Eden Development has entered into a strategic partnership with Emirati businessman Ahmed Al Mansouri to develop the SEQUOIA project in the North Coast. The project boasts investments exceeding EGP 3 billion.     The SEQUOIA project is a luxurious tourist resort, the first of its kind in the North Coast, with investments surpassing EGP 3bn.   Omar Tweer, General Manager of Eden Development, emphasized that this collaboration aligns with Egypt’s national development growth plans. It also reflects the company’s commitment to diversify its investment portfolio and contribute to the urban renaissance of Egypt. The partnership underscores the UAE’s confidence in the Egyptian real estate market, which is currently undergoing a comprehensive transformation…

Egypt - Sky Real Estate, a subsidiary of Sky Investments, and Innovo Group, specializing in engineering consultancy, design, and sustainability systems, have jointly introduced Sky Innovo Developments—a real estate enterprise focused on crafting sustainable residential and commercial projects.     The inaugural venture, Park St. Edition, marks the company’s entry into the Egyptian real estate market. Situated in New Cairo, this mixed-use complex sets a benchmark for modern development. Covering an impressive 20,000 square meters, with a built-up area of 65,000 square meters, the project represents a significant investment of approximately EGP 10bn.   Ayman Hussein, Chairperson of Sky Investments (the parent company of Sky Real Estate), emphasized the…

Egypt - New Event Developments recently announced its latest project, Qamari, located in the R8 area of the New Administrative Capital (NAC). This ambitious venture represents a substantial investment of EGP 10bn.     Hamid Al Rgwy, Chairperson of New Event Developments, emphasized that the NAC has emerged as a crucial investment hub, attracting both local and foreign investors. Over the past few years, the city has witnessed remarkable development, transforming aspirations into concrete reality.   Project highlights:   Size: Qamari covers an expansive 25 feddan. Facilities: The project features swimming pools, a commercial mall, green spaces, sports fields, a medical centre, a social club, a gathering area, a BBQ zone, and a sports walkway. Residential…

Orascom Development Egypt’s (ODE) is planning to invest $500 million in 2024, compared to $400 million in 2023, Asharq Business reported, citing the company’s CEO Omar El Hamamsy.       El Hamamsy pointed out that 50% of the $500 million investment will be allocated for projects in Egypt, mainly in El Gouna, West Cairo, and Makadi.   It is worth noting the ODE’s consolidated revenues soared to EGP 4.175 billion during the first quarter (Q1) of this year from EGP 2.952 billion in Q1 2023.  

Egypt - Assistant Minister of Housing for Technical Affairs, Abdelkhalek Ibrahim, stated that Egypt’s real estate assets, including both state and private sector projects, are valued at $200bn and are suitable for export. This includes the ongoing Ras El-Hikma project.   Since 2022, the Egyptian government has launched an initiative to export real estate, aiming to invigorate the local market and increase foreign currency reserves through property sales, Ibrahim explained. At a press conference on Sunday, he remarked, “This initiative is a comprehensive strategy to improve the economic environment, focusing on attracting more investors. By directing investments into the real estate sector from international markets, we’re enhancing stock market performance and…

Egyptian real estate titan, Mabany Edris, has announced the latest expansion of its Koun project in Ras El Hekma, North Coast. This marks a significant investment surge, with plans to channel EGP 15bn into the development over the next three years, starting from 2024.   Following the swift sell-out of units, Mabany Edris now aims for total sales to hit approximately EGP 12bn from the Koun project. The project covers a vast 447,657.5 square meters and includes over 1,500 residential units.   The current phase introduces 593 fully finished residences, featuring various designs and sizes. These range from ground-floor apartments to standalone villas, townhouses, and twin homes, with sizes spanning from 59 to 114 square meters.   Mabany Edris’ Chairperson, Mohamed…

Egypt - Dubleuse, a leading real estate development firm, has proudly announced the sell-out of the first phase of its latest venture, District People. This project, which is a blend of commercial and administrative spaces, is strategically situated in New Cairo’s premier administrative district.   Spanning an area of 5,000 sqm, District People is on track for completion within a three-year timeframe from the onset of construction, boasting total investments of approximately EGP 1.5 billion. This marks a significant milestone in Dubleuse’s ambitious expansion strategy across its diverse project portfolio.   Moaz Mohamed Wissam Al-Din, the esteemed Chairperson of Dubleuse, remarked, “With a total built-up area of around 20,000 sqm, our company is set to…

Egypt - Mazaya Developments has unveiled its fourth venture in the MU23 zone of the New Administrative Capital (NAC), marking an investment milestone of EGP 5bn.   Mohamed Allam, Chairperson of Mazaya Developments, highlighted the strategic location of MU23, noting its early development and proximity to key transportation hubs, including the monorail, electric train, and central bus stations, as well as direct access from Suez Road.   The new project boasts a modest built-up area, occupying only 30% of the total land, with buildings spanning 106 sqm in width.   Mohamed Mostafa, CEO of Mazaya Developments, detailed the mixed-use nature of the building, which encompasses commercial, administrative, and medical facilities. The structure features a ground floor, nine…

Madinet Masr Housing and Development has launched the Sheya project in Sarai, its mega mixed-use development. Located on 228,212 sqm near the New Administrative Capital, Sheya includes 744 mixed-use residential units, comprising 420 S-Villas and 324 apartments, studios, and duplexes, according to a press release. Additionally, the project boasts a clubhouse, water lagoons, and green landscape areas. Abdallah Sallam, President and CEO of Madinet Masr, said: “At Madinet Masr, we follow an ambitious strategy to develop our land portfolio that encompasses over 9 million sqm through providing innovative projects, integrated and diverse real estate concepts that meet the needs of the customers.” Mohamed Lashien, Senior Vice President of Products at Madinet Masr, stated:…

Egypt - Madinet Masr (stock code MASR.CA), one of Egypt’s leading urban community developers, announced the launch of “Sheya”, the latest project in the company’s flagship project “Sarai”, spanning an area of 228,212 sqm and strategically located near the New Administrative Capital. The project is distinguished by its unique designs and variety of services in order to meet the needs and aspirations of Madinet Masr’s clients. This launch comes in line with the company’s growing performance and expansion plan as well as achieving record-breaking sales in 2023. “Sheya” offers a total of 744 mix residential units, including 420 S-Villas and 324 mix of apartments, studios and duplex. The project boasts a wide range of unique…

Arab Developers Holding is targeting contracted sales amounting to EGP 7 billion in 2024. The company plans to deliver 2,000 housing units in all of its development projects during this year, according to a bourse disclosure. In 2023, the EGX-listed firm shifted to consolidated net profits valued at EGP 100 million, against net losses worth EGP 18 million a year earlier. As for the standalone business, the net profit dropped year-on-year (YoY) to EGP 87.32 million in the January-December 2023 period from EGP 92.87 million. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info).

Egypt - The Arabian Kuwaiti Group is set to bolster its presence in the Egyptian market with a significant increase in investments, targeting the attraction of over 100,000 tourists annually to its flourishing tourism ventures. Previously, the group strategically acquired a $20m hotel in Sharm El Sheikh, which is undergoing development to emerge as a top-tier luxury hotel brand. Moreover, the group is poised to establish a vibrant commercial district poised to become a key draw in Sharm El Sheikh’s prime locales. Ongoing negotiations for acquiring additional hotels in the region are underway, aiming to solidify the group’s influence in Egypt’s tourism industry. In the realm of agriculture, the Arabian Kuwaiti Group has successfully reclaimed 800 feddan in Al-Ayat,…