Sky Abu Dhabi Developments has been relentlessly demonstrating its valuable addition to the Egyptian real estate market, particularly in the New Administrative Capital (NAC). Within less than 8 months, the Emirati company is introducing its second project to the Egyptian market. The company has presented a successful model for foreign investment in Egypt that earned it “Top Investment Performance in the New Capital.”
With EGP 1.7 bn worth of investments, the subsidiary of Diamond Group and one of the leading Emirati real estate developers launched “Capital Avenue,” a commercial project spanning an area of more than 21,000 m2 including mixed-use buildings for F&B, clinics, retail, administrative offices and serviced apartments.
Located in a prime location in the R8 area, “Capital Avenue” will embody the essence of premium living in one of the quietest and most competitive locations in the New Administrative Capital, overlooking the diplomatic area from the east, the open club from the north, and the Green River from the south near the city center.
The project is also designed with water features, a central promenade and will offer an outdoor café area and premium brands as well as various spaces for commercial and administrative uses. Delivering early 2025, “Capital Avenue” is the commercial district of Sky Abu Dhabi‘s first project in Egypt, Residence Eight.
In response to the high demand on its first project in NAC, Residence Eight, the company has launched a new phase “Pool Side”, which includes a variety of residential units ranging in size from 110 to 360m2, featuring apartments and duplexes overlooking swimming pools. The “Pool Side” phase is now available for reservation with payment plans up to 10 years, catering to clients’ needs.
Residence Eight is expected to be a pivotal destination and will attract major companies and international brands, driven by the Emirati company’s expertise in implementation and management. Spanning 23 acres, the project has sold 600 units of the 1,000 units, with another 200 units expected to be sold in the fourth quarter of the year.
Residence Eight brings modern living solutions to the Egyptian market with 80% allocated to residential buildings and 20% to commercial facilities, all designed with cutting-edge architecture and advanced engineering techniques, to meet customers’ demands while providing comfort, safety and privacy. The project also encompasses large outdoor areas suitable for events and other outdoor residential activities, in addition to a luxury clubhouse experience only few minutes away from residents’ homes.
It is noteworthy that Sky Abu Dhabi Real Estate Development Company is a subsidiary of the UAE Diamond Group, a leading real estate developer with a wide portfolio of projects and activities amounting to more than 17 projects in the UAE and an investment size of USD 1 bn.