Mass Developments, a leading real estate company, has announced the launch of a new mixed-use project on Gamal Abdel Nasser Axis in New Cairo, Invest-Gate reports.

The project, spanning 30,600 sqm, represents a significant investment of over EGP 22 bn.

Atef Monay, Chairman of Mass Developments, stated that this project is part of the company’s expansion strategy in the local market, building on its founders’ extensive experience of over 25 years in real estate development.

Moreover, the company has a strong track record in developing commercial centers, malls, and residential complexes, particularly in East Cairo, including New Cairo and the New Administrative Capital, with total investments reaching EGP 20 bn. Additionally, Mass Developments has undertaken residential and commercial projects in West Cairo, notably in the 6th of October City, with investments totaling EGP 15 bn.

Furthermore, Monay emphasized that Mass Developments was among the first companies to invest in the New Administrative Capital, recognizing it as the city of the future with promising potential for the real estate market in Egypt. He noted that projects in the capital are currently yielding the highest returns on investment in the country, with further growth expected as additional phases are launched.

The company has also strategically positioned itself to overcome challenges in the local market, particularly rising costs, by operating three factories in Abu Rawash. With a combined investment of EGP 500 mn, these factories specialize in producing modern building materials for local and international markets under the “Proudly Made in Egypt” brand.

Monay highlighted that Mass Developments’ diverse portfolio, concentrated in newly established cities across Egypt, underscores its commitment to contributing to urban development.
Notably, the company’s strategic land holdings across various locations reflect its ambition to become a major player in Egypt’s real estate sector, not confined to a single area.