During a press conference held at the Nile Ritz Carlton Hotel, Special Group for Trade & Investment and Mint Real Estate Asset Management announced the launch of 40 Square, a new residential development in the New Administrative Capital (NAC). The announcement follows a strategic agreement signed in March, under which Mint will manage all Special Group’s real estate assets, beginning with this flagship project.
Located in Residential Investors District, 40 Square spans 40 acres in a well-connected area near the Green River Park, the government district, and other major infrastructure. The development features smart residential units, generous open spaces, and integrated services designed around long-term livability and functionality. The project includes a mix of apartments offerings, totaling approximately 1477 units. The first phase is scheduled for completion in 2026, with total investments for the project expected to exceed 7 billion EGP.
This marks Special Group’s first foray into real estate development, building on its longstanding expertise in construction, infrastructure, and service delivery. The move reflects a shift toward longer-term value creation across the Group’s asset base.“Diversification has always been central to how we grow,” said Dr. Mohamed Asaad, Chairman of Special Group. “Our experience spans construction, healthcare, and industrial services real estate development is a natural extension of that strategy. But entering this market responsibly means more than building it requires structure, planning, and long-term thinking. This is why we partnered with Mintto bring that expertise and discipline into every stage of the development process.”
Mr. Tamer Erfan, Chairman of Mint Real Estate Assets, said: “This partnership represents a strategic step that perfectly aligns with our vision of developing projects that offer real and sustainable investment value especially in light of current market challenges. We see 40Square as more than just an architectural development; it is an opportunity to redefine traditional real estate investment into a long-term, stable model, supported by intelligent plans that align with actual implementation and operational phases. This is the qualitative difference Mint aims to bring to the market.
Mint will lead all commercial aspects of the project including strategic planning, marketing, CRM, and sales ensuring that Square 40 is not only launched successfully but positioned for long-term performance. “Today’s market is no longer defined by supply it’s shaped by selectivity, affordability, and the need for smart positioning,” said Alia El Nagdy, CEO of Mint Real Estate Asset Management. “Square 40 enters the market at a moment of opportunity and constraint. Our role is to ensure the project is aligned with how people want to live, invest, and grow. We’re not here to react to the market we’re here to anticipate it.” According to El Nagdy, the launch comes at a time when the NAC continues to attract long-term investment, yet the broader real estate landscape faces growing pressure from inflation, cost volatility, and shifting demand. Projects that will endure are those built around sound fundamentals and a clear operating model both of which define Square 40’s approach.
The launch of Square 40 sets the tone for how both companies see the future of real estate development: grounded in strategy, built on operational clarity, and driven by long-term performance. As Special Group expands its footprint in the sector, and Mint continues to shape how real estate is managed in Egypt, this partnership represents a new model for how to build value that lasts.
