Egypt’s luxury real estate market received a powerful boost this week as Emaar Misr for Development, a subsidiary of UAE-based Emaar Properties PJSC, signed a $1.6 billion (EGP 78 billion) agreement with Saudi Arabia’s Dallah Albaraka Holding Company to develop a new high-end residential community in Katameya, New Cairo. The project, covering 380 acres, is set to become one of the largest and most prestigious developments in East Cairo, combining Emaar’s architectural expertise with Dallah Albaraka’s regional investment reach.
According to the statement released by Emaar, the new development is expected to generate returns of approximately $2.44 billion (EGP 117 billion). Designed with Emaar’s signature integrated community model, the project will feature luxury villas, landscaped public spaces, boutique retail areas, and a network of sustainable amenities aligned with Egypt’s green building agenda. The announcement comes amid a series of high-profile Emaar initiatives — including Mivida Gardens and Marassi Red Sea — that reflect the company’s ongoing expansion and its long-term commitment to redefining premium urban living in Egypt.
Mohamed Alabbar, founder of Emaar Properties, emphasized that the partnership with Dallah Albaraka represents confidence in Egypt’s long-term real-estate fundamentals. “The Egyptian property market continues to offer great potential, and we are focused on delivering projects that uphold the highest quality standards and prioritize our customers’ comfort,” he said. Alabbar revealed that Emaar’s total investments in Egypt now exceed EGP 1.878 trillion, with a land portfolio surpassing 34.6 million square meters. He added that the company is implementing a new growth plan aimed at doubling its investment footprint in the coming years as Egypt’s housing and urban sectors expand.
From Dallah Albaraka’s side, CEO Abdulaziz Yamani described the agreement as a milestone in the Saudi group’s regional investment strategy, underlining the growing confidence of Gulf investors in Egypt’s economy. “We are working with Emaar Misr to develop a unique destination that will make a lasting contribution to Cairo’s urban landscape,” Yamani said, adding that the partnership aligns with the group’s broader strategy to diversify across high-growth regional markets.
The Katameya project’s location in New Cairo — a rapidly developing urban extension attracting both domestic and foreign investors — further enhances its strategic significance. The district, home to many embassies, schools, and corporate headquarters, has become synonymous with modern luxury living. The project will likely be executed in multiple phases over the next several years, beginning with infrastructure and early residential zones, while maintaining the integrated-living concept that distinguishes Emaar’s global portfolio.
This new agreement follows a series of strategic ventures by Emaar Misr. In September 2025, the developer signed partnership contracts with the Egyptian government and City Stars Group to launch its Marassi Red Sea project in the Red Sea Governorate — a flagship tourism and residential complex designed to strengthen Egypt’s coastal luxury offering. In addition, Emaar is reportedly preparing another major deal with the government to develop the Alam Al-Roum coastal area on the Mediterranean.
The timing of the Emaar–Dallah Albaraka partnership also coincides with Egypt’s ongoing economic reform discussions with the International Monetary Fund (IMF) under its $8 billion Extended Fund Facility (EFF). Attracting foreign direct investment and expanding private-sector participation remain key objectives under the program. The entry of large-scale Gulf capital into Egypt’s real-estate and infrastructure sectors complements these policy goals, offering both fiscal support and long-term economic diversification.
Beyond its financial scale, the new Katameya project underscores a broader narrative: Egypt’s emergence as a hub for regional real-estate collaboration and urban transformation. For Emaar, it represents another cornerstone in its vision to export its luxury-lifestyle model beyond the Gulf. For Dallah Albaraka, it signals renewed Saudi confidence in Egypt’s investment climate and a tangible contribution to its expanding urban frontier.
