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Founded 2019
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Ajna Developments is among Egypt's newest real estate companies, founded in 2019 and rapidly becoming one of the fastest-growing players in the sector. The company entered the market with large-scale projects from day one rather than starting with small developments.
The company's distinctive feature is its multi-billion EGP investments despite its recency. The Eastville project alone draws EGP 5 billion in investment, reflecting strong financial capacity for a newly founded company.
The company is led by Osama Shalaby as CEO, alongside a senior management team with deep experience. Ashraf Mansour is a civil engineer with over 27 years in real estate investment, contracting, manufacturing, and trading, and Amr Eid serves as Chief Development Officer with 16 years of experience.
Since its founding in 2019, Ajna has launched two large-scale projects with competitive specifications. Carnelia in Ain Sokhna spans 100 feddans with a 400-meter beachfront, while Eastville in New Cairo's Fifth Settlement spans 20 feddans with EGP 5 billion in investments.
The company has also formed a strategic partnership with Manara to develop the fourth phase of Carnelia in Galala City, reflecting an ambitious expansion strategy from the early years of founding.
Ajna projects span two primary regions: Ain Sokhna on the Red Sea, and New Cairo. This split serves both summer-home and primary residence buyer segments.
You can browse Ain Sokhna compounds to see the Carnelia coastal project, plus New Cairo compounds for the Eastville residential project.
The Ajna portfolio includes 2 projects available through CompoundGate, both with large-scale specifications despite the company's recency.
In Ain Sokhna, the portfolio includes Carnelia Ain Sokhna on the Red Sea, spanning 100 feddans with a 400-meter beachfront — an exceptional area for coastal villages.
In New Cairo, the portfolio includes EastVille New Cairo in the Fifth Settlement, with investments exceeding EGP 5 billion across 20 feddans. This investment scale reflects the company's ambitions.
The most distinctive advantage of Ajna is its large investment scale despite recency. EGP 5 billion in one project and 100 feddans in another reflect strong financial capacity from day one.
The second advantage is the management team's experience. Team members bring combined expertise exceeding 40 years in real estate investment and contracting. This expertise offsets the company's recency.
The third is positioning in growth destinations. Both Ain Sokhna and New Cairo are among Egypt's most sought-after real estate investment regions, preserving the investment value of Ajna projects.
When was Ajna Developments founded?
Ajna Developments was founded in 2019 and has become one of Egypt's fastest-growing developers thanks to large-scale projects from its early years.
Is Ajna a trusted developer to invest with?
Yes. Despite the company's recency, its multi-billion EGP investments and the decades-long experience of its management team reflect strong financial and managerial capacity.
Where are Ajna projects located in Egypt?
Ajna projects span two regions: Ain Sokhna (Carnelia spanning 100 feddans with 400m beachfront), and New Cairo (EastVille at EGP 5 billion investments).
What are Ajna's flagship projects?
The two flagship projects: Carnelia in Ain Sokhna at 100 feddans with 400-meter beachfront, and Eastville in New Cairo at 20 feddans with EGP 5 billion in investments.
What distinguishes Ajna from other developers?
The combination of the company's recency (founded 2019) and the large investment scale (billions of EGP per project) — a rare model among newcomers to the Egyptian market.
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