Hassan Allam Developments company and Medar for Investment and Urban Development announced the development of a project under the partnership system within Medar-owned Mostakbal City. Hassan Allam Development acquired 279 acres to develop a multi-use project with investments totaling 35 billion pounds. The project will include a variety of models, ranging from independent villas and residential apartments to commercial and administrative units.
Mohamed Allam, CEO of Hassan Allam Development Company, stated that this is the third collaboration in Mostaqbal City, which has become a real estate destination for developers and investors in East Cairo. He explained that the new joint project being implemented by Hassan Allam Development in collaboration with Medar will achieve a breakthrough in the city.
Ayman El Kousy, Managing Director and CEO of Medar for Investment and Urban Development added that the new project would represent another achievement within “Mostakbal City,” reaffirming Medar’s constant keenness to contract with leading real estate development companies in Egypt and the region.
He pointed out that this agreement reflects the shared vision of Medar and Hassan Allam Development Company, which aims to develop integrated urban communities with the highest levels of quality and innovation to enrich customers with an exceptional residential experience. He emphasized the focus on leveraging the substantial expertise of both companies in developing the new project to achieve our shared goal of elevating “Mostakbal City.”
Ali stressed that Medar for Investment and Urban Development is striving to implement the concept of the general developer for integrated giant cities innovatively, enhancing the capabilities of our partners from developers and investors and making the Egyptian real estate market more attractive to regional and global developers. This is based on the selection of strategic locations, unique designs, and reliance on the latest international advancements in the field of establishing infrastructure for giant cities.
