Egyptian private real estate developer NAIA Developments has announced the launch of Alana luxury apartments, a new phase within its NAIA West project in New Zayed.

Spanning 140 acres, the NAIA West development represents a total investment of 32 billion Egyptian pounds ($650 million), company Chairman Hisham El-Danasoury told Zawya Projects.

The project’s design is being developed in collaboration with Raafat Miller Consulting, he said.

Alana will cover 70 acres and will be delivered in three phases, with each phase requiring three years to complete. The project comprises 30 buildings with each building containing 12 luxury apartments.

Construction set to commence once licensing approvals are obtained, El-Danasoury said.

NAIA Developments Vice Chairman for Commercial Affairs Mohamed Farag highlighted the company’s extensive portfolio, which includes seven sister companies operating across real estate, construction, and hospitality, with a 250-acre land bank. 

He noted that NAIA Developments achieved sales of EGP10 billion ($203 million) in 2024, further reinforcing its position in Egypt’s real estate market. 

(1 US Dollar = 49.22 Egyptian pounds)

(Reporting by Eman Hamed; Additional reporting by Marwa Abo Almajd; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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