Mohamed Edris launches $266 million housing project in Cairo

Key Points

• Mabany Edris launches Ons New Zayed in New Zayed City, investing EGP13.5 billion ($266.4 million) to deliver 1,012 residential units by 2029.
• The 84-feddan project features apartments, villas, a hotel, and amenities, with homes covering just 15% of the land for low-density living.
• Mabany Edris plans $39.5 million in new investments for 2025 and continues expansion with projects in 6th of October City, East Cairo, and the North Coast.

Mabany Edris, one of Egypt’s leading real estate developers led by Mohamed Edris, has unveiled its latest project, Ons New Zayed, investing EGP13.5 billion ($266 million) to bring the vision to life. 

Set in New Zayed City, a fast-growing area west of Cairo, the development will span 84 feddans. Its location offers easy access to major landmarks like the Grand Egyptian Museum, the Giza Pyramids, and the Sphinx, while its proximity to Sphinx International Airport makes it especially attractive for both locals and international visitors.

Ons New Zayed aims to deliver more than just homes. It will offer a mix of one-bedroom apartments, townhouses, twin houses, and villas, with apartments ranging from 60 to 200 square meters and villas from 160 to 297 square meters. The project will feature 1,012 units.

The plan also includes serviced apartments and a hotel to cater to foreign tenants, tapping into the area’s growing tourism appeal. Residents will enjoy a range of amenities, including a social club, commercial and office spaces, sports courts, and a mosque.

Mohamed Edris emphasized that the project is designed for spacious, low-density living, with homes covering no more than 15 percent of the total land area. Construction will roll out over four phases, with the first homes expected to be ready by 2029.

Looking ahead: Expanding across Egypt

The launch of Ons New Zayed comes as part of broader growth plans for Mabany Edris. The company is preparing to invest EGP2 billion ($39.5 million) into Egypt’s real estate sector next year, with EGP 1 billion ($19.7 million) earmarked for construction projects. Already, EGP 200 million ($3.9 million) has been spent in the first quarter of 2025.

Edris also revealed that the company is in talks to acquire more land in key areas like 6th of October City, East Cairo, and the North Coast, signaling a busy pipeline ahead. Meanwhile, work continues on Mabany Edris’ North Coast project, Koun. Spread across 110 feddans in Ras El Hekma, Koun is already 30 percent complete and is on track to deliver its first phase in 2027. Once finished, it will offer more than 1,500 units, including one- to three-bedroom chalets, townhouses, and villas.

A trusted name in Egyptian real estate

Over the past 25 years, Mabany Edris has built a strong reputation for creating thoughtful, people-centered communities across Egypt, from residential neighborhoods to commercial hubs and industrial zones. Under Mohamed Edris’ leadership, the company has earned its place among the country’s most trusted real estate developers.

In 2023, the company added another milestone with the launch of Koun, a major North Coast project backed by an EGP 6 billion ($118.4 million) investment. Covering nearly 448,000 square meters, Koun reflects Mabany Edris’ commitment to offering a wide variety of homes that meet the needs of modern buyers. With Ons New Zayed and other projects on the horizon, Mabany Edris continues to shape new destinations where people can live, work, and thrive.