The real estate sector continues to attract investment from the Gulf

The past few days have witnessed the unveiling of the plans of a group of Arab companies from the Gulf that have managed to penetrate the real estate development sector in Egypt by entering into partnerships with local entrepreneurs to establish various projects, as they want to take advantage of the construction boom taking place in Egypt.

It started with Egyptian-Emirati investment, after the real estate development company Sirac presented its first projects on the Egyptian real estate market, which are being realized in New Cairo.

With Egyptian-Emirati investment, Sirac launches City Mall, its first business in the market

The company “Sirak” is the result of a strong partnership between Egyptian businessman Tariq Suleiman, owner of the famous “Glamour” jewelry group, and Marley Silver and Richie diamond trade, with a number of partners from the Emirates.

The project is located in the most important investment areas in the city of New Cairo, and is located directly on the Muhammad Naguib axis, a few meters from the north ninety, and consists of 6 separate buildings to ensure the largest amount of open space. spaces and landscapes for visitors.

The total area of ​​the project is about 16,000 square meters, with 40% built-up and a facade of about 300 meters on the main road, and the buildings consist of 5 floors.

And Tariq Suleiman, chairman of the Sirak Real Estate Board of Directors, said that the Egyptian real estate market is promising and attractive for investments, and the company is looking for diversity and excellence even at the level of its work in the field of jewelry. , pointing out that the selection of the plot was carried out in the same way as jewelry, so that it has a point of specialness and uniqueness, where the population density is high and the location is surrounded by good projects and represents additional value for customers.

He pointed out that what the state has provided to support this sector over the past years, and the boom that the country has witnessed in urban aspects, is behind the launch of Sirak Real Estate Development Company, in the effort of its board of directors to contribute to the development process that Egypt is going through, emphasizing that the real estate market is strong and enjoys high demand.

Karim Mamoun, CEO of Sirac Real Estate Development Company, said that the success factors of real estate development companies consist of 4 elements: the name of the developing company, the location of the project, the master plan and the price.

He pointed out that cooperation with entrepreneur Tariq Suleiman is a new step, considering his experience in the Egyptian market, and the financial solvency that makes competition with other companies a big challenge for Sirac, considering that he owns the land of his projects, and the price has been paid in full, in the projects has already started construction before offering them to customers, which instills great confidence in customers and confirms interest in the quality of its real estate products.

He added that the “City Hall” project is not limited to the Fifth Settlement, but is an idea that will be implemented in several other areas of the same name in order to be a destination for international brands and customers.

He pointed out that the project location is very prominent and includes commercial areas from 50 to 1100 meters and administrative areas from 50 to 500 meters, while providing the necessary flexibility for the needs of companies and banks that need special specifications and spaces.

Mohamed Hafez, director of development at Hafez Consulting, said that the biggest challenge was the desire to launch a different project based on exploiting a privileged location and designing facades in a new and modern way.

He pointed out that when designing the project, care was taken to achieve the greatest benefit from all commercial and administrative units, in order to maximize the benefit, either for the company or the customer, explaining that “Sirac” wanted to develop a recognizable identity and stamp. through unique facades, which gives it exceptional competitive advantages.

For his part, engineer Hani Saad, founder of the Hani Saad Innovation Company and responsible for the implementation of interior design, decoration and landscape, confirmed that the location of the “City Hall” put it in fierce competition with neighboring projects, since all possibilities were used to provide the best interior design for units and the best experience for visitors through the integration of elements from design, implementation, interface, interior design and operation.

He explained that the development that took place in the real estate market during the recent period made the company want to design and implement a “landscape” commensurate with the nature of the customers and their use, indicating that the orientation towards open spaces encouraged us to implement a good experience to exploit the “landscape” in the project.

For his part, Mr. Haitham El-Shennawy, president of Value Consulting, confirmed that the role of management and operating companies is no longer a luxury in recent times, pointing out that real estate projects are in fierce competition in providing the best business. and administrative and economic facility management services.

He added that good project management is the biggest guarantee of its success, especially since each phase includes numerous challenges that had to be overcome, explaining that identifying project beneficiaries allows management companies to determine ways to deal with their requirements.

In the same context, Mr. Mohamed Diab, CEO of Envirgen Real Estate Development Consultancy, confirmed that he is working on a project to create a competitive advantage for customers that contributes to achieving good returns for customers and the company.

He emphasized that the goal is to achieve a good return for the developer and the customer by creating continuous added value throughout the project, with its increase over time to ensure the best return on investment for the customer.

