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VIE Communities launches $929m VIE HALO mixed-use project in New Cairo

Egyptian-Emirati developer VIE Communities has started selling VIE HALO, a 200,000 sq m commercial, office and hospitality destination on North 90th Street in New Cairo.
Rendering of VIE HALO, VIE Communities' mixed-use development at Zomra East in New Cairo, with terraced buildings, glass bridges and a glazed towerRendering of VIE HALO, VIE Communities' mixed-use development at Zomra East in New Cairo (Image source: VIE Communities)

Cairo, Egypt - Egyptian-Emirati developer VIE Communities has launched VIE HALO, its second project in Egypt, a mixed-use scheme in New Cairo with planned investment of up to $929 million (EGP 50 billion).

The developer said sales during the early-launch phase have already passed $111 million (EGP 6 billion).

VIE HALO will cover 200,000 square metres within Zomra East, a development on New Cairo's North 90th Street. Its components are commercial, office, hospitality, medical and entertainment facilities.

Shops, restaurants and cafés are planned next to the office buildings, where spaces will start at 33 sq m and go up to 4,065 sq m.

A hospitality tower of up to 20 floors will hold branded serviced residences carrying an international hospitality brand, which the developer has not named. Commercial units in the scheme will measure between 80 sq m and 546 sq m.

The project's website also lists a sky hotel, a sky park and a social club among the elements of the destination.

Rendering of the hospitality tower and commercial buildings around a landscaped plaza at VIE HALO in New CairoThe hospitality tower and commercial buildings planned at VIE HALO, which will offer commercial units of 80 sq m to 546 sq m (Image source: VIE Communities)

VIE Communities has not given a construction timetable or an expected completion date for VIE HALO, and has not named its main contractors.

Haitham Samir, CEO of VIE Communities, said the project is part of the company's strategy of building integrated mixed-use destinations that serve residential, commercial and hospitality demand.

VIE HALO is being delivered under a strategic partnership with Nations of Sky, which is the real estate development arm of Future of Egypt for Sustainable Development.

Tarek Soliman, Vice Chairman, said the launch comes after the company made its debut in the Egyptian market with VIE Collective, a 186-feddan development in New Cairo.

The company was set up by an Egyptian-Emirati investment alliance made up of Future of Egypt for Investment and Development, Glamour Jewellery and Damas Real Estate. The partners have announced total investments of $2.8 billion (EGP 150 billion).

Nations of Sky has 11 real estate projects under development on the North Coast and in East and West Cairo. They include Jirian, Batal on the North Coast, Zomra East in New Cairo, the ORB serviced residences in Sheikh Zayed and SkyRidges in East Cairo.