Misr El Gadida Housing and Development Company has made a strategic leap in its growth trajectory by acquiring a 766-feddan land plot in Hadayek Al-Asimah, valued at a substantial EGP 12.118 billion. This acquisition underscores the company’s enduring commitment to expanding its footprint in Egypt’s burgeoning real estate market.
The company has successfully completed the initial down payment and has structured an installment plan to cover the remaining amount over the next eight years. This aligns seamlessly with its financial strategy and self-development goals, ensuring sustainable growth. “This acquisition is pivotal in reinforcing our position as a leading real estate developer,” stated Sameh El-Sayed, Managing Director and CEO of Misr El Gadida.
The newly acquired land is strategically located near Cairo, New Heliopolis, and Madinaty, making it an ideal site for future development. This location is expected to benefit from Cairo’s ongoing infrastructure upgrades, including new road networks and transportation links, aimed at enhancing connectivity. According to the Ministry of Housing, Utilities & Urban Communities, these initiatives are projected to boost the real estate sector’s growth by 15% over the next decade.
In tandem with the Hadayek Al-Asimah project, Misr El Gadida is actively developing 300 feddans in New Heliopolis. The first phase, spanning 25 feddans, awaits ministerial approval and is designed by the renowned ECG Engineering Consultants. This development is part of a broader plan to transform New Heliopolis into a residential and commercial hub.
In an exclusive update, insiders reveal that Misr El Gadida is in discussions with international investors to form joint ventures that could bring global expertise and investment into the Egyptian market. These partnerships are expected to foster innovation and sustainability in upcoming projects.
