Egyptian private real estate developer Mabany Edris has announced the launch of its new residential project, ‘Ons New Zayed,’ located in New Zayed City. The total investment for the project amounts to 13.5 billion Egyptian pounds, which is approximately $266 million.

The project spans 84 acres and will consist of 1,012 units, featuring a variety of housing options, including one-bedroom apartments, townhouses, twin houses, and villas. According to Mohamed Idris, CEO of Mabany Edris, the company has partnered with Alchemy Design Studio for the architectural design of the project.

In addition to the residential units, Ons New Zayed will incorporate hotel apartments aimed at foreign visitors, a hotel to bolster the city’s tourism sector, a social club, administrative and commercial spaces, sports courts, and a mosque. Idris highlighted that the project is strategically positioned in New Zayed City to meet the rising demand for real estate, tourism, and services in West Cairo, especially with the forthcoming inauguration of the Grand Egyptian Museum and the operation of Sphinx International Airport.

The development will be executed in four phases, with the residential area covering no more than 15 percent of the total project site. The buildings are planned to consist of a ground floor and two additional stories. The first phase is set for completion in 2029, with the entire project expected to be finished within four years.

Idris shared that the company plans to invest an additional EGP 2 billion, roughly $39 million, in 2025, dedicating EGP 1 billion, or $20 million, to construction activities. He also noted that EGP 200 million, around $4 million, has already been spent in the first quarter of the year to expedite the project’s progress. The goal for 2025 is to deliver at least 300 units, while negotiations are ongoing to acquire more land in areas such as the 6th of October City, East Cairo, the North Coast, and New Assiut.

Furthermore, Idris provided an update regarding the company’s ongoing ‘Koun’ project in Ras Al Hekma on the North Coast, stating that 30 percent of its first phase has been completed. This project spans 110 acres at Kilo 201 on the Alexandria-Marsa Matrouh Road and includes over 1,500 units, ranging from chalets to villas, with a delivery target set for 2027.

Founded more than 25 years ago, Mabany Edris has developed a diverse real estate portfolio that encompasses residential, commercial, administrative, medical, and industrial projects, maintaining a strong presence in the West Cairo area.