In a new step that underscores the depth of Arab cooperation in real estate development, Al-Rashed Developments has announced the launch of its latest project, “JINAN,” located in New Sheikh Zayed City, in partnership with Sheikh Jaber bin Saeed Al-Harbi, Owner and Chairman of Venecia Resorts & Hotels in the Kingdom of Saudi Arabia.
The project represents a qualitative leap in the concept of upscale residential communities, combining luxury, sustainability, and functional integration within a living environment that is friendly to both people and nature.
Eng. Sami Wagdy Limonah: “JINAN offers real value to the Egyptian family”
Eng. Sami Wagdy Limonah, Chairman of Al-Rashed Developments, stated that the launch of JINAN crowns the company’s journey, which began in Jeddah in 2014 before expanding into the Egyptian market in 2018, adding:
“We at Al-Rashed feel immense joy whenever our efforts intersect with any Arab nation—especially the Kingdom of Saudi Arabia, where our journey began. Today’s partnership with Mr. Jaber Al-Harbi is a natural extension of the brotherhood and shared success between the two sister nations.”
The Chairman explained that the new project covers 47,000 square meters in New Sheikh Zayed City and is the first villas-only compound of its kind in the area, carefully designed to offer the Egyptian family a fully integrated living experience.
He added:
“The goal of JINAN is to provide real value for the Egyptian family. That’s why we ensured the project would be environmentally friendly and achieve 100% safety standards. In collaboration with DOSOR Engineering Designs, led by Eng. Shady Abdel Hassan, we focused on making green spaces the soul of the place—not just visual décor—so residents can enjoy a healthy and comfortable lifestyle in a natural and secure environment.”
Eng. Limonah also confirmed that JINAN comprises 10 luxurious palaces with rare spaces in the October–Zayed area, along with flexible payment plans. The project will also include a luxury hotel currently under negotiation with international brands and a fully equipped Business Hub offering meeting halls, 5G internet, and EV charging stations.
Sami Wagdy: Our 2030 Vision is to Build True Value—Not Just Units
Eng. Limonah emphasized that Al-Rashed’s 2030 vision focuses on expanding projects that provide meaningful value to Egyptian society, saying:
“We don’t see real estate development as merely selling units—it’s about crafting a complete lifestyle. JINAN reflects the balance between architectural beauty, green spaces, and smart technologies that serve the family in every aspect of daily life.”
He added that the project targets sales exceeding 2 billion EGP during its implementation phases, noting that the inclusion of a luxury hotel and Business Hub strengthens the idea of an “integrated city” offering both leisure and business amenities.
He concluded:
> “The Saudi-Egyptian partnership we proudly celebrate today sends a clear message: the Egyptian market needs strong economic alliances capable of building a regionally and globally competitive real estate future. JINAN is the first step on that path.”
