Hassan Allam Properties (HAP), a leading real estate developer in Egypt, has acquired a new 279-feddan land plot in MIDAR’s Mostakbal City, marking a significant expansion in one of Egypt’s fastest-growing real estate markets, particularly in East Cairo.
The EGP 35bn mixed-use development will offer a variety of residential options, including single and multi-family homes, and extend into commercial spaces to cater to diverse lifestyle needs, promoting an integrated living experience.
Mohamed Allam, CEO of HAP, remarked on the acquisition: “This move aligns with our strategic vision to grow our land assets and presence. It reinforces our strong partnership with MIDAR, building on the success of Haptown and The Valleys, and continues our joint vision for Mostakbal City.”
Haptown has sold 93% of its units across 140 feddan, featuring 5,000 homes for both single and multi-family living. The Valleys, spanning 110 feddan, has also seen significant sales since its launch in late 2023.
Ayman Elkousey, Managing Director and CEO of MIDAR, shared his enthusiasm: “We’re thrilled to partner with Hassan Allam Properties again. Our past collaborations have been successful, and we’re committed to creating sustainable, community-focused developments. We’re eager to apply our expertise to this new project and enhance Mostakbal City’s status as a top destination.”
