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Egypt - Valero Developments has officially launched, announcing its first project, Circle 9 Mall in Obour city, according to Chairperson Ahmed Fahmy.
Fahmy highlighted that Valero aims to make a mark in Egypt’s real estate sector, including potential expansion into the Gulf region by delivering Egyptian projects at international standards.
Fahmy noted that Egypt’s real estate market is rapidly growing, with informed clients seeking quality investments amid high demand for secure assets.
He disclosed that the company selected Obour City as its launch point, a well-developed first-generation city known for its green spaces, extensive industrial area, and balanced environment that supports both residential and commercial needs.
As one of Egypt’s first-generation cities, Obour spans over 16,000 acres and maintains a balanced population density. The city offers one acre per 50 residents, indicating genuine demand for diverse project types across various sectors, according to the company’s chairperson.
For his part, Ahmed Abdel Salam, CEO of Valero Developments, said, “Egypt has witnessed massive urban growth over the past decade, creating diverse investment opportunities for experienced players in all economic sectors. This environment has also paved the way for a new generation of real estate companies that have rapidly established their names and reputations in the market.”
He added that the new project will be the first medical and commercial mall in the entertainment district of Obour city, located directly across from the Dar Misr compound. The mall combines commercial and medical services in a modern, integrated design, featuring specialized medical clinics, retail stores, restaurants, and recreational areas. Its strategic location near residential areas makes it an ideal destination for shopping, entertainment, and comprehensive medical services in a comfortable, contemporary setting.
He concluded that Valero Developments holds several diverse projects in various locations within Obour and New Obour cities. The company is actively working to strengthen its presence and invest in these areas by delivering projects with integrated solutions tailored to the local market’s needs. Additionally, the company’s expansion plan includes establishing a presence in other new cities.
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