Residence Developments is one of the Egyptian real estate companies specialized in developing premium coastal and hospitality destinations along the Red Sea coast. The company was founded as a dedicated real estate development arm under the leadership of Eng. Essam Mansour as Chairman of the Board, and Mr. Wael El Shahed as Chief Executive Officer, launching its first project officially in 2011 after extended years of operating in construction and contracting dating back to 1996.
According to circulating real estate reports, the company holds an investment portfolio of around EGP 750 million distributed across 3 projects in the hospitality and tourism sector, all concentrated within Ain Sokhna on the Red Sea coast, with residential unit prices starting from EGP 8,025,000 at its flagship Aroma Village.
About Residence Developments
Residence Developments was established on the foundation of more than three decades of expertise in construction and contracting, with its founders entering the Egyptian market in 1996 through diverse projects spanning the residential, hospitality, commercial, and medical sectors, before formally establishing the current real estate entity in 2010 under a leadership team that combines real estate expertise with hospitality management, and launching its first project in 2011.
The company operates under the leadership of Eng. Essam Mansour as Chairman of the Board, who brings over 25 years of experience in the real estate and tourism sectors, alongside Mr. Wael El Shahed as Chief Executive Officer, who carries close to 23 years of experience in real estate development.
He participated in establishing the entity as part of a select team of executives, gradually progressing through operational roles to his current position.
Residence Developments
The company’s activities are organized around three main pillars: developing seaside tourist villages along the Ain Sokhna coastline, investing in hotel facilities and seasonal residential units, and providing specialized hospitality management through operational oversight of Elite Residence Tulip & Aqua Park.
This vertical integration enables the company to deliver a comprehensive real estate and tourism experience to its clients rather than confining itself to the traditional developer role.
Circulating real estate reports indicate that the company’s total investment volume stands at around EGP 750 million, distributed across 3 main projects all located in Ain Sokhna as a pivotal tourist destination on the Red Sea coast.
These range from a comprehensive coastal residential village to a hotel facility and a resort featuring an aqua park, reflecting the company’s specialization in the hospitality and tourism development sector rather than pursuing geographic expansion outside this focus.
Residence Developments Board of Directors
The board of Residence Developments brings together a select team of executives who combine real estate development experience with hospitality management expertise. Eng. Essam Mansour serves as Chairman of the Board with over 25 years of experience across the real estate and tourism sectors, including the leadership of Aroma Village development as the company’s flagship project.
He also holds senior positions across an interconnected group of sister companies, serving as Chief Executive Officer of Akam Developments, Chairman of Akam AlRajhi Developments, and Chairman and board member of Elite Residence Tulip & Aqua Park.
Mr. Wael El Shahed serves as Chief Executive Officer of Residence Developments, with close to 23 years of experience in real estate development that he commenced immediately after his graduation.
He earned several professional certifications and business administration diplomas before participating in the establishment of Residence Developments in 2010, then progressed through internal roles starting with the commercial sector, advancing to board membership and Chief Commercial Officer, and culminating in his current position as CEO.
Residence Developments’ Real Estate Philosophy
Residence Developments approaches real estate development as a comprehensive social and urban responsibility rather than a mere construction process, building on the principle of quality-driven development that extends a project’s useful lifespan through continuous maintenance services and specialized hospitality management.
The company’s development approach is grounded in collaboration with leading consultants and engineers, the careful selection of strategic locations along coastal fronts, and strict adherence to modern building standards that meet international specifications in the hospitality and tourism sector.
Residence Developments Vision
Residence Developments aims to deliver an unparalleled residential and tourist experience while establishing high standards of living and elevating the family vacation experience.
The company’s focus centers on presenting projects that combine design excellence with service innovation, creating premium accommodation and leisure environments that meet the aspirations of a wide segment of clients across the Egyptian market and vacationers seeking integrated coastal destinations.
Residence Developments Goals
The company operates according to a strategic framework of goals that shapes its roadmap within the real estate and tourism market, including:
- Delivering sustainable hospitality and residential projects built to hotel-grade standards in Egyptian coastal destinations.
- Full commitment to construction and delivery timelines at every project stage.
- Enhancing the investment value of units through property management and hospitality operations services.
- Expanding the project portfolio to include hotel facilities and resorts alongside seasonal residential units.
- Building long-term client relationships founded on transparency in pricing and payment systems.
- Providing an integrated tourist experience that combines accommodation with leisure through diverse facilities such as aqua parks and hotel resorts.
Residence Developments’ Strategic Partnerships
Residence Developments relies on a network of strategic alliances and institutional partnerships that support its capacity to execute hospitality and tourism projects to the required standards, distinguishing it from other real estate developers operating in the Egyptian hospitality sector. Among the most notable partnerships are:
- Institutional Alliance with Akam Developments Group: through the shared leadership of the Chairman of the Board, who also serves as CEO of Akam Developments and Chairman of Akam AlRajhi Developments, creating an interconnected institutional ecosystem across the three entities.
- Hospitality Partnership with the Tulip Brand: through the development and operation of Elite Residence Tulip & Aqua Park under specialized hospitality management, providing the company’s hotel units with a recognized operational umbrella in the hospitality sector.
