In a new step that reflects its ongoing success and the trust it has earned from clients for its credibility and commitment, Valero Developments announced the complete sell-out of the first phase of its flagship project CITALIA in New Obour City, achieving total contracted sales of EGP 500m. This milestone highlights the company’s success in delivering an integrated project that meets customer aspirations.
Eng. Ahmed Abdelsalam, CEO of Valero Developments, stated, “Within just two days of launching unit allocation for first-phase clients, the project witnessed strong demand and swift contracting — a clear reflection of customer satisfaction and trust in the company’s commitment and project quality. Additionally, Valero has succeeded in delivering a development that combines a prime location, smart architectural design, trusted partners, and flexible payment plans tailored to its target audience.”
He added, “We successfully introduced the EOI (Expression of Interest) system for clients in New Obour City — marking the first time a project in the area has been launched using this approach and receiving such a strong response from customers. The strong client response and remarkable marketing outcomes signal a significant evolution in how customers are interacting with our developments. Moreover, this strong traction reflects the deep trust we have earned in a short period and aligns with our vision to lead a transformative wave in Obour City by delivering a comprehensive and seamless real estate experience.”
Abdelsalam explained that the CITALIA is a fully integrated residential compound located in one of the most strategic locations in New Obour City. The project stretches over 13 acres, with a total targeted sales value of approximately EGP 3.2bn. It includes residential units of various sizes, in addition to a commercial section that serves both the project’s clients and the wider New Obour City community.
He pointed out that a consortium consisting of the consulting engineer firm Sabbour Consulting and Distance Studio Consultants (DSC) has been contracted to oversee quality control and project design. This collaboration with strong entities enhances the project’s investment value and quality.
He disclosed that the company’s ability to deliver fast, high-quality construction enhances customer confidence in its new projects. Today’s buyers are more informed and discerning amid the fierce competition in the Egyptian real estate market.
Success in this environment goes to serious developers who take concrete, practical actions on the ground—giving clients assurance about their investments and guaranteeing timely handover of their units despite market challenges, Abdelsalam concluded.