It is worth noting that Sirak Real Estate Development Company owns a diverse portfolio of land between the North Bank, New Cairo, the administrative capital and numerous new cities.

Ontario is entering into a partnership with the United Saudi Arabia, with investments of 5.6 billion pounds

On the other hand, the Ontario Real Estate Development Company entered into a Saudi-Egyptian strategic partnership with the United Arab Company, with investments of EGP 5.6 billion in the local market over the next five years.

Eng. Mahmoud Hamed, CEO of Ontario Real Estate Development Company, said that it intends to expand into the Egyptian market during the next phase through its new strategic partnership with a Saudi partner, pointing to the launch of the last phase of the “Maple Business Complex” project, a new administrative capital, which is approximately the size of His investments are about 550 million pounds.

He added that the project is administrative-commercial and medical on an area of ​​2,680 square meters, consists of 12 floors with 4 basements, and completion is planned for 2026.

“Maple Business Complex” is located in a privileged location in the center of the city, which is one of the most vital areas in the new capital.

Hamed confirmed that the company has contracted the office of engineer Mohamed Hafez as a consultant for the project to come up with a prominent real estate product in terms of design, quality and sustainability.

He pointed out that his company believes in the importance of respecting quality standards, caring for the environment and moving to sustainable construction, especially in light of the recent hosting of the COP27 climate summit in Egypt, which showed the world the importance of taking the environmental dimension into account in order to preserve the economy, people and the future of the Earth.

He pointed out that the project envisages a garage with a mechanical system for cars and automatic doors, as well as panoramic elevators, explaining that the design uses technology that reduces electricity consumption, and is also equipped with modern firefighting equipment. – combat systems, while taking into account the state policy in the process of recycling waste and water. From the building to saving resources.

dr. Tariq Hilal Ashour, chairman of the board of directors of the United Arab Network for Contracting and Real Estate Development Company and member of the board of directors of the Ontario Real Estate Development Company, said that the strength of historical relations between Cairo and Riyadh has always been the biggest catalyst for the establishment of joint investments in various fields .

He added that the boom that Egypt is experiencing in the field of infrastructure, real estate and large industrial projects encouraged his company to strongly enter the Egyptian market, pointing out that the choice of strategic partner Ontario came because of the company’s good reputation in the market, as well as its ambitious plan in the coming period .

He emphasized that the Egyptian market has become one of the strongest markets attracting investment in the region, especially after the great interest of the political leadership and the Egyptian government to overcome the obstacles faced by investors and make every effort to improve investment and attract more investment in various sectors.

He pointed out that investing in the real estate sector in Egypt is the most attractive to investors in the current period, especially after the crises the world has gone through, because it has been shown that it can face challenges and even remain the safest investment.

He praised the Government’s efforts to support investors, especially in the real estate sector, because it is one of the most important sectors that contribute to the gross domestic product, and dozens of supporting industries are connected to it.

He emphasized that competition in the real estate sector is strong at the moment, especially in the new capital, but a good product and a developer committed to design and delivery times can consistently compete in the ranks of adults.

He noted that the company intends to expand strongly in Egypt by establishing beauty centers in East and West Cairo, in addition to the new administrative capital, and aims to launch urban projects in collaboration with Ontario.

As for Engineer Khaled Abbas, President and CEO of the Administrative Capital Company for Urban Development, he met with a number of investors in Saudi Arabia to discuss investment opportunities in Egypt in general, and the administrative capital in particular, during his participation in the Nile Real Estate Exhibition , in the presence of Minister of Immigration Suha Gendi.

During the meeting, Abbas reviewed some of the proposed commercial, administrative and recreational projects, while discussing many good investment opportunities in the capital, including residential, administrative, commercial and service projects, along with hospitals, schools and sports clubs.

He explained that investment opportunities and demand are increasing on the domestic market, and he also received questions from the audience about ways of cooperation and investment, either through the direct purchase of land from the Capital Company or through participation with the Capital Company in ways that allow both parties to benefit .

In the same context, Ambassador Soha Gendi said that Egyptian real estate exhibitions are achieving great success and response from Egyptians abroad, as it is in line with the instructions of the political leadership to make efforts and coordinate with different authorities to provide different investment opportunities for Egyptians abroad to different segments in all areas, especially in terms of investment. Real estate, as well as the promotion of new cities and national projects, which have become one of the most prominent features of the new republic, so that Egyptians abroad and the foreign communities in which they live can see the progress, development and prosperity of Egypt in record time.

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