Mostafa Mohsen, Chairman of Empire State Developments, has disclosed that the company is currently evaluating numerous investment ventures in both East and West Cairo, Invest-Gate reports.
He elaborated that the focus is on the cities of New Zayed and New Sphinx in West Cairo, alongside plans to secure land within the New Administrative Capital (NAC) in East Cairo due to the lucrative investment potential and promising returns of projects within that region.
During a press conference hosted by the company, Mohsen articulated that Empire State Developments aims to inject EGP 17 bn into upcoming projects in the coming years. The company is actively exploring diverse investment opportunities to meticulously select the most advantageous options, in accordance with its steadfast strategy of pinpointing prime locations to maximize returns for its clientele.
Additionally, Mohsen revealed that Empire State Developments is on the brink of announcing a strategic partnership with a prominent Saudi entity. This collaboration is set to channel joint investments into both nations, highlighting the fruitful nature of partnerships between Saudi and Egyptian companies across various sectors, particularly real estate, where past collaborations have underscored the efficacy of this enduring synergy.
Emphasizing the company’s robust financial stability, Mohsen underscored its capability to execute projects punctually and uphold commitments to clients, while maintaining a varied investment portfolio spanning industries, real estate development, and contracting.
In terms of ongoing projects, Mohsen underscored the significance of the “El Centro Mall” venture within NAC, strategically positioned in the heart of the Downtown area across a 5,231 m2 expanse. The mall comprises a ground floor alongside 15 additional floors.
Regarding the “Cyan” tourism project in South Sinai, Mohsen detailed its launch in Ras Sudr city, a mere 100-minute drive from Cairo, offering customers the opportunity for brief getaways.
He outlined that the project integrates comprehensive amenities, with 30% of construction already completed. The development encompasses 473 units encompassing twin houses, chalets, and studios, complemented by a 100% sandy beach, four swimming pools, a 4-star hotel, kite surfing facilities, beach games, a children’s play area, and an array of cafes and restaurants, rendering the project a fully serviced and year-round residential option.
