Egypt - SKY AD. Developments, the real estate arm of the Emirati Diamond Group in Egypt, has initiated construction on the Bluetree project, situated in the prestigious Golden Square of New Cairo. This marks the company’s third venture in Egypt and its inaugural development in the Fifth Settlement.

During an exclusive media visit to the project site, executives including CEO Abdelrahman Agami and Chief Commercial Officer Mostafa Salah participated in the ceremonial laying of the foundation stone. Their presence underscores the company’s confidence in the resilience and potential of the Egyptian real estate market.

To elevate the customer experience and establish new design and quality standards, SKY AD. Developments has partnered with JZMK Partners, a leading global architecture and design firm. Egis, a renowned French consulting and engineering group with extensive project management expertise, will oversee Bluetree’s development. Egis has a proven track record of supervising major projects across diverse sectors in Egypt and internationally.

Bluetree spans 50 feddans within New Cairo’s Golden Square and represents an EGP 8bn investment for SKY AD. The project includes 1,300 residential, commercial, and administrative units. Amenities such as a sports and social club, a central park, children’s play areas, dedicated bike lanes, and smart services ensure exceptional living experiences and attractive investment opportunities.

Abdelrahman Agami, CEO of SKY AD. Developments, stated: “We are allocating approximately EGP 12bn toward our developments in the Egyptian market, including projects in the New Administrative Capital and New Cairo. This commitment aligns with our previously outlined EGP 15bn investment strategy. We aim to strengthen our market presence by delivering exceptional projects that meet our clients’ evolving needs and contribute to economic advancement. We remain steadfast in offering a distinctive living experience characterised by superior quality and innovative design.”

Mostafa Salah, Chief Commercial Officer, said: “We have achieved a significant milestone, having sold 40% of Bluetree’s residential units, totalling approximately EGP 5bn in sales. The first units are scheduled for delivery in 2027.”

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