EBNY Developments, MMG Ink Starbucks Deal for Upper Egypt Projects

EBNY Developments, MMG Ink Starbucks Deal for Upper Egypt Projects

Real estate developer EBNY Developments signed an agreement with franchiser MMG to bring Starbucks cafes to its projects in Sohag, Upper Egypt, Invest-Gate reports.

The deal will see branches opened at EBNY’s Greeny Avenue and Azalea Hub developments in New Sohag City. MMG owns franchise rights for Starbucks in Egypt and operates over 30 locations.

EBNY aims to differentiate its offerings and cater to Upper Egypt’s population through mixed-use communities with commercial and entertainment components, said EBNY’s Executive Director Mohamed Islam.

Chairman Abdullah Kamel has ambitious expansion plans for EBNY’s residential and leisure projects across the region employing advanced city models.

Islam said EBNY’s EGP 10 bn investment in Sohag represents the start of a series of projects in governorates like Qena and Assiut.

MMG CEO Mahmoud Al-Muzain expressed confidence in partnering with reputable EBNY due to demand and credibility in Upper Egypt’s nascent real estate market.

It marks the first time Starbucks will operate outside major cities in Egypt under rights given by international brand owners. The deal establishes a new benchmark for branded services in less developed markets.


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