New investments of 10 billion EGP injected in Carnelia project in Ain Sokhna
Ajna Developments delivers high-quality real estate products designed to create integrated urban communities in alignment with Egypt’s Vision 2030
Ajna Developments has announced the launch of its latest project, Eastville, located in New Cairo’s Fifth Settlement. Spanning 20 acres with a total investment of 5 billion EGP, the project represents a strategic partnership with Dr. Ahmed Youssef Al Araby, CEO of Kelma Development Consulting, Dr. Omar Okail, CEO of Azure Architects and Mohamed El Messary, CEO of Frontline Commercial Real Estate, to accelerate the project’s progress. This reflects Ajna Developments’ commitment to delivering innovative, high-quality real estate products aimed at creating integrated urban communities that align with Egypt’s Vision 2030.
“Eastville” project is considered a uniquely distinguished addition to the fifth settlement in New Cairo. Through this project, Ajna Developments aims to provide a vibrant urban community that adds value to its residents and contributes to the development of the surrounding area. The project features a range of facilities and comprehensive services, with modern designs that impart a unique urban character. It includes diverse residential units ranging from 190 to 290 square meters, strategically located amid multiple lakes, with unit deliveries expected to begin in 2028.
In this context, Eng. Osama Shalaby, Chief Executive Officer of Ajna Developments, stated: “We are committed to offering innovative visions for the Egyptian real estate market through the development of integrated, high-quality projects that meet our clients’ needs, align with global trends, and contribute to sustainable urban development, thereby enhancing our position in the real estate sector.”
Shalaby added: “As part of our expansion strategy, we are pleased to announce the launch of ‘Eastville’ in New Cairo, which represents a new and pivotal addition to our portfolio, alongside ‘Carnelia’ project in Ain Sokhna, with investments totaling 10 billion EGP. At Ajna Developments, we were driven by the trust and confidence of our clients to achieve more”.
Ajna Developments aims to make a transformative impact on the Egyptian real estate market by introducing innovative concepts that align with the government’s aspirations for sustainable urban development. Since its establishment in 2019, the company has solidified its position as a leading player in the real estate development sector, thanks to its strategy that combines innovation with high quality. The company relies on thorough market research and understanding of customer interests to deliver integrated residential projects that meet modern quality of life standards.
Ajna Developments focuses on executing its projects by selecting strategic locations and innovative architectural designs that ensure optimal space utilization while keeping pace with the latest design trends. Among its prominent projects is “Carnelia” in Ain Sokhna, which serves as a model of innovation and quality in tourism projects, alongside “Eastville.” Together, they reflect the company’s commitment to providing comfortable and inspiring living experiences that meet customer expectations, thereby enhancing its position in the Egyptian market and contributing to future growth and expansion opportunities.
The company also highlighted the latest updates related to “Carnelia” project in Ain Sokhna, which spans 100 acres and is located 160 meters above sea level. ‘Carnelia’ boasts 1,800 fully finished units ranging from 55 to 265 square meters, all offering stunning sea views. Approximately 60% of the phase one buildings have been completed. The project includes exceptional recreational facilities such as 9,000 square meters of swimming pools and 12,000 square meters of artificial water features, along with four clubhouses and green spaces covering 83% of the project area. Delivery of the project is scheduled to begin in 2026.
