Ahmed Samir El Dessouki, the Chief Commercial Officer of Gulf Development, has confirmed that the company’s investments in 2024 will exceed EGP 20 bn, encompassing five diverse projects, Invest-Gate reports.

El Dessouki stated that Gulf Development will initiate two projects within the first half of 2024 as the initial phase of its investment plan. The first project is a residential compound consisting of 60 villas located in Sheikh Zayed. The second project is the first mega mall in Badr City, covering an area of 25,000 sqm and requiring an investment of EGP 5.2 bn.

He further mentioned that three additional projects will be implemented during the year in the green belt area of New Sheikh Zayed, west of Cairo.

El Dessouki emphasized that the company’s board of directors continuously seeks to introduce unique offerings to the real estate market. He highlighted that Badr City will witness the introduction of a distinct mega mall featuring modern ideas and international brands, which will be a first for the city.

Providing details about Gulf Development’s projects, El Dessouki mentioned that the company is currently offering a residential compound in the Green Belt, specifically in Basin No. 2, Gate No. 1. The compound consists of 60 villas ranging in size from 255 to 365 sqm, with prices ranging from EGP 12 mn to EGP 15 mn.

The second project is the Mega Mall in Badr City, situated on a 25,000 sqm plot of land adjacent to Badr University and the National Bank of Egypt. The mall will be developed in three phases, each covering an area of 8,400 sqm. It will feature a ground floor and two additional floors, with prices starting from EGP 2 mn.