Arab Finance: VIE Communities, an Emirati-Egyptian joint venture (JV), has launched two flagship projects in New Cairo, with a total value exceeding EGP 150 billion, according to an emailed press release.
The alliance comprises Future of Egypt for Investment and Development, Glamour Jewellery, and Damas Real Estate.
One of the development schemes, Vie Collective, is a mixed-use project spanning 186 feddans in a strategic location directly on the Middle Ring Road. It is backed by investments of EGP 100 billion and is expected to generate sales exceeding EGP 200 billion.
Meanwhile, Vie Halo is being implemented in partnership with Nations of the Sky within the ZOMRA East project in New Cairo.
This project includes commercial, administrative, hotel, medical, and social facilities to serve business and residential needs. It is expected to record sales exceeding EGP 90 billion, while planned investments surpassed EGP 50 billion.