City Edge Developments – a leading company in real estate development and asset management in the Egyptian market – announced the signing of a memorandum of understanding for cooperation and strategic partnership with AlGammal Holding, in a step that reflects City Edge’s strategy based on cooperating with major specialized entities to enhance the quality of its projects and expand the scope of its business locally and regionally, Invest-Gate reports.
The memorandum of understanding focuses on joint investment in the development of real estate projects and other projects through integrating City Edge’s expertise in integrated development with the executive and engineering expertise of AlGammal Holding, especially in the fields of infrastructure and utilities.
This partnership comes within City Edge’s vision to strengthen its position as a leading real estate developer through building long-term strategic partnerships, ensuring the implementation of high-quality projects according to global standards, and achieving high execution efficiency, speed of delivery, and sustainable added value.
On this occasion, Eng. Tamer Nasser, CEO of City Edge Development, stated that signing the memorandum of understanding with AlGammal Holding represents an important strategic step, as it reflects the company’s commitment to enhancing cooperation between its deep expertise in real estate development and AlGammal’s expertise in implementing infrastructure and utilities. This enables the delivery of integrated, high-quality projects and the expansion of the company’s business scope domestically and internationally, supporting the growth of the Egyptian market and enhancing the competitiveness of both parties at the regional and international levels.
Nasser added that City Edge’s strong track record in developing residential, commercial, and administrative projects makes it a trusted partner capable of leading major projects, stressing that this cooperation enhances achieving integration between planning and execution in an effective and coordinated manner.
In this context, Eng. Taha Al Gammal, Chairman of AlGammal Group, stated that they are enthusiastic about strengthening this partnership, as the partners’ activities integrate to deliver comprehensive models that reflect the latest achievements of each party in the fields of infrastructure and real estate development. He confirmed that the successful models implemented by City Edge will add success to what AlGammal Group has achieved across the Arab Republic of Egypt, as well as in the Kingdom of Saudi Arabia, Iraq, and Libya, where the group’s projects are located.
Under the agreement, both parties will work on developing an integrated model for real estate projects based on early coordination between the developer and the executor, to improve resource management, reduce costs, minimize technical risks, and accelerate the pace of implementation while ensuring the highest levels of quality.
The partnership also allows AlGammal Holding to participate in the execution of large-scale projects locally and regionally and benefit from its expertise in infrastructure and utilities, while enabling City Edge to enter new markets and enhance its competitiveness in winning sustainable investment projects.
The memorandum of understanding achieves a set of strategic gains for both parties, including improving execution efficiency, expanding the scope of business, enhancing competitiveness, and exchanging technical and administrative expertise, contributing to the development of human capital and improving work mechanisms in line with global best practices.
This agreement is considered a strategic step to build a long-term partnership that supports the growth and expansion plans of both City Edge and AlGammal Holding, strengthens their position in the real estate investment market, and achieves sustainable economic returns in the medium and long term.