AJAD Developments Elaya project expansion

AJAD Developments, an Egyptian-Saudi real estate developer, has initiated several strategic moves to support its ‘Elaya’ project in New Heliopolis, East Cairo. The project, which covers approximately 85 acres, is designed as an integrated smart community with a significant focus on open spaces.

To establish the necessary technological foundation, AJAD Developments partnered with Telecom Egypt to develop digital infrastructure using fiber optic networks. This collaboration aims to provide residents with ‘Triple Play’ services, including high-speed internet, landline telephony, and IPTV digital television.

Financially, the company secured a capital increase to EGP 4 billion through a strategic partnership with MG Developments, which acquired a stake in the firm. These funds are intended to support expansion in West Cairo and finance construction for the Elaia project, with EGP 500 million earmarked for construction works during 2026 and 2027. Following ministerial approval of the master plan, construction is scheduled to begin in the second half of 2026, with the first phase expected for delivery by the end of 2029. Additionally, the company is exploring new investment opportunities in Riyadh, Saudi Arabia.