stage of a wider development plan in the area.
The project will include contemporary architectural designs and flexible spaces aimed at different customer and investor requirements, according to the company.
The East Cairo development is expected to serve as the starting point for additional projects that Adds Developments plans to introduce in East Cairo and other parts of Cairo.
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