Rock Developments announced its first expansion in 2024 with the launch of Rock White Compound in the heart of New Heliopolis City, with investments amounting to EGP 6 billion.
The announcement was made during a press conference attended by the company’s leadership and a number of media representatives and journalists.
Engineer Emad Doss, Managing Director of Rock Developments, stated that Rock White is part of the company’s expansion plan, previously announced, which includes five major projects in East Cairo to be launched in 2024 with total investments exceeding EGP 10 billion.
He added that Rock Developments will handle all development, construction, and marketing for Rock White, a project being developed in partnership with the National Asset Management and Investment Company.
The Rock White Compound spans 25.52 feddans in the heart of New Heliopolis City, just one minute from the Suez Road and directly on the Baron Axis. The project enjoys proximity to Cairo International Airport and several strategic health, education, and sports facilities.
Doss explained that the building footprint will not exceed 10% of the total land area, with a total built-up area of 116,000 sqm. The remaining space will be dedicated to commercial services, green areas, gardens, and landscaping, with over 30,000 sqm allocated to green spaces and gardens.
The residential component of Rock White consists of 30 buildings with a total of 770 fully finished units, ranging in size from 117 to 236 sqm, offering a variety of layouts to meet the needs and tastes of different customers. The commercial section will include a supermarket, bank, pharmacy, various retail stores, a sports yard (tennis and football), and a children’s play area.
Rock Developments aims to begin delivering units in Rock White by December 2028, with the project to be released in four sales phases.
For his part, Sherif Sami, Chairman of the National Asset Management and Investment Company, said that Rock Developments is one of the leading developers in the real estate sector, and cooperation with the company will contribute to delivering a project that adds real value to the market. He noted that Rock White is being developed on a prime plot of land owned by the National Asset Management and Investment Company in the ninth district of New Heliopolis City.
He explained that the National Asset Management and Investment Company is an Egyptian joint-stock company owned by the Holding Company for Construction and Development, affiliated with the Ministry of Public Enterprise Sector. Established in 2008, it has expanded into real estate asset management through property investment, valuation, marketing, and providing various services.
Sami added that the company had announced its intention to partner with a distinguished and experienced developer with a strong track record. Several partnership offers were submitted, and Rock Developments was selected based on its expertise and the strength of its technical and financial proposal.
In a related context, Doss stated that Rock Developments is targeting sales of around EGP 4 billion from its projects in 2024, after achieving total sales exceeding EGP 3 billion in 2023.
Source: Youm7