Al-Tameer for Real Estate Development (TOREC DEVELOPMENTS), a subsidiary of the New Urban Communities Authority (NUCA), has announced the launch of new, fully finished units at its “T Residences” compound, located next to the Heritage City in New Alamein. Cash prices start at EGP 22,000 per square meter, Invest-Gate reports.

​Eng. Mohamed Anwar, CEO of TOREC DEVELOPMENTS, stated that the company has officially commenced unit handovers at “T Residences,” where development and finishing works are progressing at a rapid pace. He noted that the project’s first phase is slated for operation by Summer 2027.

​Anwar explained that the newly launched units range from 110 to 145 square meters. The compound offers a wide array of commercial and recreational amenities suitable for all family members, including swimming pools. Its prime location next to the Heritage City places it within close proximity to key vital and strategic services.

​He added that TOREC is committed to delivering exceptional management and operational standards, aligning with the directives of Eng. Randa Al-Minshawi, Minister of Housing, Utilities, and Urban Communities, to enhance customer satisfaction and drive long-term asset value.

​“T Residences” Spans 20 Acres; Phase One Set for Summer 2027 Launch

​Spanning 20 acres in a prime location within New Alamein City, the “T Residences” compound features residential buildings comprising a ground floor plus seven upper floors.

​For a limited time, TOREC is offering a special payment plan across both “T Residences” and its “T Pearl” project in New Sheikh Zayed, allowing clients to purchase units at cash prices with installments spread over one year.

​Recently, TOREC DEVELOPMENTS inaugurated its new branch on Boulevard Road within the Mazarine Compound in New Alamein.

TOREC Continues Its Expansion and Diversifies Its Real Estate Activities

​TOREC DEVELOPMENTS was established in 2015 under the name “Al-Tameer for Real Estate Development – Al Oula.”

Its founding shareholders included the New Urban Communities Authority (NUCA), Al Oula Mortgage Finance, MIDBANK, the Holding Company for Investment and Development, Misr Insurance, and Misr Life Insurance.

Initially founded with an EGP 5 million capital, it was swiftly increased to EGP 50 million, and later reached EGP 124 million in 2018.

​At the start of 2021, the company embarked on a strategic shift to expand across the Egyptian market and diversify its business portfolio, entering property development alongside its marketing services for NUCA projects.

​In August 2021, as part of its growth strategy, a new executive management team was appointed, led by Eng. Mohamed Anwar Helal as CEO. Consequently, NUCA increased its stake to roughly 67% of total shares, boosting the company’s capital to EGP 500 million in 2022.