Kleek Developments debuts in real estate market with EGP 8bn target sales for its first year

Kleek Developments makes a powerful debut in Egypt’s real estate market with the launch of its first project, Noll New Cairo. The project serves as a key milestone in the company’s ambitious strategy to invest EGP 100bn in real estate sector over the next five years.

Eng. Hussein Dawood, board member of Kleek Developments, stated that a prime strategic location was chosen for the Noll New Cairo project, ensuring the best investment opportunities for both the company and its clients.

The project is located in an exceptional spot in the Sixth Settlement area, just 20 minutes from Cairo International Airport, 15 minutes from the Suez Road, 20 minutes from the American University in New Cairo, 8 minutes from District Five, 12 minutes from Al Ahly Club in the Fifth Settlement, and 15 minutes from the Iconic Tower in the New Administrative Capital.

He pointed out that Noll New Cairo is located in the heart of a thriving urban area, surrounded by major and distinguished projects, in a central location close to all major roads, ensuring optimal accessibility to the project. To make the most of this strategic location, the project’s built-up area is limited to just 18%, providing every unit within the development with a stunning view.

The project spans an area of 90 feddans, featuring a fully integrated urban design that includes residential units ranging in size from 80 sqm to 380 sqm, with buildings comprising a ground floor and seven stories in the residential section. Additionally, the project includes a commercial area, clinics, and various administrative spaces.

Prof. Dr. Mohamed Sakr, board member of Directors at Kleek Developments, highlighted the importance of maximizing the project’s strategic location by collaborating with distinguished and reputable success partners. To ensure the highest standards of efficiency and quality, Yasser Al Beltagy Architects (YBA) has been appointed as the project’s engineering consultant, while MRP will manage the project.

Sakr said that the company’s land bank includes 150 feddans, with plans to develop a diverse range of distinctive projects. The company also aims to expand this portfolio by studying available investment opportunities and adding suitable ones to its land bank.

He added that Kleek Developments is planning to become one of the leading companies in the real estate market within a short time frame.

He noted that the company relies on self-financing to implement its projects, reflecting a strong financial position and a clear plan to execute the project without being dependent on revenues from its marketing efforts. This ensures the project’s completion according to schedule, regardless of the marketing percentage or external changes affecting the project.

He further pointed out that the company aims to reach a total investment volume of EGP 100bn within its first five years in the real estate market. This ambitious plan highlights the company’s vision to secure a leading position in real estate market by delivering a diversified portfolio of high-yield projects, with commitment, credibility, and quality being the key pillars to achieving this goal.

Dr. Tarek El-Mohamady, board member of Kleek Developments, stated that the Sixth Settlement area was chosen to launch the company’s first project due to its proximity to major roadways and upscale residential communities, the high elevation of the land providing attractive views, and the presence of vast green spaces. Additionally, it is located in a prime area within New Cairo.

El-Mohamady said that construction is planned to begin soon, with delivery expected within three years from the start of the project. The company plans to invest up to EGP 500m in the project’s construction throughout 2025, aiming to maintain a stable and disciplined timeline to ensure delivery on schedule for clients.

He shared the company’s expansion strategy for the next phase, with Kleek Developments targeting growth in the North Coast and the New Administrative Capital. The company plans to identify exceptional investment opportunities and carefully select the best ones at the right moment. Through this approach, Kleek Developments aims to diversify its investment portfolio and secure a significant share of the real estate market’s clientele.

Kleek Developments was established through a partnership between Emaar El Delta for Real Estate Investment and Style Home Development. The new entity, Kleek Developments, launched with strong expertise spanning over 20 years, backed by ambitious investment plans. The company’s shareholder structure includes a team with extensive experience in the Egyptian real estate market, consisting of Eng. Hussein Dawood, CEO of Style Home Development, along with Dr. Mohamed Sakr and Dr. Tarek El-Mohamady, the CEOs of Emaar Delta.