Emaar Alex Developments and SIA Business Development have signed contracts for the management, sale, and marketing of the La Baia Sidi Abdel Rahman project, with total investments amounting to EGP 4 bn, Invest-Gate reports.

This collaboration aims to strengthen their presence in the Egyptian real estate market.

Mohamed Elhanash, Chairman of the Board of Directors of Emaar Alex Developments, revealed that the project’s investment volume reached approximately EGP 4 bn over a three-year period and will be delivered in three phases during that timeframe.

Ahmed El-Haddad, CEO of SIA Business Development, confirmed that the company’s investment volume this year reached around EGP 7 bn, marking a significant increase compared to the previous year. The company possesses extensive experience in developing, managing, and marketing real estate projects across various sectors, including residential, tourism, and commercial projects.

The company has collaborated on several residential projects under the Ministry of Housing, as well as tourist projects located along different Egyptian coastlines, such as Ras Sedr, Ain Sokhna, the North Coast, and Sharm El Sheikh.

Furthermore, the company is involved in developing and managing commercial, administrative, medical, and tourism centers in various areas, including the New Administrative Capital (NAC) and the Fifth Settlement, all bearing the distinctive SIA signature.

Sayed El-Roubi, one of the founders of SIA Business Development, emphasized that the collaboration between Emaar Alex Developments and SIA is a significant step for both companies.