Latest news with #MostakbalCity
Zawya
2 days ago
- Business
- Zawya
CCR Developments set to launch its third project at New Capital
CCR Developments is preparing to launch its third project in the New Administrative Capital, a move that reflects the company's strong confidence in the future of the New Capital and its commitment to meeting the growing demand for high-quality real estate developments within the city. Dr. Remon Taghian, CEO of CCR Developments, stated that CCR Developments already owns two flagship projects in the New Capital, including Front Gate—a mixed-use project featuring commercial, administrative, medical, and hotel units. The project spans 4,000 sqm and consists of a ground floor and seven upper floors. Taghian added that the third project is located near Mostakbal City and serves the areas of the New Administrative Capital, Madinaty, and Mostakbal City. The concrete structure has been 100% completed, with 60% of the electromechanical work and over 70% of the façade work also finished. Additionally, the company is developing CORE, a commercial and administrative project located in the R3 district. Positioned at the crossroads of two major roads—each 70 meters wide—the project enjoys a prime location overlooking the main R3 corridor, which links Sports City, the Mohamed Bin Zayed Axis, and the Central Business District. Just a few steps from Sports City and only five minutes from the capital's main gate, construction on the project is currently in progress. Taghian noted that the company brings over 40 years of experience in the real estate market, having developed more than 150 standalone projects and 250 retail units in East Cairo before expanding into major developments in the New Administrative Capital. He concluded that the success of the company's previous two projects reinforces its expansion plans, with the upcoming launch of its third project, which is set to be an innovative new addition to real estate market.
Zawya
23-07-2025
- Business
- Zawya
Egypt: Adeer-PARAGON alliance teams up with MIDAR for $1.4bln development project
Arab Finance: Adeer International, a subsidiary of Sumou Holding Group, teamed with Egypt's leading mixed-use developer PARAGON Developments and MIDAR to launch a joint development entity, according to a press release. The strategic partnership support expanding investment cooperation between Egypt and Saudi Arabia. With investments exceeding EGP 70 billion, the scheme will span over 500,000 square meters in Mostakbal City, becoming the city's largest mixed-use project to date. In line with modern development trends shaping Egypt and the wider region, the project will seamlessly integrate administrative, commercial, and hospitality components. Commenting on the occasion, Bedeir Rizk, CEO of PARAGON, highlighted: 'Through this strategic alliance with visionary partners backed by robust investment strength, we are shaping a new development model capable of redefining the relationship between people and place in response to the rapidly shifting dynamics of urban development in Egypt and the region.' From his side, Bassel El Serafy, Global CEO of Adeer, stated: 'The launch of this joint entity reinforces Sumou Holding Group's commitment to impactful Saudi-Egyptian partnerships, knowledge transfer, and the delivery of a flexible urban model that aligns with the aspirations of future generations and the sustainable development goals of both countries.' This collaboration builds on a longstanding partnership between Adeer and PARAGON. The mixed-use development project sets a new approach to joint real estate development that unites the expertise of leading entities from both Egypt and Saudi Arabia. It also reshapes the developments plans, advancing toward building cities that are more balanced, blending sustainability, innovation, and evolving urban needs. In his recent meeting with Prime Minister Mostafa Madbouly, Sumou Holding's Chairman Ayaedh Al Qahtani rolled out plans to establish the first real estate fund in Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
17-07-2025
- Business
- Zawya
Mohamed Fekry appointed Vice Chairman of Beta Real Estate Development
Beta Real Estate Development announced the appointment of Eng. Mohamed Fekry as Vice Chairman of the Board of Directors. This appointment is part of its strategy to leverage young talent and develop the company's marketing approach. Eng. Mohamed Alaa holds a Bachelor's degree in Engineering, Construction and Building, from the Arab Academy for Science, Technology and Maritime Transport (AAST) in 2011, and a Master's degree in Business Administration (MBA), specializing in International Marketing, from the Arab Academy for Science and Technology in 2017. He began his career early in the sales field, achieving the Top Achiever title during his undergraduate studies. Upon graduation, he was tasked with developing Beta Real Estate Development's marketing strategy and established the company's marketing department. He progressed through the company's ranks, serving as Commercial Director, Chief Commercial Officer (CCO), Board Member, and then General Consultant for the company and several international companies. Engineer Mohamed Fekry emphasized Beta Developments' commitment to adopting an innovative marketing plan this year, which was demonstrated during the