Meamar El Hussein Developments (MHD Developments) has launched ARRIVA, a 7,700-square-metre commercial and entertainment project in New Obour City, as part of its expansion strategy in Egypt’s real estate market.
The project will combine retail and entertainment activities, with the company appointing specialised firms to oversee its design, commercial planning, marketing and operations.
Ahmed Hussein, Chairperson of MHD Developments, said the company selected New Obour City in view of its urban expansion and growing population, which are driving demand for additional commercial and entertainment services.
Egymap will oversee the project’s management and operations, while Criterias Design Group (CDG), led by CEO Hesham Helal, will provide design and consultancy services. Scale Up Consultancy will handle commercial and marketing activities, while Puzzle Development will provide restructuring and advisory services.
The company has introduced flexible payment plans, with down payments starting at 5% and instalment periods extending up to nine years.
Expansion plans
Hussein said MHD Developments has executed and delivered more than 87 projects in Downtown Cairo and expanded its operations into New Cairo, Obour City and New Obour City.
Over the next five years, the developer plans to launch between eight and 10 projects across the commercial and residential sectors, Hussein said, adding that the expansion strategy will focus on locations where the company identifies potential demand for new developments.
The company did not disclose the project’s investment cost, construction timeline, expected completion date or projected sales.
