Good morning, friends, and welcome to the third installment of our special series EnterpriseAM: Destination Sahel. Sahel is at its busiest in the first week of August — It’s when most of our vacation schedules overlap. When most social gatherings and events take place. When finding one square meter on the beach after 3:30pm (or the line of cars waiting to get into certain compounds) would challenge even the patience of Job. Even though it can all feel a bit breathless, it’s a great time to catch up with family and friends, particularly those who are visiting from abroad.

We’ve been fortunate to have attended a handful of the best events on the Coast in the past couple of weeks including the opening of Nobu North Coast at SODIC’s Ogami, the launch of the Azza Fahmy Clubhouse at Ramla, and a delicious six course meal prepared by Chef Kelvin Cheung of Jun’s in Dubai (#7 on the MENA 50 Best 2025). The sunset dinner was part of a ‘Signature Dinner Series’ presented by our friends at Ramla and When We Eat. Beyond the exquisite food with its creative use of local flavors and ingredients, what stood out about the evening was the gathering itself. Small, simple, elegant and relaxed with communal tables, interesting people and warm, friendly conversation accented by the stunning backdrop that is our unparalleled Mediterranean.

Every year we marvel at how much of our life in Cairo gets completely transported to Sahel for the summer. It’s not only possible to work remotely — you can stick to your daily coffee and fitness routine. If you’re a Maadi resident for example, you will appreciate that you can now get a cup of Floating Cups coffee on the beach at Sidi Heneish Village prepared by the same friendly baristas who make your coffee in Cairo. You can grab breakfast at Ratios on the Beach in Almaza, and you can catch a pilates class with some of Maadi’s favourite instructors — including Salma Abdel Salam and Zag — in Diplo.

IN THIS MORNING’S ISSUE- We sat down with our friend Pakinam Kafafi, the CEO of TAQA Arabia to get her take on the Sahel of the future. We give you a rundown on the latest from Modon, take a deep dive into Sahel infrastructure, explore the new ways developers are marketing themselves, and more.

HELLO, MODON…

The wait is over: UAE’s Modon has launched the first offering in the western side of the Ras El Hekma triangle, unveiling the Wadi Yemm area as the first of 17 zones it plans to bring to market.

One-bedroom apartments are priced at an average of EGP 19.9 mn, while seven-bedroom villas are going for an average of EGP 324 mn, with payment plans of up to eight years. Deposits for reservations: EGP 1 mn. The launch was held over a three-day, invite-only event at the site and attended by a select group of Egyptian, Arab, and international investors — no media invited.

The villas on offer in the first phase of Wadi Yemm overlook golf courses, confirming what’ve been told before, while the apartments offer views of either the sea or golf courses. Spanning some 9 mn sqm, Wadi Yemm is expected to house seven luxury hotels, two international-standard 18-hole golf courses, an equestrian center, a water park, an amphitheater, a sports and entertainment zone, and medical clinics.

Modon is selling fully finished units with appliances — and introducing home heating systems for the first time on the North Coast, reflecting the shift toward making the area livable year-round. The units also feature larger-than-average apartment sizes to support permanent residency — a topic we’re exploring in depth in today’s issue.

Considering units are finished and come with appliances, Wadi Yemm prices have come in lower than we expected — but they don’t signal a shift in the market: The initial prices for the Ras El Hekma launch came in below market expectations, according to Ayman Sami, country head of real estate consultancy JLL Egypt. Still, he emphasized that this does not reflect a fundamental shift in pricing strategy on the North Coast, where prices remain high and are still anchored by long-term installment plans — typically stretching 7–8 years, with a few projects offering payment periods as long as 12–13 years.

At least one market watcher disagrees: Pricing landed within expected ranges — and while relatively very reasonable, remains broadly aligned with the top-tier bracket on the North Coast that includes projects like Silver Sands, Ramla, and Ogami, with unit-level differences factored in, according to Abdelrahman El Sayed, a real estate consultant and co-founder of Business Arena for Real Estate Asset Management.

Larger two-bedroom units are not necessarily a trend in the North Coast, with some developers opting to reduce room sizes in their latest offerings, El Sayed said, adding that the market already offers similarly sized townhouses or three-bedroom apartments.

Pricing continues to be driven by FX and rising input costs: This year’s property price increases have been primarily driven by exchange rate fluctuations, Sami said. However, he noted that price hikes have outpaced the EGP’s depreciation, suggesting additional inflationary pressures from rising raw material prices, construction costs, and supply chain-driven inflation.

ALSO ON THE COAST-

#1- Egypt and Qatar are in talks for a potential USD 4 bn investment in a new development in Alam El Roum area, some 50 km west of Ras El Hekma. Meanwhile, Emaar Misr inaugurated its newest hotel in Marassi — the Palace Beach Resort Marassi — with total investments of around EGP 9 bn. The new hotel features 87 rooms and suites, 31 luxury villas, a beachfront restaurant, spa, gym, pool, meeting room, and beauty salon.

#2- The past few weeks have also seen several developers unveil new projects or launch new phases of existing ones. These include the Sky North project by Sky AD Developments, Youd North Coast by Al Ahly Sabbour, and The C by IL Cazar. Meanwhile, Hyde Park launched a new waterside phase of its Sea Shore project, and Talaat Moustafa Group introduced La Cantine Beach Club & Restaurant within its SouthMED project.

#3- A number of real estate developers are now facing a 10% transfer fee on North Coast projects in cases where the landowner is not the developer, capped at EGP 1k per sqm The fees, which were announced last month, will be calculated based on current assessed land value, not the price at the time of purchase or contracting.

Real estate developers are pushing back: Head of the Egyptian Real Estate Council Ahmed Shalaby urged authorities to put in place a clear, practical framework that ensures smooth implementation without harming existing investments or destabilizing the sector. He stressed that any new rules should not be retroactively applied to already delivered projects.

The New Urban Communities Authority is also taking steps to reclaim land from non-compliant developers, starting with the North Coast. A three-month grace period is granted to developers to obtain the required construction licenses; otherwise, land risks will be withdrawn.

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