Latest news with #AymanElKousey
Daily News Egypt
27-07-2025
- Business
- Daily News Egypt
Midar partners with Adeer to develop Boulevard project in Mostakbal City with EGP 70bn investment
Midar for Investment and Urban Development, the master developer of Mostakbal City and MADA City in East Cairo, has announced the signing of a strategic revenue-sharing agreement with Adeer International, a subsidiary of Saudi-based Sumou Holding. The partnership will see the development of an integrated mixed-use urban project spanning over half a million square metres in Mostakbal City, with total investments exceeding EGP 70bn. Ayman ElKousey, CEO and Managing Director of Midar, highlighted the company's commitment to partnering with leading investors and developers who have proven track records in local and regional markets. He noted that Midar's cities—Mostakbal City and MADA—continue to position themselves as top investment destinations in New Cairo, attracting dozens of major investors over recent years thanks to their unique offering focused on sustainability, luxury, and smart infrastructure management. ElKousey added that the agreement reflects Sumou Holding's confidence in Midar's vision and projects. It comes as part of a broader investment alliance launched earlier this year, which brought together Midar, Sumou Investment, Adeer International, and Hassan Allam Properties to develop luxury hospitality and entertainment projects across premium Nile-front locations and within Midar's cities, with total investments of $2bn as announced in the memorandum of understanding signed at the start of the year. He also noted that unveiling the new project during a meeting between the leadership of Sumou Holding Group and Midar, alongside Egypt's Prime Minister Mostafa Madbouly, demonstrates the high level of official attention the project is receiving, as well as the extensive government coordination aimed at ensuring the successful completion of all its phases. ElKousey stressed that the meeting reflected the Egyptian state's commitment to supporting serious investments and overcoming any challenges that might slow progress in key projects. Commenting on the announcement, Bassel El Serafy, CEO of Adeer International, said: 'Our partnership with Midar is built on a shared strategic vision and deep mutual trust in Egypt's real estate and investment potential. Boulevard is not just a flagship development; it represents a long-term ambition to redefine modern living in Egypt through fully integrated, sustainable, and smart urban planning.' El Serafy also announced the establishment of a new joint venture between Adeer International and Paragon Developments to lead the Boulevard project. This step forms part of Sumou Holding's wider strategy—executed through Sumou International Investment—to foster impactful Egyptian-Saudi partnerships, transfer expertise, and deliver flexible, future-ready urban models aligned with the sustainable development goals of both countries.
Tahya Masr
08-05-2025
- Business
- Tahya Masr
MIDAR Inaugurates Al Moez Mosque in "Mostakbal City"
Major General Eng. Amir Sayed Ahmad, Chairman of MIDAR for Investment and Urban Development, and Eng. Ayman ElKousey, CEO & Managing Director of the company, inauguratedAl Moez Mosque in Mostakbal City. The mosque spans 1,625 square meters and can accommodate over 2,700 worshippers. The event was attended by senior executives and board members of MIDAR, as well as a number of local and regional real estate developers participating in the development of their projects within MIDAR's cities, Mostakbal City and MADA. This comes as part of MIDAR for Investment and Urban Development's commitment to providing a wide range of integrated services for the city's residents, including places of worship, within a fully integrated urban community that meets all needs. Strategically located within Mercato, one of the largest service hubs in Phase III of Mostakbal City, the mosque lies within a vibrant 22-acre area that also includes commercial outlets and a dining district featuring prominent international brands - positioning it as a central destination for residents. Al Moez Mosque stands out with its unique Islamic architectural style, characterized by multiple domes, soaring minarets, and intricate Islamic motifs adorning the pulpit and interior walls, lending the space a sense of grandeur befitting a house of worship. The mosque comprises two levels - ground and upper -and offers two main prayer areas: an outdoor courtyard accommodating 1,384 worshippers, and an indoor men's prayer hall with capacity for 1,026 worshippers. A dedicated women's prayer area accommodates 384 worshippers. The mosque is equipped with modern amenities to meet the needs of worshippers, including multiple entry points and accessible pathways, elegantly designed ablution areas for both men and women, spacious waiting areas, and landscaped gardens. Additionally, the mosque features residential units for the imam and muezzin, a library stocked with key Islamic texts and references, and multipurpose rooms for community and social activities - establishing it as a comprehensive Islamic, cultural, and social center. Commenting on the occasion, Eng. Ayman ElKousey, CEO & Managing Director of MIDAR, stated:"The inauguration of Al Moez Mosque represents a significant milestone in the implementation of our city's master plan, which aims to provide top-tier residential, educational, healthcare, recreational, and commercial services in line with global standards." He added:" Al Moez Mosque is not just a place of worship; it is a beacon for Islamic, social, and cultural engagement that serves the entire community. At MIDAR, we are committed to ensuring that residents of our cities enjoy a dignified and holistic living experience."
Economic Key
05-05-2025
- Business
- Economic Key
MIDAR Inaugurates Al-Mo'ez Mosque in Mostakbal City
Major General Eng. Amir Sayed Ahmad, Chairman of MIDAR for Investment and Urban Development, and Eng. Ayman ElKousey, CEO & Managing Director of the company, inauguratedAl Moez Mosque in Mostakbal City. The mosque spans 1,625 square meters and can accommodate over 2,700 worshippers. The event was attended by senior executives and board members of MIDAR, as well as a number of local and regional real estate developers participating in the development of their projects within MIDAR's cities, Mostakbal City and MADA. This comes as part of MIDAR for Investment and Urban Development's commitment to providing a wide range of integrated services for the city's residents, including places of worship, within a fully integrated urban community that meets all needs. Strategically located within Mercato, one of the largest service hubs in Phase III of Mostakbal City, the mosque lies within a vibrant 22-acre area that also includes commercial outlets and a dining district featuring prominent international brands – positioning it as a central destination for residents. Al Moez Mosque stands out with its unique Islamic architectural style, characterized by multiple domes, soaring minarets, and intricate Islamic motifs adorning the pulpit and interior walls, lending the space a sense of grandeur befitting a house of worship. The mosque comprises two levels – ground and upper -and offers two main prayer areas: an outdoor courtyard accommodating 1,384 worshippers, and an indoor men's prayer hall with capacity for 1,026 worshippers. A dedicated women's prayer area accommodates 384 worshippers. The mosque is equipped with modern amenities to meet the needs of worshippers, including multiple entry points and accessible pathways, elegantly designed ablution areas for both men and women, spacious waiting areas, and landscaped gardens. Additionally, the mosque features residential units for the imam and muezzin, a library stocked with key Islamic texts and references, and multipurpose rooms for community and social activities – establishing it as a comprehensive Islamic, cultural, and social center. Commenting on the occasion, Eng. Ayman ElKousey, CEO & Managing Director of MIDAR, stated:'The inauguration of Al Moez Mosque represents a significant milestone in the implementation of our city's master plan, which aims to provide top-tier residential, educational, healthcare, recreational, and commercial services in line with global standards.' He added:' Al Moez Mosque is not just a place of worship; it is a beacon for Islamic, social, and cultural engagement that serves the entire community. At MIDAR, we are committed to ensuring that residents of our cities enjoy a dignified and holistic living experience.' ظهرت المقالة MIDAR Inaugurates Al-Mo'ez Mosque in Mostakbal City أولاً على المفتاح الاقتصادي.
