Azad New Cairo: A Promising Residential Project in Egypt's Capital City

Azad New Cairo is an upcoming residential development in the eastern part of Cairo, Egypt's capital city. It is located in the Fifth Settlement area, which has emerged as a sought-after destination for property buyers and investors due to its modern, well-planned layout and proximity to major highways, commercial centers, and recreational facilities.

The project, which is being developed by Minka Development, a subsidiary of the Saudi-based Fawaz Alhokair Group, is designed to offer a premium lifestyle experience to its residents through its innovative architecture, high-quality finishes, and abundant green spaces. Azad New Cairo covers an area of 42 acres and features a diverse mix of apartments, duplexes, townhouses, and villas, catering to different preferences and budgets.

According to Minka Development, Azad New Cairo aims to provide a holistic living environment that promotes health, wellness, and social interaction. The project includes a range of amenities and services, such as a clubhouse, a swimming pool, a gym, a spa, a jogging track, a playground, a library, a business center, a restaurant, and a supermarket. In addition, Azad New Cairo is designed to be environmentally friendly and energy-efficient, with features such as solar panels, LED lighting, and water-saving technologies.

As of September 2021, Minka Development has completed the infrastructure and landscape work of Azad New Cairo, and is expected to start the construction of the first phase of the project soon. The company has already launched the pre-sale of the residential units, with prices starting from EGP 1.8 million (about USD 115,000) for a one-bedroom apartment and going up to EGP 18 million (about USD 1.15 million) for a six-bedroom villa.

The launch of Azad New Cairo comes at a time when the Egyptian real estate market is showing signs of recovery from the impact of the COVID-19 pandemic. According to a recent report by JLL, a global real estate consultancy, the demand for residential properties in Cairo has increased in the first half of 2021, driven by a shift in consumer preferences towards spacious, well-equipped homes with bigger balconies and gardens. In addition, the report noted that the government's efforts to stimulate the economy and attract foreign investment, as well as the improving global economic outlook, are expected to support the real estate sector in the coming months.

Azad New Cairo is expected to create new job opportunities and contribute to the local economy, while catering to the housing needs and aspirations of people from different backgrounds and nationalities. The project reflects the growing interest of international investors and developers in Egypt's real estate sector, which offers attractive returns and growth prospects in a strategic location between Africa and the Middle East.