New Jersey Developments launches EGP 50B Jamila North Coast

Updated 7/30/2024 5:53:00 PM

Arab Finance: New Jersey Developments has launched Jamila, its latest residential project on Egypt's North Coast, with an investment of up to EGP 50 billion, as per an emailed press release.

This announcement coincides with updates on the company’s flagship projects, "Green Avenue" in the New Administrative Capital and "Jura El Galala" in Ain Sokhna.

Located 263 kilometers from Cairo and spanning 130 acres, the Jamila project aims to boost the North Coast's appeal as a tourist and investment destination.

It will feature a variety of residential units, including chalets, duplexes, hotel apartments, studios, standalones, townhouses, and villas, all with direct sea views. Units will range in size from 75 square meters (sqm) to 217 sqm.

The project is set to be completed in three years, with delivery expected in 2027.

New Jersey Developments emphasizes sustainability in Jamila, using eco-friendly building materials and energy-saving techniques. A significant 91% of the project area will be dedicated to green spaces and water features.

The company also provided updates on its other projects. Green Avenue in the New Capital is set to deliver 530 units by the end of 2024, featuring cultural attractions such as a waterwheel, exhibition areas, and regular performances.

Meanwhile, the delivery of Jura El Galala in Ain Sokhna, offering luxury hotel units, is expected to begin next year.

New Jersey Developments' expansion aligns with Egypt's Vision 2030, aiming to develop integrated, sustainable urban communities and enhance Egypt's position as an investment hub.