Latest news with #OmarElSaadawy
Zawya
a day ago
- Business
- Zawya
Egypt: Town Writers Developments to invest $24mln in 2026 construction plans
Egypt - Town Writers Developments is set to invest EGP 1.2bn in construction works across its ongoing and upcoming projects in 2026, according to Omar El Saadawy, Founder and Chairperson of the company. El Saadawy revealed during a recent company conference that the developer aims to expand its investment portfolio in Egypt's real estate market to EGP 15bn, with long-term plans to reach EGP 30bn through the launch of new projects and geographic expansion. Currently, the company's projects are concentrated in East Cairo and the New Administrative Capital (NAC), covering a mix of administrative, commercial, and residential developments. El Saadawy stated that the company is looking to diversify into new regions, further strengthening its investment footprint. Town Writers currently holds approximately 15 feddans of land earmarked for near-future development. The company is targeting EGP 600m in investments across its projects during the current year. Since its establishment, Town Writers Developments has been among the early investors in the NAC, with a portfolio that includes high-end commercial projects such as Downtown Mall I and II. In New Cairo, the company has delivered the Revolve project, while ongoing projects in the NAC include 88 HUB, Central Point, and Strip Mall. As for construction progress, El Saadawy noted that Downtown Mall I has reached 87% completion, with handover works underway. Downtown Mall II stands at 75% completion, while Revolve in New Cairo is 88% complete. Meanwhile, construction progress at the NAC projects is at 25% for 88 HUB, 17% for Central Point, and 10% for Strip Mall.
Daily News Egypt
2 days ago
- Business
- Daily News Egypt
Town Writers Developments to invest EGP 1.2bn in 2026 construction plans
Town Writers Developments is set to invest EGP 1.2bn in construction works across its ongoing and upcoming projects in 2026, according to Omar El Saadawy, Founder and Chairperson of the company. El Saadawy revealed during a recent company conference that the developer aims to expand its investment portfolio in Egypt's real estate market to EGP 15bn, with long-term plans to reach EGP 30bn through the launch of new projects and geographic expansion. Currently, the company's projects are concentrated in East Cairo and the New Administrative Capital (NAC), covering a mix of administrative, commercial, and residential developments. El Saadawy stated that the company is looking to diversify into new regions, further strengthening its investment footprint. Town Writers currently holds approximately 15 feddans of land earmarked for near-future development. The company is targeting EGP 600m in investments across its projects during the current year. Since its establishment, Town Writers Developments has been among the early investors in the NAC, with a portfolio that includes high-end commercial projects such as Downtown Mall I and II. In New Cairo, the company has delivered the Revolve project, while ongoing projects in the NAC include 88 HUB, Central Point, and Strip Mall. As for construction progress, El Saadawy noted that Downtown Mall I has reached 87% completion, with handover works underway. Downtown Mall II stands at 75% completion, while Revolve in New Cairo is 88% complete. Meanwhile, construction progress at the NAC projects is at 25% for 88 HUB, 17% for Central Point, and 10% for Strip Mall.
Zawya
6 days ago
- Business
- Zawya
Egypt's Town Writers ramps up construction activity in NAC and New Cairo
Egyptian private real estate developer Town Writers is accelerating construction across its portfolio in the New Administrative Capital (NAC) and New Cairo, designating 2025 as the 'Year of Construction.' Founder and Chairman Omar El Saadawy told Zawya Projects that they are working 'around the clock' to deliver on their commitments. He said Town Writers has allocated 600 million Egyptian pounds ($12.4 million) for construction this year and plans to inject an additional EGP 1.2 billion ($25 million) in 2026 to maintain delivery timelines and meet technical specifications. The company, among the early investors in the NAC, has delivered premium commercial projects such as Downtown Mall I and II, and is developing several other schemes including Revolve in New Cairo, and 88HUB, Central Point, and Strip Malls in the NAC. Construction milestones include 87 percent completion at Downtown Mall I, 75 percent at Downtown Mall II, and 88 percent at Revolve. In the NAC, 88HUB has reached 25 percent completion, Central Point 17 percent, and Strip Mall 10 percent. (1 US Dollar = 48.30 Egyptian Pounds) (Reporting by Marwa Abo Almajd; Editing by Anoop Menon) (
