Key Information About Ajna Developments Ajna Developments entered the Egyptian real estate market...
Key Information About Ajna Developments
Ajna Developments entered the Egyptian real estate market in 2019 and operates through residential and coastal projects in New Cairo, Ain Sokhna, and Galala City. Engineer Osama Shalaby chairs the board, while the management structure draws on shareholders with more than 20 years of market experience. The age of the company must therefore be assessed separately from the experience of its shareholders.
The company’s recent portfolio contains three traceable projects: Carnelia, Eastville, and Casacon. Some sources refer to a record of more than 14 projects and over 650,000 square metres of built-up area, but these figures relate to companies and entities associated with the shareholders. No verified capital or market valuation has been disclosed, and no official statement clearly separates completed projects from developments still under construction.
Ajna Developments competes by selecting locations with established demand and assigning planning, construction, consultancy, and marketing responsibilities to specialised firms. The company does not rely on one team throughout every development stage, as different planning, construction, and marketing companies have been appointed. This model may improve oversight, but buyers should examine the contractual responsibility of each partner before purchasing.
About Ajna Developments
Ajna Developments was established in 2019 under the name Ajna Urban Development and Real Estate Development Company. Its operations began with a vision supported by the market experience of a group of shareholders. Engineer Osama Shalaby serves as chairman. The company operates between Ain Sokhna and New Cairo, with a clear focus on location, planning, open spaces, and long-term services.
History and Development of Ajna Developments
The company began its journey by launching Carnelia in Ain Sokhna near Galala City before expanding into New Cairo through Eastville and Casacon. In May 2026, published updates indicated that approximately 90% of the first-phase buildings at Carnelia were nearing completion. The company also targeted the fourth quarter of 2026 for the start of handovers in the first and second phases. Construction progress has therefore become a clearer evaluation factor than the company’s age alone.
Vision and Mission of Ajna Developments
Ajna Developments bases its vision on assessing the potential of each land plot before beginning the design process, then transforming the location into a residential or hospitality environment capable of retaining value over time. Its mission focuses on planning quality, privacy, the relationship between buildings and natural surroundings, and the appointment of external specialists when required. This approach shows that the company relies on specialised partnerships rather than broad promotional claims.
- Construction of the first-phase buildings at Carnelia reached approximately 90% according to updates published in May 2026, providing progress that can be inspected on site.
- The company targeted the fourth quarter of 2026 to begin handing over the first and second phases of Carnelia according to its announced schedule.
- Ajna contracted Egyptian United Company to construct the first phase of Eastville in New Cairo, clearly identifying the responsible contractor.
- The company appointed Sites International to prepare the Carnelia master plan and assigned interior design work to external architectural specialists.
- Ajna partnered with Al Manara to develop and market the fourth phase of Carnelia, reflecting its model of distributing responsibilities among partners.
- The company assigned the commercial and marketing consultancy for Eastville to Front Line rather than managing every function internally.
- Ajna maintained a presence across two main destinations through three traceable projects instead of presenting a wider portfolio with unclear sources.
- Recent information distinguishes the coastal Carnelia project from the company’s New Cairo developments, allowing its geographic expansion to be assessed more accurately.
Ajna Developments Projects
Ajna Developments has a recent portfolio containing three principal projects distributed between Ain Sokhna and New Cairo. The portfolio reflects the company’s move from coastal development into urban residential communities and should be assessed separately from projects linked to its shareholders’ other companies.
- Carnelia Ain Sokhna.
- Eastville New Cairo Compound.
- Casacon New Cairo.
