You are currently viewing Egypt-UAE Venture VIE Communities Launches EGP 91bn Zomra East Services Project

Egypt-UAE Venture VIE Communities Launches EGP 91bn Zomra East Services Project

Prime Highlights

  • VIE Communities has officially entered the Egyptian market with plans to develop the services zone at Zomra East, targeting EGP 91 billion in total sales.
  • The project includes commercial, hospitality, entertainment, and office facilities, as well as a sports club, medical district, hotels, serviced apartments, and a landmark 90-meter tower.

Key Facts

  • The 65-feddan project will be delivered in four phases, with the first phase completing in two years and the landmark tower expected in five years.
  • VIE Communities is collaborating with top design and consultancy firms, including SA Architects, Paradigm, PwC, and Andersen, to ensure high-quality execution.

Background:

VIE Communities, a new Egypt-UAE real estate company, has entered the Egyptian market. It plans to develop the services zone at Zomra East, aiming for total sales of EGP 91 billion.

The company, set up as an Egyptian joint-stock firm, works in investment, development, construction, and real estate. Its founding shareholders include Glamour Jewellery Egypt, represented by Tarek Soliman; DAMAS Real Estate UAE, represented by Tawhid Abdullah; and Haitham Samir, who serves as VIE Communities’ CEO and Managing Director.

The first project under the new venture is the services zone at Zomra East, in partnership with Nations of Sky, the master developer of the residential compound. Tamer Nabil, Vice Chairperson of Nations of Sky Egypt, said the collaboration leverages the combined strengths of both companies in development and execution. VIE Communities will lead the development of the zone.

The 65-feddan zone will include commercial, office, hospitality, and entertainment facilities, such as a sports club, medical district, hotels, serviced apartments, and a landmark tower reaching 90 meters. The project will be built in four phases, with the first phase finishing in two years.

VIE Communities is working with top design and consultancy firms, including SA Architects, Paradigm, PwC, and Andersen.

Zomra East is in New Cairo’s Fifth Settlement, in the Golden Square area near North 90 Street, one of Cairo’s key urban hubs. Samir said VIE Communities is also exploring more opportunities in Egypt as part of its expansion plans.

The project is a major Egypt-UAE investment and is expected to boost Cairo’s urban development and economy.