Latest news with #MohamedAsaad
Zawya
13-05-2025
- Business
- Zawya
Egypt's Special Group and Mint Real Estate launch $139mln 40 Square project in new capital
Egypt-based Special Group, in collaboration with Mint Real Estate Assets, has launched a new mixed-use project, 40 Square, in Egypt's New Administrative Capital (NAC), with a total investment of EGP 7 billion ($139 millon), company officials told Zawya Projects. The 40-acre development includes 40 buildings comprising 1,477 residential and commercial units, to be built over three phases. The first phase, which includes 386 units, is scheduled for delivery by the end of 2026. 'We've completed 30 percent of construction and are relying entirely on self-funding,' said Mohamed Asaad, Chairman of Special Group. The project represents the company's first foray into real estate development, building on its existing portfolio in construction, infrastructure, and services. 'Diversification has always guided our growth,' Asaad added. 'Real estate development is a natural extension, and partnering with Mint brings the expertise needed to structure and plan long-term projects.' Special Group plans to develop two additional commercial projects in partnership with Mint—one in Sheikh Zayed City and another in New Cairo. Tamer Erfan, Chairman of Mint Real Estate Assets, described the 40 Square project as a model of sustainable investment. 'We see it is an opportunity to redefine traditional real estate investment into a long-term, stable model,' he said. Mint will oversee the project's commercial strategy, including marketing, sales, and customer relationship management. Alia El Nagdy, CEO of Mint Real Estate Asset Management, said: 'Our role is to ensure the project aligns with how people want to live and invest. This market demands selectivity and long-term thinking.' El Nagdy added that Mint is targeting EGP 2 billion ($40 million) in sales revenue from the project in 2025. (1 US Dollar = 50.50 Egyptian Pounds) (Reporting by Eman Hamed; Editing by Anoop Menon) (
Zawya
12-05-2025
- Business
- Zawya
Egypt: Special Group, Mint Real Estate launch '40 Square' residential project in New Capital
Egypt - Special Group for Trade and Investment, in partnership with Mint Real Estate Asset Management, has announced the launch of 40 Square, a new residential development located in the New Administrative Capital (NAC). The announcement follows a strategic agreement signed in March, under which Mint will manage all of Special Group's real estate assets, beginning with this flagship project. Situated in the Residential Investors District, 40 Square spans more than 40 feddans and enjoys a prime location near the Green River Park, the government district, and key infrastructure. The project is designed to offer smart residential units, extensive open spaces, and integrated services, with a strong focus on long-term livability and functionality. It will include approximately 1,477 residential units, with the first phase slated for completion in 2026. Total investments are projected to exceed EGP 7 billion. This development marks Special Group's debut in real estate, building on its established expertise in construction, infrastructure, and service delivery. The move reflects the company's broader strategy to shift toward long-term value creation across its asset portfolio. 'Diversification has always been central to how we grow,' said Mohamed Asaad, Chairperson of Special Group. 'Our experience spans construction, healthcare, and industrial services. Entering real estate development is a natural extension of that strategy. But it's not just about building—it requires structure, planning, and long-term thinking. That's why we partnered with Mint, to bring expertise and discipline to every stage of the process.' Tamer Erfan, Chairperson of Mint Real Estate Asset Management, said: 'This partnership aligns perfectly with our vision of delivering projects that provide real, sustainable investment value—particularly in today's challenging market. 40 Square is more than a development; it's a chance to reshape real estate investment into a long-term, stable model, backed by intelligent planning and effective execution. That's the qualitative difference Mint brings to the table.' Mint will lead the commercial direction of the project, overseeing strategic planning, marketing, CRM, and sales. Their role will be critical in ensuring 40 Square not only launches successfully but is positioned for sustained performance. 'Today's real estate market isn't driven by supply alone—it's shaped by selectivity, affordability, and strategic positioning,' said Alia El Nagdy, CEO of Mint Real Estate Asset Management. '40 Square enters the market at a moment of both opportunity and constraint. Our goal is to align the project with how people want to live, invest, and grow. We're not just reacting to the market—we're anticipating it.' El Nagdy noted that while the NAC continues to attract long-term investment, the broader real estate sector faces growing pressures from inflation, cost volatility, and shifting consumer demand. Projects that endure, she emphasized, will be those rooted in solid fundamentals and guided by clear operational models—principles that define 40 Square. The launch of 40 Square sets a strategic tone for both companies' visions of the future of real estate development: one grounded in disciplined execution, operational clarity, and long-term value creation. As Special Group expands its footprint in the sector, and Mint continues to redefine real estate asset management in Egypt, their collaboration offers a model for sustainable, performance-driven development.
