Building on an ambitious strategy focused on local, regional and global expansion, Tatweer Misr has strengthened its presence in the local market with a portfolio of projects spread across East and West Cairo and the North Coast.
Ahmed Shalaby, President and CEO of Tatweer Misr, stated that the company’s strategy, announced on the very first day of its establishment, focuses on expanding in the Egyptian market and building a strong project portfolio to maintain the company’s leading position in the market. The next step is regional expansion, with the choice of the Kingdom of Saudi Arabia being based on the presence of significant investment opportunities and facilitation for foreign investors.
He revealed the company’s plan to venture into Oman, noting that an Omani delegation, headed by the Omani Minister of Housing, recently visited the IL Monte Galala project in Ain Sokhna. Tatweer Misr subsequently visited Oman to explore avenues for collaboration with local officials, especially given the strong understanding and shared vision with the Omani side.
He pointed out that Tatweer Misr aims to achieve contracted sales of EGP 32bn during 2024, having already reached EGP 21bn in the first half of the year. This reflects the company’s ability to offer real estate projects that meet the needs of its target clients, as well as the increasing demand in the real estate market. He noted that the company plans to deliver 5,000 units across its projects in 2024.
He pointed out that the company has allocated investments of EGP 10bn for construction in its existing projects, compared to EGP 6bn in 2023. The company aims to accelerate execution rates while maintaining the highest quality standards in its projects, thus preserving client trust and enhancing its credibility in the real estate market.
He stated that 75% of Tatweer Misr’s sales in the first half of the year were made to clients from abroad, adding that the North Coast market is expected to lead sales this year, with its share not dropping below 60% of the total market sales, as it remains the most sought-after and highest-priced destination.
Shalaby pointed out that the company’s strategy, announced on the very first day of its launch, focuses on expanding in the Egyptian market and building a strong portfolio of projects to maintain the company’s leading position in the Egyptian market. The next step is regional expansion.
He revealed the company’s plan to target the Sultanate of Oman, where an Omani delegation led by the Minister of Housing visited the IL Monte Galala development in Ain Sokhna. Tatweer Misr later visited Oman to explore cooperation opportunities with its officials, especially given the significant understanding and shared visions with the Omani side.
Shalaby further highlighted the importance of focusing on real estate funds, which represent one of the easiest and simplest mechanisms for attracting investors, as well as the need to implement corporate governance at the company level.
He added: “Tatweer Misr is exploring several new investment opportunities in the Egyptian real estate market, particularly in east Cairo, west Cairo, North Coast, and New Administrative Capital. Additionally, the company seeks large spaces in its projects to offset any financial losses resulting from price fluctuations during the project’s execution.”
He also mentioned that the North Coast has successfully attracted the attention of both local and foreign investors, especially following the government’s significant efforts to promote the area, similar to the Ras El-Hekma deal, in addition to the diverse range of real estate projects offered by Egyptian development companies in the region.
He emphasized that the Egyptian real estate market enjoys genuine demand across all residential segments and in various areas, including new cities and coastal regions. There is still strong and rising demand in the Egyptian market, as reflected in the sales of real estate companies. Occasionally, there may be a lull in demand for residential projects during the summer season as interest shifts toward coastal developments.
Tatweer Misr’s president disclosed: “The pricing of units in the Egyptian market is genuine, resulting from real increases in costs. Therefore, there is no exaggeration in pricing. There has been an increase in land prices, rising construction and marketing costs, and higher interest rates—all of which have contributed to the rise in property prices. The only concern arises when prices are high without any justification.”
He disclosed that Tatweer Misr has successfully launched six diverse projects in east and west Cairo, the North Coast, and the Red Sea coast in Galala over the past ten years, comprising 34,000 residential units. The company’s land portfolio is approximately 7.4 million sqm, making it one of the leading real estate development companies in the Egyptian market.
He added that Tatweer Misr has sold 34,000 units with total sales of approximately EGP 73bn over the past 10 years, serving around 15,000 customers. The company has delivered more than 3,700 units in its projects, including Fouka Bay, IL Monte Galala, D Bay, and Bloomfields.
The award-winning IL Monte Galalaproject spans 545 feddans in Ain Sokhna, while Fouka Bay covers 220 acres. The “Di Bay” projects occupy 200 feddans and Salt encompasses 300 feddans in the northwest coast. In East Cairo, the company is executing the Bloomfields project, a mixed-use residential development on 415 feddans, which includes 90 acres designated for an educational area. In West Cairo, the company is developing the Rivers project on 100 feddans in New Sheikh Zayed. Through these developments, Tatweer Misr has established its presence in all strategic locations in the Egyptian real estate market.
Regarding the various services offered by Tatweer Misr, such as operation and project management, the company has successfully created a distinguished quality of life, as acknowledged by its customers and project residents.
