Nakheel Developments, a subsidiary of Dubai-based Nakheel Group, has unveiled its latest project known as Nakheel New Cairo. The new development covers 3.4 million square meters in the eastern Cairo suburb of New Cairo, and is Nakheel's first project in Egypt.

Nakheel New Cairo is a mixed-use development that will feature residential, commercial, and hospitality components. The development is set to have around 20,000 residential units ranging from apartments, villas, and townhouses, with expected pricing between EGP 750,000 to EGP 3.5 million. The development will also have approximately 1 million square meters of commercial space that will include retail, educational, medical, and sports facilities. Meanwhile, the hospitality component will feature a 5-star hotel and serviced apartments.

One of the highlights of the Nakheel New Cairo development is the largest indoor botanical garden in Egypt, with around 200,000 square meters of landscaped gardens. The botanical garden will be surrounded by a central retail area that will have a luxury shopping mall with a variety of international brands.

Nakheel is investing around EGP 125 billion ($8 billion) in the Nakheel New Cairo development, and the project is expected to create around 250,000 job opportunities during the construction and operational phases.

Nakheel New Cairo is strategically located near Cairo's new administrative capital, which is set to become the seat of the Egyptian government. The location is also near Cairo's main airport, making it accessible to both domestic and international travelers.

The Nakheel group has been operating in Egypt since 2017, with the development of the Mall of Egypt in Cairo. The company's entry into the organic farming industry with a new project in West Cairo called Madi City also solidifies its involvement in the country's market.

The Nakheel New Cairo development is expected to play a significant role in Egypt's economic growth and development, providing a boost in the real estate, commercial, and hospitality sectors. The project is also set to showcase the potential of the eastern Cairo suburb of New Cairo, as it continues to attract both local and international investors.