The Ark Development launches its operations in the Egyptian real estate sector with up to EGP 30 bn in investments, Invest-Gate reports.
The company receives huge investments from a host of companies including Organi Group, Al-Safi Group, and Arabella Group.
CEO of The Ark Development, Ossama Abou Alam, notes that the company is seeking to offer outstanding property projects planned based on a successful international portfolio and studying customer needs.
“The Egyptian Real Estate market is full of many promising opportunities, as it is witnessing an increasing growth and a significant construction boom, making it one of the most important, strategic sectors that contribute to the overall national income,” Alam states.
He stresses that the company has carried out many studies to identify the needs and aspirations of the Egyptian customers, which gave the company the ability to provide innovative projects that complies with the international specifications.
The company’s first project is situated in one of the most premium locations in East Cairo; the Fifth Settlement in New Cairo. In addition, the company embraces a strategy that aims at reinforcing the Egyptian real estate sector, which they are keen on fostering via distinct business models of real estate projects.
The Ark focuses on developing mixed-use residential, administrative, commercial, and hotel projects. It owns The Ark project which is situated on 92 feddans in South Teseen street in the Fifth Settlement district.