VIE Communities has officially launched in Egypt, bringing forward innovative strategies and projects designed to deliver added value to the country’s real estate sector.
The company is an Egyptian joint-stock entity with extensive expertise in investment, development, construction, and real estate. Its founding shareholders include Glamour Jewellery of Egypt, represented by Mr. Tarek Soliman, DAMAS Real Estate UAE, represented by Mr. Tawhid Abdullah, and Dr. Haitham Samir.
Dr. Haitham Samir, CEO and Managing Director of VIE Communities, stated that the company plans to execute an ambitious investment program encompassing multiple diverse projects. The strategy embraces the latest architecture design and urban planning standards, addressing future market needs while reflecting contemporary trends in real estate sector.
He explained that the company was launched with a capital of EGP 1bn and is preparing to roll out its first project in Egyptian market, which is the services zone of Zomra East, being developed in partnership with Nations of Sky, the developer of the Zomra East compound in New Cairo’s Fifth Settlement.
Eng. Tamer Nabil, Vice Chairman of Nations of Sky– Egypt, stated that that the strategic core development partnership with VIE Communities marks a significant contribution to the real estate sector.
He said that the combined expertise of both companies in development, execution, and marketing will enable the delivery of an innovative project that adds substantial value and returns to the market.
Nabil added that VIE Communities will oversee the full development of the project’s services zone, which covers 65 feddans and features commercial, administrative, hospitality, and entertainment properties, alongside a club and a 90-meter tower. The project will be developed in four phases, with the first phase expected to be completed within two years.
He disclosed that the services zone of Zomra East features a diverse mix of components, including commercial and administrative spaces, hotels, serviced apartments, a fully integrated medical area, an entertainment zone, and a sports club.
Meanwhile, the commercial and administrative areas are being designed in multiple styles to accommodate the needs of international brands. The development aims to attract multinational companies and global brands, supporting goals to draw foreign investment, boost tourism, and promote Egypt’s real estate export.
The Vice Chairman of Nations of Sky noted that Zomra East occupies one of the most prestigious locations in Fifth Settlement, within Golden Square district, at the highest point of North 90 Street.
Nabil concluded that project represents a remarkable addition to Egypt’s real estate sector, offering high-quality real estate products, with construction progressing at a fast and standardized pace to ensure timely delivery according to the planned schedule.
Regarding sales and the project timeline, Dr. Haitham Samir, CEO and Managing Director of VIE Communities, revealed that the services zone of Zomra East is targeting EGP 91bn in sales.
The project’s club is scheduled to open within two years, while commercial and administrative zones will be fully completed within four years, with the first phase delivered in two years. The tower is scheduled for completion within five years.
To ensure top-tier planning and design, VIE Communities has collaborated with leading international and local firms, including SA Architects, Paradigm, PwC, and Andersen.
VIE Communities is also preparing to unveil additional major projects in the Egyptian market soon, highlighting its strategy of rapid, well-planned expansion.
