Shoura Group, specialized in agribusiness and industrial investments, is set to enter the real estate sector through launching Developer X company.
Chairperson of Shoura Group, Ashraf El-Shiaty, said state officials currently provide great support to real estate developers through providing lands, facilitating procedures for obtaining building licenses, and launching financing initiatives.
El-Shiaty unveiled that Developer X will introduce two property projects with a total investment of EGP 3bn in New Cairo and the 6th of October cities.
Managing Director and CEO of Developer X, Ahmed Fouad, said the new company partnered up with five strategic agencies in the real estate field, including SA Architects, Consultancy, architectural, and engineering; Arabian Peninsula, a contracting company; INComercial, for commercial project management; and finally Awkward Holding and 199X as a marketing company.
“Partnering up with Saad El Din Group, We are set to launch an integrated commercial, administrative, and social project in New Cairo, with a total investment of EGP 1.6bn. Our second project will be residential in the 6th of October city, with a total investment of EGP 1.4bn,” Fouad said.