Mountain View, a leading real estate developer in Egypt, plans to invest EGP 30bn in construction works during 2025, according to Amr Soliman, the company’s Founder and Chairperson. The company also announced it will launch its first real estate project in Saudi Arabia next November.
Soliman said that the company’s strategy focuses on two main pillars: accelerating construction rates of its diverse projects and adhering to delivery schedules with clients, in addition to expanding in both local and international markets.
The company has allocated EGP 15bn for construction in the current year, and Soliman explained that the company has successfully achieved contractual sales exceeding EGP 80bn in its projects since the beginning of the year, out of a total target of EGP 110bn by the end of 2024.
Soliman noted that the proportion of sales to foreigners and Egyptians working abroad exceeded 25% of the company’s total sales, noting that this percentage is expected to increase in the coming period. He pointed to the Ras El Hekma deal as a significant contributor to attracting foreign investors and clients.
“We can expect to see price increases in real estate during the upcoming period,” Soliman said. He explained that commercial and administrative projects have witnessed a boom in several areas, including the Fifth Settlement, the New Administrative Capital, and the Sixth of October.
Soliman said that Mountain View is set to launch its first real estate project in Saudi Arabia next November, in partnership with Maya Development and Investment Company and Al Saedan Real Estate. He added that the company is currently exploring several new investment opportunities in the Saudi market, focusing on both residential and commercial administrative projects, noting that these will be under a partnership model with either the government or the private sector.
Soliman also mentioned that the company aims to launch three new real estate projects in the North Coast, the Sixth of October, and New Cairo next year, with a total targeted contractual sales of EGP 140bn.
The company has a large land portfolio that allows for expansion, he said. Mountain View is preparing to launch a project in the North Coast covering approximately 1,200 acres, and it also owns another piece of land in the Sidi Abdel Rahman area, spanning 900 feddans.
Soliman stated that Mountain View aims to introduce a comprehensive urban project in the Sixth of October over an area of 700 feddans.
He added that Mountain View is always striving to establish partnerships with various entities and acquire new land in Saudi Arabia to expand its operations and make a positive impact in the communities it serves. He explained that Saudi Vision 2030 aims to achieve comprehensive urban development and the thorough development of Saudi cities, which provides significant opportunities for developers and investors to participate in these projects and achieve lucrative investment returns. The Kingdom has identified the housing sector as one of the key pillars of Vision 2030, and the Saudi Ministry of Housing aims to establish 300,000 housing units over the next five years in partnership with the private sector.
