Chief Executive Officer of Egypt’s Hyde Park Properties, Amine Serag, told Al Borsa News that the real estate company is heading towards further expansions in the Egyptian real estate market, through two new projects: “Serenity” and “Hyde Park Residence.”
Serag also said that his firm is looking forward to expanding throughout the country. “The firm has overcome logistical obstacles and is currently working on a plan to provide solid infrastructure for the Hyde Park projects,” Serag continued.
“The projects are taking place in Egypt’s New Cairo over a 6 million square meters area, overlooking Street 90 and the Ring Road,” Serag added at the 2016 Cityscape Real Estate Fair. Hyde Park’s Executive Manager Maged Salah El Din told Amwal Al Ghad that his firm targeted a sales volume of EGP 1.5 billion at the end of 2015. The company did achieve a sales volume of 800 million Egyptian pounds by the middle of June 2015.
Hyde Park Properties was founded under the name of Damac for Development in 2007. In 2011, the name was changed to Hyde Park Properties after two banks and a holding company acquired over 88.2% of the company shares. Hyde Park is now a strategic member and developer of the New Urban Communities Authority (NUCA).