An Egyptian-Gulf alliance of three leading real estate developers—SIAG Developments, El Alwy Urban Development, and Misk Development—has launched Mahawer Developments, a new company aimed at investing EGP 7bn in real estate projects across New Damietta and the Delta region.
The founders of Mahawer Developments emphasized that the company’s mission is to support Egypt’s urban renaissance by creating innovative, sustainable projects that promote smart urban expansion. Drawing on the deep experience of the founding companies in both Egyptian and Gulf markets, Mahawer seeks to raise the standards of real estate development by focusing on premium locations and high-quality designs.
SIAG Developments is known for its innovative residential, commercial, and administrative projects in the Delta region, creating vibrant communities that offer more than just living spaces. El Alwy Urban Development, with over 25 years of experience, started its operations in the Gulf (Qatar and UAE) before expanding into Egypt. The company integrates modern technology into its projects, ensuring they meet both local and international quality standards. Misk Urban Developments, a Saudi-backed firm with over 20 years of presence in the Egyptian market, is recognized for its luxurious designs that align with global real estate standards.
The founders of Mahawer highlighted the immense potential of the real estate sector, which continues to attract both local and foreign investment. They noted that the Egyptian government’s support, particularly from the New Urban Communities Authority, plays a crucial role in fostering investment in real estate development.
Maged El-Basiony, CEO of Mahawer, expressed that the new venture combines the expertise of three prominent companies in real estate and urban development. “Mahawer is not just an alliance; it represents a bold vision that blends innovation, ambition, and experience with forward-thinking strategies,” he said.
Hossam El Alwy, a member of the Board of Directors of Mahawer, emphasized that real estate development goes beyond construction. “It’s an ongoing process of enhancing lives by creating intelligent, interconnected environments that meet the evolving needs of the modern world,” he added.
With this strategic collaboration, Mahawer Developments aims to play a leading role in Egypt’s real estate market, contributing to the country’s growth and urbanization efforts through sustainable and visionary projects.
