Arab Finance: VIE Communities has launched VIE HALO, its second project in the Egyptian market, with total investments of up to EGP 50 billion, according to an emailed press release.

Located in New Cairo, the development project has already recorded sales exceeding EGP 6 billion during its early-launch phase.

VIE HALO spans 200,000 square meters and integrates commercial, administrative, hospitality, medical, and entertainment components in one integrated development.

The development scheme also features a hospitality tower comprising branded serviced residences under an internationally recognized hospitality brand, rising to 20 floors.

This comes amid growing demand for mixed-use developments that bring together various activities and services in one destination, delivering added value while responding to evolving lifestyle and business needs.

Haitham Samir, CEO of VIE Communities, commented: "We have been keen to design the project to introduce an advanced concept of living, working, and entertainment by combining design quality, diverse components, and operational efficiency, delivering an integrated experience and sustainable value."

Samir added: "The project's sales launch comes as part of our expansion plans, supported by its strategic location and integrated components, which give it a competitive edge in New Cairo's mixed-use development market."

For his part, Tarek Soliman, Vice Chairman of VIE Communities, said: "The launch of VIE HALO builds on the success achieved by the company since entering the Egyptian market through its first project, VIE Collective, which spans 186 feddans in New Cairo and witnessed strong demand following the launch of its first phase.”