Retal Developments has completed the acquisition of Center Point Development and its flagship property, the Harmony Business Complex, situated in the New Administrative Capital (NAC), Invest-Gate reports.

The Harmony Business Complex, a pivotal commercial and administrative hub spanning 2,704 square meters in the NAC’s Downtown area, boasts an enviable location and architectural design. Retal Developments aims to commence handovers of the complex by September 2026, following meticulous planning and execution in line with market dynamics and the company’s strategic vision.

An extensive press conference will be held in the coming weeks to unveil Retal Developments’ comprehensive plans and vision for the Harmony Mall.

For his part, Saeed Hassan, Chairman of Retal Developments, revealed that the acquisition aligns with the company’s strategic expansion plan to broaden and diversify its business interests. Center Point Development, a prominent player in the Egyptian real estate sector, bolsters Retail Developments’ presence in the burgeoning market.

Hassan emphasized Retal Developments’ substantial investment in Egypt’s real estate sector, exceeding EGP3 bn, encompassing a range of residential and tourism ventures. Notable among these are the Retal View Resort in Ain Sokhna and the Retal View Resort in the North Coast. The company anticipates unveiling several new projects in the latter half of the year.

Highlighting the company’s expansion strategy, Hassan underscored its ambition to diversify its project portfolio and extend its reach across different regions of Egypt, catering to diverse investment demands. Retal Developments is also eyeing entry into markets such as Saudi Arabia and the Gulf region.