Key Information About Atric Developments Atric Developments began operations in 1998 under the name...
Key Information About Atric Developments
Atric Developments began operations in 1998 under the name Al Asreya Company, then continued expanding in the Egyptian market through residential and coastal projects across El Shorouk City, the New Administrative Capital, and Ain Sokhna. The company’s presence has not depended on a large project count, but on developing medium-sized projects with a clear focus on construction quality and delivery commitments.
Its announced portfolio includes three main projects, ranging from 20 acres at Boho to 45 acres at Boardwalk, while Divina Gardens covers 25 acres and includes 190 villas. Published information also refers to investments of approximately EGP 7 billion, although the announcement date and original source should be identified before using this figure.
Atric Developments follows a strategy based on selected locations rather than rapid geographic expansion, while diversifying its unit mix across apartments, villas, chalets, twin houses, and townhouses. This approach may strengthen management control over construction and quality, although the company’s evaluation remains closely linked to the performance of a limited number of projects compared with developers that manage broader portfolios.
About Atric Developments
Atric Developments was established in 1998 under the name Al Asreya Company, giving it more than 25 years of experience based on its foundation date. The company is chaired by Engineer Ashraf Naguib, while its known operations are concentrated in El Shorouk, the New Administrative Capital, and Ain Sokhna. This geographic footprint shows a gradual move from permanent residential development toward a broader mix of residential and coastal products.
History and Development of Atric Developments
The company’s journey began in 1998, followed by Divina Gardens in El Shorouk as a major milestone comprising 190 villas across 25 acres. Atric Developments later expanded through the 45-acre Boardwalk project in the New Administrative Capital and the 20-acre Boho development in Ain Sokhna. Delivering Divina Gardens one year ahead of schedule remains the clearest published indicator of execution efficiency and schedule discipline.
Vision and Mission of Atric Developments
Atric Developments focuses on delivering upscale homes in locations close to major roads and essential services, while maintaining construction progress and adapting the unit mix to each destination. Its practical direction appears more closely connected to controlling project scale and handover quality than to rapid quantitative expansion, while clearer documentation is still needed regarding contractors, consultants, and property management companies.
- The company delivered Divina Gardens in El Shorouk City one full year ahead of its contractual handover date, which is the clearest published achievement reflecting its ability to manage construction schedules.
- Atric Developments has built a portfolio across three different locations, giving it direct experience in East Cairo housing, the New Administrative Capital, and coastal development in Ain Sokhna.
- The company allocated 45 acres to Boardwalk, with a unit mix covering apartments and villas, reflecting its move from a villa-focused product toward a broader residential offering.
- Boho was planned across three levels on 20 acres with a 250-metre beachfront, supporting sea views and improving the visual exposure of most units.
Atric Developments Projects
The announced Atric Developments portfolio includes three main projects with a combined area of approximately 90 acres. These developments are distributed between urban housing and coastal real estate, with clear differences in unit types and target customer profiles.
- Boardwalk New Capital.
- Boho Ain Sokhna.
- Divina Gardens El Shorouk.
