Al Boroj Development, a prominent company in the Egyptian real estate market, has entered into a strategic alliance with the Egyptian-Chinese company Foten to develop and manage the largest specialized commercial project in Obour City, Invest-Gate reports.

The investment cost for this project exceeds EGP 1.6 bn.

Ahmed Ezzat, Chief Commercial Officer of Al Boroj Development, explained that as part of this strategic cooperation, the company will oversee the management and development of the largest commercial project specializing in the trading of various types of fabrics, known as “El Souq.”

Ezzat emphasized the company’s goal of providing a qualitative and unique product with a fresh and innovative concept. The aim is to create a commercial market dedicated to textile trade, offering an ideal and integrated environment for this extensive trade sector. The project will include essential supporting services, such as shipping companies, packaging and accessory stores, manufacturing and sewing machines, banks, restaurants, garages, and cafes.

Regarding the project’s location, Ezzat highlighted its distinction as it is situated directly on the Obour Axis, adjacent to the services of the First Industrial Zone and near Carrefour El Obour.

Ezzat further stated that the market project aligns with the company’s expansion and future plans, which revolve around implementing the largest specialized commercial project in Obour City—a destination now attracting investors and entrepreneurs.

The development of road networks in the area, supported and guided by President Abdel Fattah El-Sisi, has contributed to the city’s accessibility and proximity. Obour City is poised to witness comprehensive urban growth in real estate development, industry, and trade.

Ezzat mentioned that the company’s plan involves implementing a series of similar projects to provide a distinctive real estate product that builds upon the company’s previous work and caters to a new segment of customers.