SAM Developments, the real estate arm of the long standing SAMCO Group, has announced a comprehensive expansion plan in the Egyptian real estate market, Invest-Gate reports.
Sales Targets and Investment Portfolio
The company revealed its target of EGP 4 bn in contractual sales for its flagship project, “SAM Wave,” in the New Capital, alongside the implementation of other projects with investments exceeding EGP 8.5 bn across various regions.
Company Background and Experience
Dr. Eng. Abdel Rahman Abdel Gayed, Chairman of SAM Developments, stated that the company represents the culmination of over 33 years of cumulative experience from SAMCO Group, founded in 1993. He emphasized that the shift toward real estate development reflects a philosophy aligned with Egypt’s major urban boom, backed by a track record that includes the execution of over one million square meters of fully finished buildings and 20 million square meters of infrastructure projects for major entities.
Board of Directors and Contributions
Dr. Abdel Rahman noted that the company’s Board of Directors includes prestigious engineering figures, including Eng. Sayed Farouk and Eng. Mustafa Nada, ensuring adherence to the highest construction standards and delivery timelines. He also expressed pride in the Group’s contribution to nation building through the construction of 150 schools, 50 post office branches, and 17 healthcare facilities, in addition to strategic infrastructure projects within the New Capital.
Investment Portfolio Details
From his side, Mr. Ahmed Sabry, CEO at SAM Developments, disclosed details regarding the current investment portfolio, which strategically focuses on West Cairo and New Cairo, “Chief among them is the ‘FUSION’ project on the 26th of July Axis; an integrated commercial, administrative, and medical complex with an investment volume of 750mn EGP.”
SAM Wave Project Overview
He highlighted that the company launched the “SAM Wave” project in the New Capital (MU23), spanning 7,400 square meters. He confirmed that buildings occupy only 30% of the area to ensure sustainability, with the structure consisting of a ground floor and 9 levels comprises of commercial, administrative, and medical units.
Construction and Investment Plans
Sabry announced that the company intends to inject EGP 1bn in investments during the current year to accelerate the pace of construction. Leveraging its ownership of all necessary equipment and technical personnel, the company aims to complete projects ahead of schedule.
Green Architecture and Partnerships
He emphasized that the company adopts the concept of “Green Architecture” in its projects by relying on solar energy and smart systems, in collaboration with leading partners such as Arcreete Engineering Consultants, led by Eng. Mohamed Tammam. Additionally, the company provides innovative solutions, such as advanced nurseries within its commercial centers to support the working environment.
Sales Strength and Market Outlook
The company’s CEO added that SAM’s sales strength is derived from the Group’s history, which includes the development of over 100 residential towers in Cairo’s finest neighborhoods and a client base that includes major financial institutions such as the National Bank of Egypt and Banque Misr. He pointed out that the company is preparing to launch a major project in the Fifth Settlement soon, as part of a portfolio that currently includes four strategic plots of land, stressing that the Egyptian real estate market remains the “safe haven” for investment, capable of growth, recovery, and offering unprecedented opportunities amidst the current urban renaissance.