Kleek Developments has made an entrance into Egypt’s burgeoning real estate market with the announcement of its inaugural project, Noll New Cairo. This ambitious development marks the beginning of the company’s bold plan to inject EGP 100 billion into the real estate sector over the next five years.
Noll New Cairo, strategically situated in the Sixth Settlement area of New Cairo, spans an impressive 90 feddans. The project is set to offer a diverse range of residential units, with sizes ranging from 80 to 380 square meters. The residential aspect of the development will feature buildings composed of a ground floor and seven stories, ensuring a variety of options for potential homeowners. In addition to residential spaces, the project will include commercial areas, clinics, and administrative offices, providing a comprehensive living and working environment.
Hussein Dawood, Board Member of Kleek Developments, has confirmed that construction is poised to begin shortly, with a target delivery timeline of three years. In line with its commitment to quality and timeliness, the company has earmarked up to EGP 500 million for the project’s construction in 2025. This investment underscores Kleek Developments’ dedication to delivering a disciplined and timely project for its clients.
Kleek Developments is not resting on its laurels. As part of its long-term growth strategy, the company plans to expand its footprint to the North Coast and the New Administrative Capital. This expansion is poised to further solidify Kleek Developments’ presence in Egypt’s dynamic real estate market.
The establishment of Kleek Developments is the result of a strategic partnership between Emaar El Delta for Real Estate Investment and Style Home Development. With over 20 years of combined experience in the Egyptian real estate sector, the company is well-positioned to navigate and capitalize on market opportunities. The leadership team includes industry veterans such as Eng. Hussein Dawood, CEO of Style Home Development, and prominent figures like Dr. Mohamed Sakr and Tarek El-Mohamady, CEOs of Emaar El Delta.
The real estate sector in Egypt has been experiencing significant growth, driven by both local demand and international interest. According to a report by JLL, a leading real estate services firm, Egypt’s real estate market is expected to continue its upward trajectory, buoyed by government initiatives and private investments in infrastructure and urban development.
Dr. Ahmed Shalaby, a real estate expert and CEO of Tatweer Misr, commented, “The entry of new players like Kleek Developments highlights the vibrant and competitive nature of Egypt’s real estate market. Their significant investment plans indicate strong confidence in the sector’s potential.”
