Real estate developer Muroj, a subsidiary of Hawash Group, and urban planning firm OCTA are preparing to launch what they describe as the first and largest specialized gold market in Egypt and the Arab region — “Souq Al Dahab” in Obour City, Invest-Gate reports.

The project will include showrooms for leading gold manufacturers and brands in the Middle East, retail stores, workshops, a hotel, restaurants, and celebration halls. The market will use AI technology and be equipped with international-grade security standards.

“This project marks a leap for real estate investment in Egypt and aligns with the state’s vision to attract foreign investment and increase foreign currency resources,” said Mohamed Hawash, Chairman of Muroj and owner of Hawash Group.

Hawash explained that the alliance follows a strategy of integrating real estate and industry to build specialised investment hubs, citing the earlier launch of “Souq Al Qomash” (Fabric Market) in collaboration with the Egyptian-Chinese company in Obour.

He added that Egypt’s gold exports surged by 882% in the first two months of the year, reaching USD 2.08 bn. “This market will capitalise on the demand, especially in Obour, which hosts 13 gold factories and Egypt Gold School, the first public technical school for jewellery manufacturing.”

Muroj has already signed with major industry players, including Ihab Wassef, head of the Gold and Precious Metals Division, and Mohsen Fawzi of  the owner of King Gold factory. Two more branches are planned in Mansoura and another governorate.

“We aim to launch a new market every year. In ‘Souq Al Dahab’, 50% of the units will remain under company ownership and be leased,” Hawash added.