Cairo – SKY AD. Developments, the real estate arm of the esteemed Emirati Diamond Group in Egypt, has commenced construction on the Bluetree project, strategically located in the prestigious Golden Square of New Cairo. This significant milestone marks the company's third venture in Egypt and its inaugural development in the Fifth Settlement. It underscores SKY AD. Developments' unwavering commitment to Egypt’s National Strategic Urban Development Plan 2052, reflecting the company's confidence in the Egyptian real estate market and dedication to delivering projects that substantially enhance the sector.

The announcement, made during an exclusive media visit to the project site, featured the ceremonial laying of the foundation stone. Distinguished executives, including CEO Eng. Abdelrahman Agami and Chief Commercial Officer Mr. Mostafa Salah, were present, underscoring the company's confidence in the resilience and potential of the Egyptian real estate market.

SKY AD. Developments is dedicated to investing substantial resources into the Bluetree project, thereby augmenting the sector's GDP contribution and creating numerous employment opportunities. The company places a premium on customer trust by ensuring the timely delivery of superior quality units, meticulously designed and constructed to the highest standards. Additionally, it remains steadfast in its adherence to environmental sustainability norms. Recently, the company has secured all requisite permits, thus paving the way for the project's commencement.

In a bid to enhance the customer experience and set new standards for design and quality, SKY AD. Developments has collaborated with JZMK Partners, one of the world’s foremost architecture and design firms. This partnership aims to deliver a distinctive design, incorporating the latest advancements in sustainable technology solutions.

To ensure top-tier execution, SKY AD. Developments has engaged Egis, a renowned French consulting and engineering group with extensive project management expertise, to oversee the development of Bluetree. Egis boasts a proven track record of supervising major projects across diverse sectors in Egypt and internationally. Their portfolio includes significant achievements in rail, water structures, energy, aviation, and building projects for various developers, as well as numerous urban and mobility projects.

Spanning 50 acres within New Cairo's prestigious Golden Square, Bluetree stands as SKY AD's third project, marking an EGP 8 billion investment. Strategically positioned near key highways and landmarks such as the American University in Cairo, Cairo International Airport, Heliopolis, Al Ahly Club, and the New Administrative Capital, the project enjoys a prime location.

Bluetree boasts a world-class design comprising 1,300 residential, commercial, and administrative units. The project integrates amenities such as a sports and social club, a central park, children's play areas, dedicated bike lanes, and smart services, ensuring unparalleled living experiences and lucrative investment opportunities.

"SKY AD. Developments is allocating around EGP 12 billion towards its developments throughout the Egyptian market, encompassing projects in the New Administrative Capital and New Cairo. This commitment is integral to our previously outlined EGP 15 billion investment strategy," stated Eng. Abdelrahman Agami, CEO of SKY AD. Developments. "Our objective is to consolidate our market presence by delivering exceptional projects that cater to our clients' evolving requirements and contribute to economic advancement. We remain steadfast in our commitment to offering a distinctive living experience characterized by superior quality and innovative design."

For his part, Mostafa Salah, Chief Commercial Officer, said, "Bluetree represents a  remarkable advancement to the Egyptian real estate landscape, characterized by its contemporary JZMK-designed architecture. It features a comprehensive array of services meticulously crafted to meet the diverse needs of residents, leveraging advanced management and operational technologies to optimize service efficiency while upholding environmental sustainability. We have achieved a notable milestone with the sale of 40% of Bluetree's residential units, amounting to approximately EGP 5 billion in sales. The first units are slated for delivery in 2027."

The Bluetree project has garnered the esteemed African Property Award for Best Residential Project in Africa for 2023-2024. This development epitomizes privacy, tranquility, and security for its residents, with 18% of its expanse dedicated to verdant green spaces, fostering a wholesome environment. The project adheres rigorously to environmental standards aimed at climate protection and natural resource conservation, positioning it as a distinguished choice for living and investment in New Cairo. Bluetree sets a new standard in sustainable and contemporary urban development, meticulously meeting market demands and fulfilling clients' aspirations for luxury and comfort.

About SKY AD. Developments:

Launched in 2021, SKY AD. Real Estate Developments is a subsidiary of Diamond Group; a leading Emirati regional group specialized in real estate development and construction. With a diverse portfolio of projects and operations, the Group’s total investment is over USD 1 billion, through more than 17 projects in the UAE.

With a vertically integrated business model with various mixed-use developments featuring different models of residential units and leisure facilities ensuring fully integrated communities. SKY AD’s Developments is home to a number of different commercial components including schools, business parks, hotels, and utilities in Abu Dhabi & Al-Ein.

As a trustworthy developer, SKY AD. Developments has a portfolio of four projects in Egypt so far, three of which are located in the New Administrative Capital: Residence Eight, Capital Avenue, and One Residence, in addition to Bluetree, which is located at the Golden Square in New Cairo