Egyptian Developers has announced the launch of Attracta, a mixed-use project in El Shorouk City, as part of its expansion strategy to invest EGP 20 bn over the next five years, Invest-Gate reports. The announcement was made during a press conference attended by media professionals and industry experts.
Abdel Rahman Abu Zeid, Founder and Chairperson of Egyptian Developers, stated that Attracta is strategically located on Gamal Abdel Nasser Axis and the Eastern Front Road, at the third entrance of El Shorouk City, directly facing Al-Farouq Mosque. The project spans 13,000 sqm, comprising a ground floor and four additional floors, offering commercial, administrative, medical, and recreational spaces.
“Our goal is to create an integrated development that meets diverse client needs, providing units ranging from 30 sqm to 600 sqm,” Abu Zeid said. Construction is set to begin within three months of customer occupancy, with delivery scheduled three years from contract signing. The company has partnered with industry experts to ensure a high-quality development that enhances the investment value in Shorouk City.
Makhlouf Abd Rabo, CEO of Egyptian Developers, highlighted the company’s collaboration with InCommercial for management and operations, MH Architects for engineering consultancy, Maap for electromechanical consulting, and Setra Contracting for execution. These partnerships are expected to deliver a comprehensive and top-tier project.
The company plans to invest EGP 1 bn in construction this year, with all funding sourced internally. It also aims to expand into the North Coast and Ain Sokhna to diversify its investment portfolio. “We are targeting EGP 3 bn in sales this year, driven by Attracta’s launch and continued expansion of our existing developments,” Abd Rabo said.
Mohamed Mohy, founder of InCommercial, confirmed that his company will oversee the management and operations of Attracta to ensure optimal performance. Meanwhile, Mohamed Hendawi, Chairman of MH Architects, emphasized that their consultancy will ensure top-quality design and execution.
Ahmed Farouk, CEO of Maap, stated that his firm will handle the electromechanical aspects of the project, ensuring efficiency and sustainability. Mohamed Shoukry, founder of Setra Contracting, added that his company will be responsible for implementing all electromechanical works, reinforcing Attracta’s high standards.