Retal Developments has announced the full acquisition of Center Point Development, which owns the Harmony business complex in the New Administrative Capital (NAC).
Saeed Hassan, the chairperson of Retal Developments, said: “This acquisition is part of our expansion plan to increase and diversify our business. Center Point is one of the active players in the Egyptian real estate market, which boosts the presence of Retal Developments in this promising sector.”
Hassan added that Retal Developments has a land bank in the Egyptian real estate market worth more than EGP 3bn, with various residential and tourism projects, such as Retal View Resort in Ain Sokhna and Retal View Resort in North Coast. He also revealed that the company plans to launch new projects in the second half of this year.
He pointed out that Retal Developments follows an expansion strategy that aims to diversify its project portfolio and cover different regions in the Arab Republic of Egypt to cater to the needs of its customers. He also said that Retal is exploring opportunities to enter other markets, such as Saudi Arabia and the Gulf region.
He stated: “Harmony Business Complex is a commercial administrative project that we are currently offering for sale. It was acquired with a vision and a methodology that align with the demands of the real estate market and the strategic plan of Retal. We will soon hold a press conference to announce our plans and vision for the Harmony Mall.”
The Harmony Business Complex is located in the Downtown area of the NAC on a land area of 2,704 sqm. It consists of 11 floors and is expected to be delivered in September 2026.
