Latest news with #NewZayed
Zawya
a day ago
- Business
- Zawya
SODIC hands over VYE project 6 months ahead of schedule
Arab Finance: Sixth of October for Development and Investment Company (SODIC) announced the early delivery of VYE, its next-generation development in New Zayed, according to a press release. This achievement supports the company's position among key real estate developers for ahead-of-schedule delivery. The sustainable scheme is the largest solar-powered residential project in Africa and the second largest in the Middle East. The development is set to deliver 108 units this month, among a total of 1,783 units set for handover throughout 2025. Designed to provide a seamless and integrated living experience, VYE will expand its services with key lifestyle amenities, including the VYE Town Center, scheduled for completion in early 2026. The Karmell Hub will be completed by mid-2026, while a fully equipped community clubhouse will be implemented by the end of 2027. In May, SODIC inked a revenue share agreement with Rula for Land Reclamation for the development of a 1,000-feddan plot in New Sphinx City, located in West Cairo.
Zawya
4 days ago
- Business
- Zawya
Egypt's SODIC begins early delivery of VYE residential project in New Zayed
Egyptian developer SODIC announced on Tuesday that it has commenced early handovers of units at VYE, its flagship residential development in New Zayed. The 108 units being delivered in June forms part of over 1,700 units scheduled for delivery throughout 2025, the EGX-listed developer said in a press statement. VYE is positioned as a next-generation, sustainable community and is home to the largest solar-powered residential project in Africa and the second largest in the Middle East. 'Delivering VYE ahead of schedule is more than just a construction milestone; it reflects our unwavering commitment to our clients,' said Ayman Amer, General Manager at SODIC. Life style amenities scheduled for delivery include the VYE Town Centre (early 2026), the Karmell Hub (mid-2026), and a community clubhouse set for completion by end-2027. SODIC is majority-owned by the Abu Dhabi-based consortium of Aldar and ADQ with Aldar being the controlling investor (70 percent) in the consortium. (Writing by Marwa Abo Almajd; Editing by Anoop Menon) (
Zawya
4 days ago
- Business
- Zawya
SODIC delivers VYE six months ahead of schedule
Cairo, Egypt – SODIC, Egypt's leading real estate developer, proudly announces the early delivery of VYE, its pioneering next-generation development in New Zayed. This milestone comes in line with SODIC's stellar reputation for timely and ahead of schedule delivery, which the developer has maintained for almost three decades. Designed around the pillars of innovation, sustainability, and technology-driven living, VYE is home to the largest solar-powered residential project in Africa and the second largest in the Middle East, setting a new benchmark for future-ready living. With over 108 units scheduled for handover this month, contributing to a total of 1,783 units set for delivery throughout 2025. Ayman Amer, SODIC's General Manager commented stated: 'Delivering VYE ahead of schedule is more than just a construction milestone; it reflects our unwavering commitment to our clients. We are proud to deliver the first homes in New Zayed, with VYE being exemplary for how sustainable, technology-enabled communities can be delivered with precision and purpose. This early delivery reaffirms our focus on execution, quality, and delivering real value to our customers.' Master-planned by internationally acclaimed architects, VYE is thoughtfully designed to offer a seamless, integrated living experience. The community is set to expand with key lifestyle amenities including the VYE Town Center, scheduled for completion early 2026, the Karmell Hub mid-2026, and a fully equipped community clubhouse by the end of 2027. Strategically located in the heart of New Zayed, one of Egypt's fastest-growing destinations, VYE offers direct access to major highways and is just minutes away from Sphinx International Airport, making it not only a home but a smart, connected lifestyle choice.
Zawya
16-05-2025
- Business
- Zawya
Egypt's LMD targets $6bln investments for hospitality and residential expansion
Landmark Developments (LMD) is planning to expand its hospitality and residential portfolio with an investment strategy that targets over 300 billion Egyptian pounds ($6 billon), the company's founder and CEO Amr Sultan said. Speaking to Zawya Projects, Sultan said the company's hospitality portfolio includes 1,330 hotel rooms and 1,800 serviced apartments across key developments in partnership with brands such as W Hotels, Marriott, and Villa Coconut. 'We believe that by partnering with esteemed brands, we can elevate the standard of tourism in Egypt," he said. Among LMD's key developments are the W Hotel and Serviced Apartments, the Autograph Collection, the Tribute Portfolio Hotels in New Cairo, and Ghazala Bay on Egypt's North Coast. The company is also developing the More Serviced Apartments project in New Cairo, offering hotel-style amenities in residential settings. LMD's land bank currently stands at 8 million square metres (sqm), with 4.5 million sqm under development. Its residential project portfolio includes more than 24,300 units. The company's latest launch, the EGP 20 billion ($399 million) 'Being' development in New Zayed, is expected to generate EGP 25 billion in sales ($499 million). The 'Being' project also includes the 'Mindset' business complex developed in partnership with LA7. Sultan said the company is assessing luxury development opportunities in Ras El Hekma on Egypt's Mediterranean coast. Internationally, LMD operates in five countries, with recent acquisitions in Cyprus and growing interest in Saudi Arabia. 'While LMD does not yet have a legal entity in Saudi Arabia, it is actively studying investment opportunities, particularly in luxury developments tailored to Gulf tastes,' he said. LMD is advancing innovative projects like Egypt's first design district within the ONE NINETY project in New Cairo, spanning 199,000 sqm. To manage affordability, the company is adopting flexible installment and pricing strategies and forecasts price increases of up to 13 percent this year in line with inflation. 'Our goal is to create high-quality environments that support economic growth and meet rising expectations across the region,' concluded Sultan. (1 US Dollar = 50.13 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) (
