SKY AD. Developments, a subsidiary of Diamond Group, the leading Emirati real estate company, participated for the first time in the Cityscape Egypt Exhibition 2021 under the auspices of the Ministry of Housing, Utilities, and Urban Communities, by bringing together a stellar line-up of over 250 top-level industry professionals under one roof to exchange knowledge, market trends, and business opportunities.
SKY AD. Developments has been relentlessly demonstrating its value addition to the Egyptian real estate market, particularly in the New Administrative Capital. Within less than 8 months, the Emirati company is introducing its second project to the Egyptian market. The company has presented a successful model for foreign investment in Egypt that earned it “Top Investment Performance in the New Capital”.
With EGP 1.7 bn worth of investments, the subsidiary of Diamond Group and one of the leading Emirati real estate developers, launched “Capital Avenue”, a commercial project spanning an area of more than 21,000 m2 including mixed-use buildings for F&B, clinics, retail, administrative offices, and serviced apartments.
Located in a prime location in the R8 area, “Capital Avenue” is one of the quietest and most competitive commercial areas in the New Administrative and the epitome of perfect design and luxury units. The project is also designed with water features and a central promenade and will offer an outdoor café area, premium brands, and various spaces for commercial and administrative uses. Delivering early 2025, “Capital Avenue” is the commercial district of Sky Abu Dhabi's first project in Egypt, Residence Eight.
In response to the high demand for its first project in NAC, Residence Eight, the company has launched a new phase "Pool Side", which includes a variety of residential units ranging in size from 110 to 360m2, featuring apartments and duplexes overlooking swimming pools. The “Pool Side” phase is now available for reservation with payment plans up to 10 years, catering to clients’ needs.
Residence Eight is expected to be a pivotal destination and will attract major companies and international brands, driven by the Emirati company’s expertise in implementation and management. Spanning 23 acres, the project has sold 600 units of the 1,000 units, with another 200 units expected to be sold in the fourth quarter of the year. Residence Eight brings modern living solutions to the Egyptian market with 80% allocated to residential buildings and 20% to commercial facilities, all designed with cutting-edge architecture and advanced engineering techniques, to meet customers’ demands while providing comfort, safety, and privacy. The project also encompasses large outdoor areas suitable for events and other outdoor residential activities, in addition to a luxury clubhouse experience only a few minutes away from residents’ homes.
Sky Abu Dhabi Real Estate Development Company is a subsidiary of the UAE Diamond Group, a leading real estate developer with a wide portfolio of projects and activities amounting to more than 17 projects in the UAE and an investment size of USD 1 bn.