Egypt-based Special Group, in collaboration with Mint Real Estate Assets, has launched a new mixed-use project, 40 Square, in Egypt’s New Administrative Capital (NAC), with a total investment of EGP 7 billion ($139 millon), company officials told Zawya Projects.

The 40-acre development includes 40 buildings comprising 1,477 residential and commercial units, to be built over three phases. The first phase, which includes 386 units, is scheduled for delivery by the end of 2026.

“We’ve completed 30 percent of construction and are relying entirely on self-funding,” said Mohamed Asaad, Chairman of Special Group. The project represents the company’s first foray into real estate development, building on its existing portfolio in construction, infrastructure, and services.

“Diversification has always guided our growth,” Asaad added. “Real estate development is a natural extension, and partnering with Mint brings the expertise needed to structure and plan long-term projects.”

Special Group plans to develop two additional commercial projects in partnership with Mint—one in Sheikh Zayed City and another in New Cairo.

Tamer Erfan, Chairman of Mint Real Estate Assets, described the 40 Square project as a model of sustainable investment. “We see it is an opportunity to redefine traditional real estate investment into a long-term, stable model,” he said.

Mint will oversee the project’s commercial strategy, including marketing, sales, and customer relationship management. Alia El Nagdy, CEO of Mint Real Estate Asset Management, said: “Our role is to ensure the project aligns with how people want to live and invest. This market demands selectivity and long-term thinking.”

El Nagdy added that Mint is targeting EGP 2 billion ($40 million) in sales revenue from the project in 2025.

(1 US Dollar = 50.50 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

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