The Red Residence New Cairo

The Red Residence New Cairo: serviced flats run by a hotel operator

The Red Residence New Cairo is a small project by Al - Borouj Misr Developments Group (ABM) in the Golden Square, its land only about 19,700 m² per the source. Buildings are ground plus 3 floors only, the units are serviced apartments, and the source says each one is managed by The Red Residence hotel. Handover is fully finished in June 2029.

Studio or one-bedroom

• Studio, 46 m²: 7,590,000, or 165,000 a metre.
• One-bedroom flat, 91 m²: 14,560,000, or 160,000 a metre.

The flat is roughly twice the studio in both size and price, with a similar metre, so apartments for sale in The Red Residence New Cairo come down to two sizes.

Before buying a hotel-managed unit

A flat run by a hotel operator works differently from an ordinary one. Ask what share of the rent the operator keeps, whether you may live in it yourself or must join the rental pool, the yearly service charge, and who pays for upkeep and furniture. Those answers set the return, not the price alone.

Ask for the management contract

The management agreement is often separate from the sale contract. Get it and read it before paying the deposit, and check its term and how you can leave it. For buy-to-let, ask the operator what occupancy it expects, whether any fixed return is written down, and if so for how many years and what follows.

A high metre, though not the highest

The flat metre here is 160,000, close to Fifth Square Al Marasem a kilometre away (about 150,000) and well above Zomra East (near 101,500) and Cattleya, 700 metres off (about 76,300). The studio metre, 165,000, is above Noi (near 118,700) and Nurai (about 111,900). Then again, The Gray, 1.2 km away, and Prk Vie, 1.8 km away, both with similarly small units, are higher still at about 230,000 and 224,200. You are paying extra for the hotel management, so make sure it pays you back.

The studio in instalments

On The Red Residence New Cairo payment plans, the studio takes a 759,000 deposit and 7 years of instalments near 81,300; the flat a 1,456,000 deposit and instalments around 156,000. By handover, roughly 32 months away, you will have covered about 45% of the price.

Per the source, the project is next to the Maadi Club and opposite Lake View Boutique Villas, near the Mohamed Naguib Axis, South 90th Street and the Middle Ring Road, and close to the American University, Point 90 and Cairo Festival City. Design is by architect Raef Fahmy, and the project has pools, a gym, a spa and beauty salon, restaurants and shops, plus green space, walking and cycling paths, garages and camera security. ABM also has FCC, for offices and shops, in the Golden Square.