IMS Developments and Winvestor Development, in collaboration with El Nasr Housing and Development—a subsidiary of the Holding Company for Construction and Development, under Egypt's Ministry of Public Business Sector—have announced the launch of the Capella Residence project in Maadi's El Mearag Al-Sofli area. The development comes with a total investment of EGP 1.1bn. Hesham Ibrahim, Managing Director of IMS Developments and Winvestor Development, emphasized that this partnership aligns with the companies' strategic goal of expanding their presence by fostering diversified collaborations for future integrated residential projects. This also supports the national development plan aimed at increasing Egypt's inhabited area from 7% to 14%. Under the terms of the partnership, El Nasr Housing and Development will provide the land for the project, receiving a share of the revenue in return. Meanwhile, IMS Developments and Winvestor will handle marketing, construction, sales, and part of the post-completion management of the project. Spanning 9,227 square meters, the Capella Residence will consist of 15 residential buildings, featuring 280 units. Each building will include a parking garage, a ground floor, and four additional floors. Unit sizes will range from 85 sqm to 187 sqm. The necessary construction permits have been secured, and the project is currently awaiting excavation approvals from the relevant authorities, with work expected to begin in the second quarter of 2025. Ibrahim also shared that the architectural and engineering design of the project will be overseen by Criteria Design Group. The firm is tasked with ensuring that the development meets the highest standards of engineering, environmental sustainability, and marketing excellence. Mohamed Abdel Maksoud, Managing Director and CEO of El Nasr Housing and Development, spoke about the government's continuous support for the real estate sector, particularly in creating essential infrastructure and fostering productive partnerships with the private sector. He highlighted the growing number of investment opportunities available within public sector companies, including real estate and land assets owned by housing companies affiliated with the Ministry of Public Business Sector. Abdel Maksoud also emphasized that 2025 will see further collaboration with the private sector in various projects, underscoring the government's commitment to strengthening partnerships and attracting both local and foreign investments. He noted that the Capella Residence project is a testament to the Egyptian government's efforts to effectively utilize state-owned assets, maximize returns, and leverage the private sector's expertise, technology, and financial resources. Hesham Helal, Chairperson of Criteria Design Group, shared that the Capella Residence project integrates architectural, environmental, social, and cultural considerations into its design. The development will incorporate the latest technologies and innovative solutions to minimize construction and operational costs while delivering a distinctive architectural standard for residents.
