SKY AD. Developments, the subsidiary of Diamond Group, has launched its latest prominent project, Blue Tree, located in Golden Square in New Cairo with total investment worth EGP 8bn. Spanning over 50 feddan, the mixed-use project includes residential, commercial, and administrative units offering luxurious and sustainable living spaces. The launch of Blue Tree comes after two years of SKY AD.'s commencement in the Egyptian real estate market as part of the company's expansion plan regionally and globally. CEO of Diamond Group and SKY AD. Developments Abdelrahman Agami stated: "We have an ambitious plan to invest and expand further in the Egyptian market, therefore we have already launched three different projects in a record time, and we aim to increase our investments in the coming period." The urban development plans adopted by the Egyptian government encourage developers to establish integrated residential, commercial, and administrative projects, and we at SKY AD. are keen to implement this vision," he said. Agami added that the company considers Blue Tree as an added value to the Egyptian real estate market, commented, "Bringing its expertise in implementing rapid delivery of units with the highest quality standards, SKY AD. offers a remarkable model in developing integrated urban projects in the Egyptian real estate market." Encouraging an active and healthy lifestyle, 81% of the project will be developed on wide-open spaces to provide eco-friendly and sustainable experiences, preserve the climate and rationalize natural resources consumption. Moreover, Blue Tree's buildings are constructed on a ground-floor and four floors, various units, with built-up area representing only 19% of the total space of the project comprising approximately 1,300 units, varying between luxury and duplex apartments varying between 115 to 300 sqm. SKY AD. Developments has partnered with JZMK company, one of the world's largest architecture and design firms to provide a distinctive design using the latest sustainable technology solution. The construction work is set to begin in 2023, and the first phase to be delivered in 2027. SKY AD. Developments was launched in Egypt in 2021 with the aim of constructing urban projects in the Egyptian market. In record time, the company was able to establish two projects in the New Administrative Capital; Residence Eight, which was sold out within a year of its official launch; and Capital Avenue, a commercial project spanning an area of 21,000 sqm. SKY AD. Developments has achieved EGP 2.6bn in sales since its entry into the local market.