Ramadan 2025 season with the campaign launched under the title "Beta Developments... A History of Trust," starring Laila Elwi, directed by Marwan Hamed, and filmed at the heart of the Beta Greens project in Mostakbal City. He noted that the campaign achieved widespread acclaim and highlighted Beta Developments' 30-year history in the Egyptian market, during which it implemented and operated 10 residential, commercial, and sports projects in East and West Cairo, all of which added value to the real estate sector. All projects were delivered ahead of the agreed delivery dates, strengthening the company's credibility and helping maintain customer confidence. He explained that the company's most important feature is building strong relationships with its clients, resulting from its commitment to delivery dates, agreed-upon specifications, and after-sales service. He noted that attention is paid to the smallest details to maintain project quality for life and achieve the highest level of customer satisfaction. He noted that approximately 30% of buyers in the company's new projects are previous customers of other projects. He added that the company will continue its innovative marketing campaigns in the coming period and will also be keen to participate in numerous international exhibitions outside Egypt, following the remarkable success of its participation in recent months. Regarding Beta Real Estate Development's new offerings, Engineer Mohamed Fekry said, "The company is preparing to launch a new sales phase of its Beta Residence project in 6th of October City within days. The company has successfully achieved the sales target for the units offered in the project in record time." The Beta Residence project boasts a strategic location directly on the Fayoum Tourist Road. It spans 20 acres within an integrated urban environment. The project includes a main walkway named as"Spine", as it runs the full length of the compound starting from the main gate, overlooking the social club and green areas. It also includes 770 residential units and high-end services, including a recreational area featuring the Beta Sports Club, a gym, a swimming pool, waterfalls, places to sit amidst nature, a children's play area, a commercial area, and electric car charging points. Over the course of 32 years, Beta Real Estate Development has implemented a diverse group of distinguished real estate projects in East and West Cairo, ranging from residential, administrative, commercial, and sports projects. These projects represent success stories in providing an integrated product with the highest level of quality and after-sales service. Beta Development's projects and services are available to all. The real estate sector has so far accommodated more than 25,000 residents. Beta Real Estate Development has delivered and operated 10 residential, commercial, and sports projects in East and West Cairo and is now beginning implementation of its eleventh project, Beta Residence.
Zawya
07-07-2025
- Business
- Zawya
MIDAR announces fiscal year 2024 financial results with over 500% profit growth following successful partnerships with leading local and regional investors
Elkousey: MIDAR's Strong Financial Indicators Highlight Its Leadership in Applying the Concept of Master Developer for Sustainable Integrated Cities in Egypt MIDAR for Investment and Urban Development, the founder and master developer of the mega-cities "Mostakbal City" and "MADA" in New Cairo, has announced its financial and operational results for the fiscal year 2024. The results reflect a significant increase in revenue and net profit growth rates, driven by the company's successful partnerships with major real estate developers in Egypt to advance projects within MIDAR's cities. The company's financial statements for FY 2024 revealed a remarkable revenue growth rate of 584%, underscoring the substantial progress in its operations over the past year. In terms of net profit, MIDAR continued its strong performance in the Egyptian market, solidifying its position as the preferred investment partner for local, regional, and global entities seeking to develop world-class real estate and entertainment projects. The net operating profit for 2024 surged by over 500% compared to the profits achieved in 2023. Eng. Ayman Elkousey, CEO and Managing Director of MIDAR for Investment and Urban Development, emphasized that these positive results reflect MIDAR's established leadership, achieved through years of dedicated work in the Egyptian market. He noted that the company's robust financial indicators demonstrate the success of MIDAR's pioneering approach as the master developer of sustainable integrated cities in Egypt. This success further incentivizes major investment entities to partner with MIDAR in developing modern, integrated residential and entertainment cities. Elkousey also expressed his pride in MIDAR's recognition by the Ministry of Finance during the "Shokran" (Thank You) Conference, held in collaboration with the Egyptian Tax Authority. This acknowledgment highlights MIDAR's pivotal role in supporting the government's efforts to modernize the tax system. The honor reflects the state's appreciation for leading economic entities that uphold transparency, foster partnership, and strengthen trust between the government and taxpayers.
