Egypt-based Master Group has announced setting up a new real estate development and investment company in the United Kingdom, in a bid to reach out to more property investors and create additional investment opportunities overseas, Invest-Gate reports.
“The move, which is deemed to be first of its kind in the Egyptian real estate market, comes as a result of an Egypt-England partnership, in an attempt to also support the state’s efforts for exporting real estate abroad,” Master Group Chairman Mohamed Lashin was quoted as saying in a press release on September 30.
The new firm – also called “Master Group” – will work on two main axes: property development and exchanging of different visions and expertise between both ends, Lashin noted, explaining that the England-based company will promote the various development projects and new cities being undertaken now in Egypt, while also working to attract new investments to the local market.
The chairman also unveiled that Master Group is currently in negotiations to lay hands on two land plots in the UK to break ground on new integrated urban developments across the European country, in an attempt to convey the Egyptian building experience to the English market, underlining that more details will be announced soon.
Back in August, Master Group had announced plans to implement new projects in the New Administrative Capital (NAC), North Coast, Upper Egypt, and South Sinai by 2021, as highlighted in a previous official statement.