Times Developments Launches Avelin Boutique Hospitality Project with Lemon Spaces

Times Developments, a real estate development company, has announced the launch of its Avelin Boutique project in partnership with Lemon Spaces, a company specializing in the management and development of modern hospitality spaces.

The partnership aims to operate and manage 150 serviced apartments within Avelin in New Cairo, offering an innovative residential and hospitality experience that combines advanced infrastructure with modern, technology- and AI-driven hospitality solutions.

The project, with total investments exceeding EGP 3bn, is expected to enhance its value proposition and meet the growing demand for luxury hospitality properties.

The partnership comes as Times Developments has completed 30% of Avelin’s construction ahead of its official market launch, providing customers and investors with greater confidence in the project’s delivery timeline.

The early progress also reflects the company’s strong financial position and commitment to meeting construction schedules and contractual obligations.

Avelin is strategically located in the heart of Fifth Settlement in New Cairo, adjacent to Al Rehab city. The development is just two minutes from Al Rehab 1 and North 90th Street, as well as the highway, providing convenient access to four major roads in the area.

Avelin Boutique stretches over 21 feddans and comprises two main components. The first is residential properties, Avelin Residence, which offers a range of luxury units designed to meet different needs, including one-, two-, and three-bedroom apartments, as well as duplexes.

It also includes serviced apartments, which form the focus of the agreement with Lemon Spaces. The second component, Mall T Hub, has a commercial and administrative focus and covers approximately 10,000 sqm, offering residents and visitors an integrated shopping and entertainment destination.

Avelin Residence was designed as a luxury boutique compound, offering comprehensive services to a limited number of residents to enhance privacy and quality of life.

Green areas and landscaping account for around 80% of the project’s total area, while fully underground parking is provided for all buildings, creating safe pedestrian pathways throughout the development and allowing children and families to move freely away from vehicular traffic.

Times Developments has partnered with a select group of leading designers and consultants from Egypt and the Middle East for the project. The master plan, façades, and engineering consultancy were undertaken by leading firms ECG and DMC, along with MTA led by architect Mohamed Talaat.

Okoplan, led by Dr. Tarek Sobhy, handled the site planning and landscaping, while architect Raef Fahmy designed the commercial area. Architect Hany Saad was responsible for the interior design of clubhouse.

Coinciding with the launch of the new hospitality partnership, Times Developments also announced flexible payment facilities and new payment plans designed to accommodate a broad range of investors.

Payment plans start with a 5% down payment, while the remaining balance can be paid in installments over up to 10 years, offering flexible options for both investors and homebuyers in New Cairo.

Ahmed Elsergany‏ – ‏Chairman and CEO Times Developments- expressed his satisfaction with the strategic partnership with Lemon Spaces, which he said is reshaping the concept of luxury living and modern hospitality in the heart of New Cairo through Avelin.

He said that Avelin Residence aligns with Egypt’s efforts to promote real estate exports and support the tourism sector. The project reflects a thorough assessment of the requirements of Egypt’s real estate and tourism markets, amid the government’s efforts to attract 30 million tourists and achieve its ambitious national target of increasing hotel capacity to 300,000 rooms by 2030.

Elsergany noted that the company aims to maximize the utilization of real estate assets by converting them into fully integrated hospitality-managed properties.

He concluded that the serviced apartment industry is expanding rapidly worldwide and has emerged as one of the fastest-growing segments of the hospitality sector, with the market projected to reach between $266bn and $434bn over the next decade.