MRS Development marked the inauguration of its latest venture in the Egyptian market, Boulevard Mall, a mixed-use project spanning 3,000 sqm in the esteemed El Banafseg area, located at the heart of the Fifth Settlement, Invest-Gate reports.

Sary Mostafa, Chairman of MRS Development, highlighted that the launch of Boulevard Mall project coincides with the company’s third anniversary since entering the Egyptian market, culminating a legacy of over 22 years in construction and real estate development in the UAE.

Mostafa underscored the company’s decision to re-enter Egypt to partake in the urban development surge propelled by the Egyptian state under the leadership of President Abdel Fattah El-Sisi, particularly in infrastructure and urban development.

He expressed the company’s eagerness to expand its footprint in residential and commercial development within the New Administrative Capital and the North Coast in the near future.

Mostafa emphasized that MRS Development has successfully executed a range of residential projects in 6th of October City, The Settlements (El Lotus, El Andalus, El Yasmine, Rabwa El Tagamoa, North House), and North Rehab, maintaining a steadfast commitment to meeting international standards and earning customer trust.

In his remarks, Mohamed El-Douini, CEO of MRS Development, detailed that the strategic placement of the Boulevard Mall project in the Banfsaj Buildings area within the Fifth Settlement offers a prime location, overlooking key axes including North 90th Street, Mohamed Naguib Axis, Ahmed Shawky Axis, and Mostafa Kamel Axis.

El-Douini highlighted that the selection of the Boulevard Mall’s site was influenced by the high population density of El Banafseg area, ranging from 350,000 to 400,000 residents, and the commercial and entertainment allure characteristic of New Cairo as a whole.