Home Group Developments, Saudi Aseel Group launch project in Egypt

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Home Group Developments has announced the launch of its latest project, a commercial, administrative, and medical mall in Egypt, in partnership with Saudi Aseel Group. The project, with investments exceeding EGP 1bn, will be built in New Cairo.

Home Group Developments Chairperson Anton Gamal confirmed the strategic partnership with Aseel, a company under Saudi Saleh Almudayfer Son’s Holding Company, to collaborate on various projects.

“The project is a commercial, administrative, and medical mall, consisting of a ground floor and six additional floors, along with two underground parking levels,” Gamal said. “The architectural design of the project ensures a complete separation between the commercial and administrative services, guaranteeing optimal operation for visitors and users of the project.”

Gamal added that the project will be delivered within three years and that the company has contracted with Smarch Architecture to serve as the project’s engineering consultant. He noted that the company offers flexible payment plans for customers, with payment periods extending up to six years.

Home Group Developments owns a land portfolio totalling 50,000 square metres, encompassing around 79 separate projects, 22 of which are currently under development. The company has a robust plan to develop these lands according to a set timeline.

Abdullah bin Saleh Almudayfer, Chairperson of Aseel Group, a subsidiary of the Almudayfer Group Holding, stated that Aseel decided to enter the Egyptian market due to its strong competitive advantages, including high demand and numerous investment opportunities.

Wael Elsamman, Founder and head of Smarch Architecture, said that a distinctive architectural design has been developed for the project, ensuring that administrative spaces enjoy a unique view and provide a psychologically comfortable work environment that fosters creativity among those in the offices.

Flexibility in space design has also been considered, allowing companies to acquire entire floors for their activities. For the commercial spaces, the design ensures the integration of various commercial activities within the project.

Elsamman pointed out that distinctive architectural design does not only focus on the aesthetic exterior of the project but also on creating a design that meets the current and future needs of clients, accommodating any changes in their preferences or market trends.