Daily News Egypt
11-05-2025
- Business
- Daily News Egypt
Special Group, Mint Real Estate launch '40 Square' residential project in New Capital
Special Group for Trade and Investment, in partnership with Mint Real Estate Asset Management, has announced the launch of 40 Square, a new residential development located in the New Administrative Capital (NAC). The announcement follows a strategic agreement signed in March, under which Mint will manage all of Special Group's real estate assets, beginning with this flagship project. Situated in the Residential Investors District, 40 Square spans more than 40 feddans and enjoys a prime location near the Green River Park, the government district, and key infrastructure. The project is designed to offer smart residential units, extensive open spaces, and integrated services, with a strong focus on long-term livability and functionality. It will include approximately 1,477 residential units, with the first phase slated for completion in 2026. Total investments are projected to exceed EGP 7 billion. This development marks Special Group's debut in real estate, building on its established expertise in construction, infrastructure, and service delivery. The move reflects the company's broader strategy to shift toward long-term value creation across its asset portfolio. 'Diversification has always been central to how we grow,' said Mohamed Asaad, Chairperson of Special Group. 'Our experience spans construction, healthcare, and industrial services. Entering real estate development is a natural extension of that strategy. But it's not just about building—it requires structure, planning, and long-term thinking. That's why we partnered with Mint, to bring expertise and discipline to every stage of the process.' Tamer Erfan, Chairperson of Mint Real Estate Asset Management, said: 'This partnership aligns perfectly with our vision of delivering projects that provide real, sustainable investment value—particularly in today's challenging market. 40 Square is more than a development; it's a chance to reshape real estate investment into a long-term, stable model, backed by intelligent planning and effective execution. That's the qualitative difference Mint brings to the table.' Mint will lead the commercial direction of the project, overseeing strategic planning, marketing, CRM, and sales. Their role will be critical in ensuring 40 Square not only launches successfully but is positioned for sustained performance. 'Today's real estate market isn't driven by supply alone—it's shaped by selectivity, affordability, and strategic positioning,' said Alia El Nagdy, CEO of Mint Real Estate Asset Management. '40 Square enters the market at a moment of both opportunity and constraint. Our goal is to align the project with how people want to live, invest, and grow. We're not just reacting to the market—we're anticipating it.' El Nagdy noted that while the NAC continues to attract long-term investment, the broader real estate sector faces growing pressures from inflation, cost volatility, and shifting consumer demand. Projects that endure, she emphasized, will be those rooted in solid fundamentals and guided by clear operational models—principles that define 40 Square. The launch of 40 Square sets a strategic tone for both companies' visions of the future of real estate development: one grounded in disciplined execution, operational clarity, and long-term value creation. As Special Group expands its footprint in the sector, and Mint continues to redefine real estate asset management in Egypt, their collaboration offers a model for sustainable, performance-driven development.
Daily News Egypt
18-03-2025
- Business
- Daily News Egypt
Special Group partners with Mint Real Estate to elevate asset management for New Capital project
Special Group for Trade and Investment has entered a strategic partnership with Mint Real Estate Asset Management, a subsidiary of Al Ahly Sabbour, to oversee the full scope of asset management for its real estate portfolio and upcoming developments. The collaboration kicks off with Special Group's latest project in the New Capital, set to launch in the market soon. The agreement, formalized in the presence of board members from both companies, marks a pivotal step in ensuring the project's market positioning, financial sustainability, and operational success. With over 25 years of investment experience across multiple sectors, Special Group sees this expansion into real estate development as a natural progression of its expertise. Leveraging its extensive track record in large-scale infrastructure and construction projects, the company aims to deliver a commercially sound development that aligns with long-term growth strategies. 'A successful real estate project is about more than just construction—it's about creating lasting value,' said Mohamed Asaad, Chairperson of Special Group. 'Entering the development sector requires strategic vision, deep expertise, and the right partnerships. By collaborating with Mint Real Estate Asset Management, we are ensuring a market-driven approach that prioritizes strategic planning and long-term asset performance.' Under this agreement, Mint Real Estate Asset Management will take the lead in strategic planning, marketing, sales execution, and CRM, ensuring the project is positioned competitively in an evolving real estate landscape. As supply in the New Capital continues to grow, effective differentiation and strategic asset management are becoming key drivers of long-term success. 'The market demands more than just prime locations and quality construction—it requires a forward-thinking approach to real estate asset management,' said Alia El Nagdy, CEO of Mint Real Estate Asset Management. 'Developments must be adaptable, responsive to market shifts, and structured for sustainable growth. Our role is to ensure that Special Group's entry into real estate development is backed by the right strategies, setting the project up for long-term success.' As Egypt's real estate sector matures, this collaboration underscores the growing importance of professional asset management in optimizing project performance and strengthening investor confidence. With Special Group's industry expertise and Mint's strategic approach, the partnership is set to introduce a well-positioned, high-value development to the market.
