NCB Developments is an Egyptian real estate developer that started in 2022 as an Egyptian joint stock company. The company operates mainly in East Cairo, with projects in New Cairo and the New Administrative Capital. In the market, NCB is commonly linked with the name New Capital Builders, and its platform is based on Egyptian-Kuwaiti founder experience in development and contracting.
Although NCB is a relatively young market entrant, economic and property sources show that it quickly launched several projects, including Verity Business Complex and InnoView Business Complex in the New Administrative Capital, alongside Valencia Valley and Valencia Hub in New Cairo. No verified public total is available for delivered units, so DeedGate leaves the delivered-units field blank rather than publishing an unsupported figure.
NCB Developments History and Foundation
NCB Developments started in 2022. Market sources describe it as an Egyptian joint stock company backed by Egyptian-Kuwaiti founder experience in real estate development and contracting. This background explains the company’s early focus on mixed-use commercial, administrative, and medical projects, alongside a residential compound in New Cairo.
Several executives appear in public coverage of the company, including Gerges Lawendy as chairman, Ahmed Mahdy as CEO, and Sherif Al-Ghazaly as chief commercial officer. Atef Manay, a board member, also appeared in 2023 investment statements. These named sources make it easier to track NCB’s project decisions through dated reporting rather than relying only on generic marketing claims.
Key Projects by NCB Developments
NCB’s portfolio is concentrated in two key zones: the New Administrative Capital and New Cairo. Its most visible projects include:
New Administrative Capital Projects
- Verity Business Complex – NCB’s first project in the New Administrative Capital, according to Daily News Egypt. It was launched with EGP 500 million in investments and comprises a ground floor plus 12 commercial, medical, and administrative floors over 3,632 sqm.
- InnoView Business Complex – NCB’s second mixed-use development in the New Administrative Capital, located in Downtown. Nawy lists the project’s land area at 3,274.75 sqm, with a 30% built-up ratio and the remaining area allocated to greenery and facilities.
New Cairo Projects
- Valencia Valley – A residential compound in Al Andalus, New Cairo. Invest-Gate reports that the project spans 12.5 acres, with investments exceeding EGP 5 billion, and includes 15 buildings, a strip mall, a medical facility, a clubhouse, and leisure facilities.
- Valencia Hub Mall – A commercial, administrative, and medical project in New Cairo, located in front of Hyde Park and close to Diar Compound and the American University in Cairo.
NCB Developments in Numbers
| Start year | 2022 |
| Legal form mentioned publicly | Egyptian joint stock company |
| Chairman | Gerges Lawendy |
| CEO | Ahmed Mahdy |
| Main operating areas | New Cairo and the New Administrative Capital |
| Reported investment volume | More than EGP 10 billion, according to statements published in October 2023 |
| Projects mentioned by sources | 4+ developments |
| Delivered units | No verified public company-wide total is available |
The published numbers show a fast expansion since the company entered the market in mid-2022. However, investment volume and project count should not be treated as delivered-unit totals; delivered units require a separate company-wide statement or reliable dated source.
Vision and Specializations
NCB focuses on mixed-use real estate in high-traffic locations, especially Downtown New Capital and New Cairo. Market sources describe the company’s core values around experience, strength, and integrity, with an ambition to add practical value to residents, investors, and shareholders.
In practical terms, the company specializes in three tracks: commercial, administrative, and medical centers; integrated residential compounds; and the use of specialized consultants and operators. Verity involved Archrete as architectural consultant and Brain2Fact for mall operation and management, while NCB later contracted ACE Moharram – Bakhoum to supervise the engineering and architectural designs of Verity and InnoView in the New Administrative Capital.
Recent Developments
In September 2023, NCB announced a contract with Arab Consulting Engineers Moharram – Bakhoum to supervise the implementation of engineering and architectural designs for Verity and InnoView in the New Administrative Capital. In October 2023, board member Atef Manay stated that NCB’s investment volume had exceeded EGP 10 billion and that the company owned three major projects launched within one year of entering the Egyptian market in mid-2022.
The same statements noted that Valencia had sold more than 50% of its first phase after its mid-June 2023 launch, pushing the company to accelerate the sales plan for later phases. This makes NCB one of the developers that built a visible footprint quickly across mixed-use and residential projects in East Cairo.
This project mix helps explain NCB’s position in the market: it is not only a residential developer and not only a mall developer, but a company trying to combine residential, commercial, administrative, and medical assets in high-demand locations. Still, any long-term performance assessment should depend on delivery progress, operation rates, and later verified updates from reliable sources.
Frequently Asked Questions about NCB Developments
What does NCB mean in Egyptian real estate?
NCB Developments is commonly linked in market sources with the name New Capital Builders, an Egyptian real estate developer backed by Egyptian-Kuwaiti experience.
When did NCB Developments start?
NCB Developments started in 2022 as an Egyptian joint stock company, according to Nawy and public company profiles.
Who is the chairman of NCB Developments?
Public sources list Gerges Lawendy as chairman of NCB Developments and Ahmed Mahdy as CEO.
What are NCB Developments’ main projects?
NCB’s main projects include Verity Business Complex and InnoView Business Complex in the New Administrative Capital, plus Valencia Valley and Valencia Hub in New Cairo.
How many units has NCB Developments delivered?
No verified public company-wide total is available for delivered units, so DeedGate does not publish a delivered-units number for this developer.