Najm Developments unveils VELN project with investments surpassing EGP 1.6bn during a grand ceremony
Najm Developments announced the launch of its latest project, VELN, with total investments exceeding EGP 1.6bn in the heart of New Cairo. The project was unveiled during a grand event attended by a select group of business partners and prominent figures in the real estate sector.
Eng. Wael Ramadan, Chairman of Najm Developments, highlighted that the project occupies a prime strategic location. Covering 3,772 sqm in the heart of El Yasmin district in New Cairo, it is just a minute away from North 90th Street and PetroSport Club, placing it at the center of key traffic and population routes, and making it a highly attractive hub for both commercial and administrative investment.
He added, “VELN embodies Najm Developments’ vision of launching distinctive projects that offer a comprehensive investment and operational experience. The project features modern architectural design, open views, and a variety of spaces suitable for different commercial and administrative activities, ensuring a high investment return for clients.”
Ramadan explained that the project provides a full range of services and amenities, including an entertainment area, secure two-level underground parking, 24/7 CCTV monitoring, a complete fire protection system, high-speed internet, an integrated sound system, regular maintenance, six elevators and escalators, and a dedicated prayer area. These features ensure an ideal working and operational environment for all activities within the development.
VELN comprises two basements, a ground floor, and three repeated floors, with unit sizes varying to include commercial units on the ground floor ranging from 28 to 137 sqm, commercial units on the first floor from 30 to 80 sqm, clinics from 21 to 79 sqm, and administrative offices ranging between 29 and 79 sqm.
The company’s chairman announced that the project is set for handover within four years, with an initial sales target of EGP 900m, forming part of a broader plan to achieve total sales of EGP 3bn this year.
He disclosed that the company plans to direct significant construction investments next year, alongside expanding into areas of New Cairo and other new cities such as Obour and El Shorouk.
He emphasized that the company owns a prime land portfolio in New Cairo suitable for implementing commercial and administrative developments and intends to soon enter major residential developments in the form of fully integrated residential compounds.
He further pointed out that the project is being executed in collaboration with a group of success partners: Criteria Design Group as the design consultancy, Kelma Development Consulting as the development consultant, Egymap for Commercial Property Management for managing commercial assets, and Reco for Real Estate Entertainment Consultants & Operations for managing and operating the entertainment and marketing aspects of the project.
All of these are strong entities with extensive experience, reflecting Najm Development’s commitment to carefully and precisely selecting its success partners, Ramadan said.
The VELN compound marks the beginning of a new phase in the company’s strategy, aimed at delivering developments that strike a balance between investment value and a fully integrated operational experience, thereby strengthening Najm Development’s position as one of the leading developers in New Cairo over the coming years.
The project launch celebration was performed by the star Tamer Ashour, in the presence of prominent figures from the arts, business leaders, social icons, and the company’s clients, creating a festive atmosphere that brought joy and excitement to all attendees.
