Times Developments Launches EGP 3 Billion Avelin Boutique After Completing 30% Before Sales
Times Developments has launched its Avelin Boutique hospitality concept in New Cairo with planned investments exceeding EGP 3 billion, after completing around 30% of construction before formally bringing the project to market.
The Egyptian developer has partnered with hospitality operator Lemon Spaces to manage and operate 150 serviced apartments within Avelin, adding a hospitality component designed to turn part of the development into professionally managed accommodation rather than conventional residential units.
The move comes as Egyptian developers increasingly explore serviced residences and hospitality-managed properties as a way to generate recurring value from real estate while responding to demand for alternatives to traditional hotel accommodation.
30% Built Before the Project Reached Buyers
One of the most notable aspects of the launch is its construction progress.
Times Developments Chairman and CEO Ahmed El Sergany said approximately 30% of construction work had been completed before the project was officially offered for sale.
That puts Avelin into the market with a significant portion of construction already underway, rather than launching entirely from plans.
The company said the progress forms part of its strategy to maintain the targeted construction and delivery schedule.
Avelin extends across 21 feddans in New Cairo’s Fifth Settlement, close to Al Rehab City.
Lemon Spaces to Operate 150 Serviced Apartments
The partnership with Lemon Spaces covers the operation and management of 150 serviced apartments within the project.
The units will use technology-supported hospitality management and operating systems, combining residential ownership with professionally managed accommodation.
Avelin Residence includes one-, two- and three-bedroom apartments alongside duplex units, with the 150 serviced apartments forming a dedicated hospitality component.
For Times Developments, the partnership represents an attempt to expand beyond the traditional developer model by incorporating specialized third-party hospitality operations into the project.
It could also allow owners to treat units as managed real estate assets rather than relying entirely on conventional long-term leasing or resale.
Avelin Combines Residential, Hospitality and Commercial Uses
The wider development consists of Avelin Residence alongside a commercial and administrative component called Mall T Hub, which covers approximately 10,000 square meters.
Times Developments describes the residential element as a “boutique compound,” with around 80% of the total project area allocated to landscaping and green spaces.
Underground parking is planned beneath the buildings, allowing vehicle movement to be separated from pedestrian areas across much of the development.
The developer has brought several design and engineering firms into the project.
ECG, Dar Al Mimar and architect Mohamed Talaat have contributed to the designs and master planning, while Okoplan, led by Dr. Tarek Sobhy, is responsible for landscaping.
Architect Raef Fahmy designed the commercial area, while Hany Saad developed the interior designs for the clubhouse.
Serviced Apartments Target a Different Property Model
The addition of serviced apartments reflects a wider shift in how some Egyptian developers are approaching hospitality real estate.
Instead of building a conventional hotel as a separate asset, serviced residences can combine individually owned real estate with centralized hospitality management.
El Sergany said the company’s move into serviced apartments reflects changes in the hospitality sector and its strategy to maximize the value of real estate assets by incorporating professional hotel management and operations.
The model could also broaden the type of accommodation available in New Cairo, particularly for business travelers and visitors seeking longer stays than those typically associated with conventional hotels.
Tourism Growth Adds Another Dimension
Times Developments is linking the hospitality component to Egypt’s wider plans to expand tourism capacity.
The country is targeting 30 million tourists annually by 2030, alongside plans to increase hotel capacity to around 300,000 rooms.
Serviced apartments could form part of that additional accommodation supply, particularly in Greater Cairo, where tourism growth intersects with demand generated by business travel and longer-term stays.
For developers, the opportunity is also increasingly connected to real estate exports, with professionally managed residences potentially appealing to overseas Egyptians and international investors looking for properties that can be operated rather than left unused.
Payment Plans Extend to 10 Years
Alongside the hospitality partnership, Times Developments has introduced payment plans starting with a 5% down payment, with the remaining value payable over periods extending to 10 years.
Long payment periods have become an important competitive tool across Egypt’s property market, particularly as developers seek to maintain affordability amid higher construction costs and property prices.
For Avelin, however, the more distinctive proposition is the combination of that financing structure with construction already at 30% and a professional operator assigned to the serviced-apartment component.
That combination makes Avelin more than another EGP 3 billion residential launch. Times Developments is testing whether completing a meaningful portion of construction before sales and embedding hospitality operations from the outset can provide buyers with greater visibility over both the physical asset and how part of it will ultimately be operated.