Maxim Investment Group took a significant step towards completing the Maxim North Coast Project by announcing a major strategic partnership with The MarQ Communities during a press conference, Invest-Gate reports.

This partnership, considered the largest in the real estate market in 2023, designates The MarQ as the project developer for the largest village on the North Coast, with a total investment of EGP 120 bln.

The signing ceremony was attended by Mohamed Karrar, Chairman of Maxim Investment Group; Mohamed Samir, CEO of Maxim Investment Group; and Amr Badr, Chairman and CEO of The MarQ Communities.

Moreover, this partnership highlights Maxim Investment Group’s commitment to finishing its largest project on the North Coast, which spans 900 acres. The goal is to deliver all the delayed units to customers within 36 months by investing EGP 3 bln.

The first phase is set to be delivered in 2024. The MarQ Communities, known for their modern vision as well as strong financial and technical capabilities, will play a pivotal role as the project developer. At the same time, Maxim Investment Group retains 100% ownership of the land.

The signing comes after Maxim Investment Group successfully resolved various challenges, including transferring the project’s jurisdiction from Matrouh Governorate to the New Urban Communities Authority through a ministerial decision.

Construction is scheduled to commence this October. As part of the strategic partnership agreement with The MarQ Communities, they will oversee all aspects of the project, including marketing and development, to ensure the completion of the remaining work according to the agreed-upon master plan and timeline.

Karrar stated, “Our primary mission is to build and develop various sustainable and diverse projects. This aligns with Maxim’s commitment to contributing to economic growth through strategic investments in the hospitality, real estate development, trade, and business solutions sectors. The partnership with The MarQ is a significant strategic move to enhance our activities and achieve its investment objectives.”

Furthermore, Samir added, “This partnership reflects our wise vision to collaborate with major entities in developing projects both inside and outside Cairo. Our main goal is to accelerate execution rates and construction processes for the speedy delivery of contracted units according to the latest architectural standards.”

In the same context, Badr emphasized their mission to create modern and inspiring urban communities by developing international landmarks and tourist projects in Egypt. “Our mission is to create modern and inspiring urban communities through developing international landmarks and touristic projects in Egypt.”

Also, The MarQ Communities and Maxim Investment Group signed an agreement with INEX, a prominent company specializing in engineering and construction services. With a total investment of EGP 3 bln, this partnership aims to expedite the construction and delivery of the project while maintaining the highest quality.

It is worth noting that two phases of the Maxim North Coast project were previously launched, namely Bo Islands and Bo Sands, offering a variety of units, including chalets, townhouses, and villas.