Times Launches "Avelin Boutique" in New Cairo with Lemon Spaces

Times Developments has launched the "Avelin Boutique" project in the Fifth Settlement area of New Cairo, in partnership with Lemon Spaces, a company specializing in managing and developing hospitality spaces, according to Daily News Egypt.

Lemon Spaces will operate and manage 150 serviced apartments within the project, which blends residential units with managed hotel stays and tech-enabled services. The site spans 21 acres, divided between the residential "Avelin Residence" and the commercial and administrative "T-Hub Mall," which covers an area of nearly 10,000 square meters.

The residential mix includes one-, two-, and three-bedroom units, as well as duplexes and serviced apartments managed by Lemon Spaces, with green spaces covering approximately 80% of the project's total area. Total investments in the project exceed EGP 3 billion, with around 30% of construction work completed prior to its market launch.

Ahmed El-Sergany, Chairman and CEO of Times Developments, stated that the partnership with Lemon Spaces aligns with the strategy of integrating managed hotel units into residential projects, linking them to Egypt's tourism expansion and the target of receiving 30 million tourists annually and reaching 300,000 hotel rooms by 2030. Payment plans start with a 5% down payment and installments extending up to 10 years.

What Do These Terms Mean?

Managed Serviced Apartments: Residential units managed under a hospitality system and rented out for short-term stays with hotel services such as housekeeping and maintenance.

Mixed-Use Development: A project that combines residential, commercial, and administrative uses within a single development, serving its residents and reducing commute times.

Green Spaces: The area designated for gardens and landscaping within a project, usually calculated as a percentage of its total area.