New Launch - India Real Estate Report 2026.
Egyptian developer Aknan Developments has launched TEKVERA, a specialised commercial project in New Cairo dedicated entirely to technology-related businesses. The project is positioned as a departure from conventional retail malls, concentrating instead on businesses operating in mobile phones, computers, artificial intelligence products, gaming and electronics maintenance services. Total investment nears EGP 500m across a site of approximately 1,100 sqm.
What the Project Looks Like
TEKVERA will comprise 45 retail units spread across a ground floor and three upper levels (G+3), with food and beverage outlets and dedicated spaces for technology-related activities completing the mix. The building sits on 70th Street in New Cairo, between North and South 90th Streets, behind Trivium Business Complex and close to Future University in Egypt.
It also overlooks the Third Administrative District and is within a short drive of the American University in Cairo, the banking district, Cairo Ring Road, the New Administrative Capital and Cairo International Airport.
Smarch Architecture, led by Wael El Samman, has been appointed architectural consultant. Aknan Integrated Projects will act as execution consultant, while EgyMap Commercial Property Management will handle property management and operations. The company expects to complete and deliver the project within 18 months of its market launch.
- Total area: approximately 1,100 sqm
- Investment: nearing EGP 500m
- Units: 45 retail spaces across G+3 floors
- Delivery timeline: within 18 months of launch
Also Read: Egypt Develops 39 New Cities Over Past Decade: Minister
The Case for a Specialist Format
Karim Magdy, Chief Sales Officer and Vice Chairperson for Commercial Affairs at Aknan Developments, said the aim is to create a specialised commercial destination that draws together both retailers and consumers operating in the technology space, rather than dispersing tech businesses across general retail environments where they compete for attention alongside unrelated categories. The logic is that concentration creates a more purposeful destination for buyers and a more commercially viable environment for tenants.
Magdy also confirmed that Aknan Developments plans to launch three additional projects during the third quarter of 2026, targeting total investments of approximately EGP 5bn as part of a broader expansion push.
TEKVERA represents the company's current direction towards specialised commercial formats, a segment of the Egyptian real estate market that has seen growing developer interest as mixed-use and single-category destinations gain traction in New Cairo's rapidly developing corridors.
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