Egypt's Al Ahly for Real Estate Development said on Tuesday it has launched its latest residential project, The Ridge Compound in Mostakbal City, New Cairo, with investments of 2.5 billion Egyptian pounds ($139.6 million). The mixed-use urban community is spanning over one million square metres and on a built-up area of 400,000 square metres. It features eight types of elevations all of which offer a total of 1,400 units. The project's first phase will be delivered within 2023. "The Ridge is inspired by the fact that it's developed on an area that possesses different elevations which helped in introducing a variety of designs as well as exploring an array of unparalleled views,” according to Ahmed Sabbour, Managing Director of Al Ahly. Located 30 km east of Greater Cairo, The Ridge is in close proximity to New Cairo City from the west, and the New Administrative Capital from the east, as well as Cairo International Airport. Apart from 2 clubhouses, the project offers a diverse mix of units, with sizes ranging between 260 square metres and 380 square metres, including standalone villas, twin houses, and townhouses. The Ridge stands as the second residential compound, following Alaire, to be developed within the city of Odyssia, which covers 2.4 million square metres and is the product of the latest collaboration between Al Ahly and El Mostakbal for Urban Development, with revenues of 35 billion pounds. Sabbour fuerther added that the ability to fulfill the Al Ahly strategic vision has been made possible through the partnership with El Mostakbal. “Al Ahly has had a positive experience in its working relationship with El Mostakbal throughout the years,” he said.
