Voya Development Announces Obtaining Ministerial Decrees and Commencement of Execution for ZAT Community and COY Sheikh Zayed Projects

Voya Development, a real estate investment company, announced obtaining the ministerial decrees for its ZAT Community project in October Gardens and COY Sheikh Zayed project, following the issuance of Ministerial Decree No. (8) for the year (2026) for the ZAT project, and Ministerial Decree No. (53) for the year (2026) for the COY project, Invest-Gate reports.

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The company confirmed that the issuance of the ministerial decrees came after completing all legal procedures and required documents, according to the laws governing urban development, ensuring the legal status of the two projects is clear before the commencement of execution phases.

Voya Development clarified that the company’s teams have already started preparing for the execution phase of the ZAT and COY projects, with construction works set to commence soon after completing the final execution permits, according to a clear timeline that ensures adherence to the scheduled deadlines. The total investments for the two projects have been estimated at EGP 9.5 billion, with EGP 5 billion for the “ZAT” project and EGP 4.5 billion for the “COY” project.

In this context, Essam El-Naggar, Chairman of the Board of the company, stated that obtaining the ministerial decrees with their official numbers represents a fundamental step in the company’s approach, which is based on moving with steady and well-planned steps, starting from completing proper legal procedures, through planning, and reaching actual execution on the ground.

He pointed out that the company is preparing to launch two projects in the Green Belt and one project in the Green Revolution, the details of which will be announced during the first half of 2026. He clarified that the Green Belt projects will offer diverse villa models for the first time, alongside residential units, in addition to commercial, administrative, and hotel apartment activities, catering to customer needs and aspirations, and enhancing the investment value of the projects, thereby strengthening the company’s presence in the Egyptian real estate market.

On his part, Shehata El-Sayed, CEO of the company, confirmed that Voya Development is currently completing all technical and execution requirements for the two projects, noting that the execution phase will follow clear standards ensuring quality of execution and adherence to schedules, reflecting the company’s philosophy based on seriousness in execution and respect for procedures.

The company confirmed its reliance on strategic partnerships with major specialized entities, where Hafez Consultants is handling the architectural design for the two projects, Sabbour is acting as construction consultant for the COY project, and the company announced its collaboration with Radisson Hotel Group for operating and managing the hotel apartments within the COY project, in addition to an agreement with Vodafone Egypt to implement smart communication systems (Triple Play).

It is noteworthy that the “ZAT” project in the “Golden Square” area of October Gardens is being established on an area of 10 feddans. It is a mixed-use project that includes residential buildings of various sizes, an integrated commercial promenade, a clubhouse, and smart services. Meanwhile, the “COY” project is located in the heart of Sheikh Zayed, on an area of 10 feddans, including 570 diverse residential units and featuring hotel apartments, making it a unique investment and residential destination in the Egyptian market.