Re Developments has revealed its ambitious expansion plan for the final quarter of the 2024 financial year, Invest-Gate reports.

The company will announce new domestic and international contracts and open new branches. It plans to invest EGP 3 bn in a variety of unique projects.

Mohamed Ahmed Morsy, Chairman of Re Developments, explained that the company is undergoing internal restructuring as part of its strategic plan.

The goal is to elevate the company’s portfolio from standard residential projects to luxury housing, a key aspect of its future vision. One of the flagship initiatives in this expansion is the development of a fully integrated residential compound that offers commercial, entertainment, and medical facilities.

Moreover, Re Developments has signed contracts with a factory to produce aluminium and wooden doors specifically for the compound in pursuit of greater self-sufficiency in construction and finishing. Additionally, the company has partnered with Saudi-based Al-Rawad Al-Fareeda for IT and communication systems integration.

Also, Solar energy will play a significant role in the project. Plans to power 50% of the compound using solar systems are part of the green building and smart compound concept.

Furthermore, Re Developments is also preparing to open a new branch in Dammam, Saudi Arabia, to market its projects in the Gulf region and attract investors.

Notably, the company is exploring partnerships with Gulf-based investors to expand its regional footprint further, aiming to bring in foreign currency to bolster Egypt’s economy.