Zawya
24-06-2025
- Business
- Zawya
El Attal Holding forges strategic partnership with venture lifestyle to launch Egypt's first Winter Entertainment Hub at 'The 101' Project with $10mln investment
Cairo: El Attal Holding has announced the signing of a strategic partnership with Venture Lifestyle, Egypt's leading event and concert organizer, to develop the country's first winter-themed entertainment hub within the '101 project' located in 'Mostakbal City'. The project is being developed by Attal Properties, one of the group's subsidiaries, with a total investment of USD 10 million. The signing ceremony was attended by Eng. Ahmed El Attal, Chairman of El Attal Holding; and RabihMokbel, CEO and Founder of Venture Lifestyle;alongside several senior executives from both entities. This step comes as part of El Attal Holding's strategy to offer a fully integrated urban experience that blends contemporary lifestyles, entertainment facilities, and hospitality services, reaffirming its commitment to redefining the concept of residential communities. It also supports the state's national vision to promote real estate exports and strengthen Egypt's position as a leading regional hub for real estate and tourism investment, in line with Egypt Vision 2030. The project will be the first Winter Entertainment Hub in Egypt, fully designed and operated by Venture Lifestyle. It will host a series of international concerts and artistic events aimed at attracting both local and international visitors, with the official name of the hub expected to be announced during an upcoming launch event. The 101 has been selected as the venue for this project due to its prime location in the heart of Mostakbal City and its direct proximity to the Middle Ring Road, making it easily accessible and reinforcing its appeal as an integrated residential and investment destination. Commenting on the partnership, Eng. Ahmed El Attal, Chairman of El Attal Holding, stated: 'Our strategiccollaboration with Venture Lifestyle marks a milestone in our journey to provide a fully integrated urban lifestylethat combine residential living with entertainment. At Attal Holding, we aim to redefine real estate investment by introducing innovative lifestyle concepts that meet the expectations of new generations. Launching Egypt's first Winter Entertainment Hub at The 101 reinforces our commitment to enhancing quality of life, positioning Egypt as a regional entertainment destination, and supporting the state's vision to export real estate and elevate the appeal of new cities. Through this partnership, we will host a series of world-class events that cater to diverse tastes and offer a modern lifestyle in the heart of Mostakbal City." For his part, Rabih Mokbel, CEO and Founder of Venture Lifestyle, commented: 'We are pleased to collaborate with El Attal Holding to launch Egypt's first winter entertainment hub, a significant step that reflects our shared vision to redefine the entertainment experience by developing innovative destinations that align with contemporary lifestyles and meet the aspirations of diverse audiences. This project also embodies our commitment to introducing new concepts that elevate quality of life through the integration ofresidential and entertainment experiences, thereby boosting the appeal of emerging urban communities and offering a distinctive addition to both the entertainment and tourism landscapes in the region. We strongly believe that Egypt's real estate sector is among the most promising, particularly in light of the country's rapid urban expansion and the strategic development and investment opportunities it offers." 'The 101' is one of the flagship developments by Attal Properties, launched in strategic partnership with The Arab Contractors. Located on Plot No. 1 of Phase One ofMostakbal City, New Cairo, the development spans approximately 424,200 square meters. It offers a wide variety of residential units, including maisonettes, twin houses, townhouses, villas, and apartment buildings, with unit sizes ranging from 120 to 500 square meters, catering to diverse lifestyles and needs. Notably, only 30% of the total land area is allocated to buildings, while 70% is dedicated to water features, green spaces, and comprehensive services, creating a sustainable and vibrant living environment. To ensure world-class qualitystandards, Attal Properties has partnered with leading local and international firms, including INVERSION for project management and development, globally renowned architect Xavier Vilalta, and YBA Architects, ensuring that The 101 combines architectural excellence with a future-forward vision of urban life.