- Collaboration with Leading Consultants and Engineers: in the design and master planning stages of Aroma Village Ain Sokhna, ensuring a high-quality master plan and a variety of unit types ranging across studios, chalets, duplexes, and villas.
- Engagement of Specialized Construction Firms: leveraging the founders’ accumulated expertise in this field since 1996, ensuring adherence to the construction and finishing standards stated in purchase agreements.
For inquiries about available investment partnerships with Residence Developments, or for details on the hospitality management of Elite Residence Tulip & Aqua Park, you can reach out via the Residence Developments hotline +201118183030 to receive detailed information from the sales team.
Residence Developments’ Track Record
Residence Developments’ track record is concentrated within Ain Sokhna as a strategic destination for resort and tourism project development. The following table outlines the company’s current project portfolio:
| Project |
Location |
Type |
Status |
| Aroma Ain Sokhna Village |
Ain Sokhna |
Coastal Residential & Touristic |
Delivered |
| Aroma Hotel |
Ain Sokhna |
Hotel Facility |
Operating |
| Elite Residence Tulip & Aqua Park |
Ain Sokhna |
Hotel Resort & Aqua Park |
Operating |
The project portfolio reveals a specialized development strategy concentrated within a single geographic region, with projects diversifying among seasonal residential units, hotel facilities, and aquatic entertainment venues, creating an integrated tourism ecosystem in Ain Sokhna.
Residence Developments’ Projects on Our Website
Detailed information about Residence Developments’ key projects is available within the real estate projects directory on the Real Estate Capsule website, with continuous updates to price lists, payment plans, and available units, as follows:
Residence Developments’ Projects in Ain Sokhna
Aroma Ain Sokhna Village
Aroma Ain Sokhna Village: Aroma Village stands as the company’s flagship project in Ain Sokhna, situated in a strategic position along the Ain Sokhna road near Tulip resort. The project offers a variety of units ranging across studios, chalets, duplexes, and villas, with areas starting from 80 sqm for smaller chalets and reaching up to 250 sqm for villas. The payment system starts with a 10% down payment and installments over 7 years, with prices beginning from EGP 8,025,000 for available units.
Aroma Hotel: Represents the company’s hospitality arm in Ain Sokhna, offering an integrated hotel experience that caters to village guests and vacationers seeking short stays. The hotel operates alongside the residential units of Aroma Village within a single integrated tourism ecosystem that blends seasonal accommodation with full hotel services.
Elite Residence Tulip & Aqua Park: Falls within the company’s specialization in elite resort hospitality management.
The project delivers a comprehensive family vacation experience that combines premium hotel accommodation with aquatic entertainment facilities through an aqua park designed for all ages, operating under the umbrella of the Tulip hospitality brand.
For inquiries about the latest prices and to schedule a unit tour for any of Residence Developments’ projects, you can contact the Residence Developments sales number +201118183030 to receive price quotes and payment schedules.
Investment Advantages in Residence Developments’ Projects
Investing in Residence Developments’ projects offers distinctive opportunities for buyers and investors in the tourist real estate sector, drawing on the project locations within Ain Sokhna as one of Egypt’s leading coastal real estate destinations and the hospitality-driven nature of the product. The most notable investment advantages include:
- Strategic Coastal Location: All projects are concentrated at the Kilo 38 mark of the Ain Sokhna road near major tourist resorts, ensuring continuous seasonal demand for rental units.
- Diverse Payment Plans: Installments at Aroma Village extend up to 7 years with a down payment not exceeding 10% of the unit’s value, alongside a 2-year payment plan with immediate handover.
- Immediate Delivery Option: With Aroma Village reaching advanced delivery stages, ready-to-move units are available, reducing execution-delay risks and enabling early use of the unit for residential or rental purposes.
- Seasonal Rental Returns: Specialized hospitality management through the Tulip brand provides an opportunity to enroll units in an organized rental program, particularly with the growing demand for coastal units in Ain Sokhna.
- Residential and Recreational Integration: The presence of Elite Residence Tulip & Aqua Park within the company’s portfolio creates an integrated tourism ecosystem that elevates the investment value of surrounding units.
For the latest information about Residence Developments’ projects, clients can reach the specialized sales team to inquire about prices and payment systems, and to schedule on-site unit viewings at Aroma Village Ain Sokhna and the company’s hotel resorts.
Residence Developments sales number: +201118183030
Available daily from 10 AM to 10 PM
Residence Developments hotline: +201118183030
Available daily from 10 AM to 10 PM
The Residence Developments sales team offers a complimentary real estate consultation that includes a quick analysis of the client’s needs and budget, recommendation of the most suitable unit from the project portfolio, on-site viewings of available units at Aroma Village Ain Sokhna, and a presentation of all available financing and payment alternatives — whether the 7-year installment plan or the 2-year payment plan with immediate handover.
Why Choose Residence Developments’ Projects?
Residence Developments brings together operational expertise dating back to 1996, a clear focus on developing hospitality and tourism destinations along the Red Sea coast, integrated hospitality management through the Tulip brand, and competitive pricing and payment systems at Aroma Village Ain Sokhna.
For client inquiries about the latest prices, available unit sizes, and installment schedules, you can reach the Residence Developments sales number +201118183030 to receive a comprehensive real estate consultation and tour the units in person.
