Karnak Real Estate Developments announced that it has obtained ministerial decree No. 998 for its Belva project, which spans over 18.5 acres in one of the finest compounds in Sheikh Zayed City. The company is currently preparing to commence construction works, in line with the scheduled timelines for constructions and delivery.
Eng. Mohamed El-Basha, Chairman of Karnak Real Estate Developments, affirmed that obtaining the ministerial decree reflects the company’s full compliance with all required standards and regulations, while also reinforcing clients’ and investors’ confidence in the project’s adherence to all legal procedures.
He praised the support provided by the New Urban Communities Authority in expediting the issuance of the decree, reflecting the state’s commitment to encouraging real estate investment and facilitating the work of serious developers.
He explained that Belva is a fully integrated compound offering clients a new lifestyle concept characterized by tranquility, green spaces, and unique architectural design with low population density. The project enjoys a prime strategic location, just minutes away from Hyper One, Dandy Mall, the Smart Village, Al Ahly Club, and Zed Park. It is also considered the largest residential compound in the Green Revolution area in Sheikh Zayed.
El-Basha added that the project was designed by architect Raef Fahmy, one of the top architectural firms in Egypt and the Middle East. The compound is distinguished by its very low built-up ratio of only 19%, with the remainder dedicated to green spaces and landscaping.
Additionally, the compound includes a clubhouse spanning 6,500 sqm, two swimming pools, five sports courts, and residential units ranging in size from 90 to 267 sqm, distributed across 21 buildings with a ground floor plus six upper floors.
The development also features a wide range of amenities, including a mosque, a jogging and cycling track, a shopping mall covering 13,000 sqm, underground parking garages, electric vehicle charging stations, car cleaning services, smart gates and smart building access, along with 24/7 security and surveillance services.
The company’s chairman revealed the company’s plan to launch a second phase of the project soon, which will feature premium units at competitive prices and flexible payment plans designed to meet the aspirations of target customers. This phase will be rolled out following the ministerial decree and in parallel with preparations to strongly kick off construction works in the coming period.
He concluded that the company has more than 30 years of experience in real estate development, with a diversified portfolio that includes projects such as Miami City, Montazah Elegance, and Smouha Elegance in Alexandria, as well as Vitali Mall in New Cairo’s Fifth Settlement. This reflects the diversity of the company’s investment activities and its presence in multiple areas to meet the needs of its clients.
