Arab Finance: Polaris Parks, a developer of industrial parks in Egypt, has launched Polaris Homes, its residential real estate development arm, with the introduction of its first projects, Özel Villas and Özel Residences, in Sheikh Zayed City, as per an emailed press release.
The move marks the company's expansion from industrial development into the residential sector. Polaris Parks said the launch is part of its strategy to develop both industrial and residential projects.
The expansion follows more than 20 years of activity in industrial development. During that period, Polaris Parks said it facilitated approximately US$560 million in direct investments to develop industrial infrastructure. The company added that it is targeting the establishment of 1,500 factories across its industrial parks and aims to attract cumulative investments of US$4.5 billion.
With Polaris Homes, the company is applying experience gained through its industrial portfolio, which spans more than 10 million square meters, to residential development. Polaris Parks said the new venture combines international expertise with local market knowledge while maintaining a focus on construction quality and project execution.
The newly launched projects will offer a range of residential options within a low-density community. Apartments at Özel Residences start from 132 square meters, while units at Özel Villas start from 247 square meters. Green and landscaped areas will occupy a significant portion of the development's total area.
Polaris Homes said it has worked with a number of partners on the projects' architectural design, which incorporates glass façades and landscaped surroundings.
The projects will also include a range of services and amenities for residents. The company said it plans to begin deliveries within three years and is offering payment plans of up to eight years.
The launch comes as Egypt's real estate market continues to see demand for integrated residential developments that combine housing with services and community facilities.
