New Event Developments is preparing to launch its latest project in the New Capital, coinciding with a surge in construction activity across its existing projects in the Egyptian and Saudi markets. The move aims to enhance the company’s presence in both local and regional markets while maintaining a balance between its ongoing expansion plans and its commitment to current developments, Invest-Gate reports.

Balanced growth strategy in the Egyptian market

Dr. Hamid Al-Rgwy, Chairman of New Event Developments, said that launching the new project reflects the company’s confidence in the Egyptian market and reaffirms its commitment to a balanced growth strategy based on well-planned expansion and simultaneous implementation both inside Egypt and abroad, supported by clear plans and strong financial solvency.

He added that the anticipated project in the New Capital represents an extension of the company’s vision to select strategic locations with high investment potential and deliver real estate products that meet market aspirations while reflecting the quality standards the company adopts across its projects.

Strong expansion in the Saudi market

Al-Rgwy noted that New Event Developments successfully launched three projects in Jeddah, Saudi Arabia, in less than a year—Jidia Towers, Sakan View, and Sakan View 2—while preparing to introduce its fourth project soon as part of its expansion strategy in the Saudi market.

He added that the company has also acquired several plots of land in strategic locations across Jeddah to support its sustainable growth plan and enhance its ability to develop projects that meet the needs of the Saudi market. The company is also preparing to expand into Riyadh as part of a broader strategic plan aimed at strengthening its presence in the Kingdom’s most dynamic cities.

Alignment with Saudi Vision 2030

Al-Rgwy emphasized that the company is keen to participate in the urban development boom taking place in Saudi Arabia, in line with Saudi Vision 2030, which represents an ambitious development framework that enhances real estate investment opportunities and creates a supportive environment for growth.

He added that the company’s expansion in the Kingdom is based on comprehensive market studies and a deep understanding of clients’ needs, alongside a strong commitment to high-quality standards in both design and implementation. He also highlighted the importance of adhering to project timelines, noting that disciplined execution is a key factor in strengthening investor confidence and building a long-term reputation in the Saudi market.

Focus on sustainable growth and brand building

Al-Rgwy noted that the company’s objective is not merely to increase the number of projects, but rather to achieve sustainable growth and establish a trusted real estate brand with a significant presence in Saudi Arabia.

Accelerated construction progress in Egypt

Regarding the Egyptian market, Al-Rgwy confirmed that the company continues to execute its projects at an accelerated pace. The concrete structure of the H Mall project has been fully completed and finishing works are currently underway, while 75% of the concrete structure of the Treve project has been completed. Meanwhile, excavation works have been finalized and construction has begun on the Qamari project.

He concluded that this construction progress, along with preparations for launching a new project in the New Capital, reflects the company’s operational strength and its ability to efficiently manage multiple projects across different markets.