Residence Real Estate Development

Residence Real Estate Development (RESIDENCE) is the developer of the Aroma Ain Sokhna resort on the Red Sea coast. Wael El Shahed leads the company as chief executive. Phases one and two of Aroma have been operating since 2018, and in September 2024 the company announced its fourth phase, Red Ville. We list three of its projects in Suez as of October 2026: Aroma Sokhna at a launch price of EGP 5.2 million, Red Ville Ain Sokhna from EGP 4.7 million with delivery in June 2030, and Sea Ville Ain Sokhna from EGP 12 million with delivery in June 2028. The company works with partners such as Elite Hotels & Resorts and Marakeb Yacht Management on operations.

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