WestWay Developments plans to invest 15 billion pounds in the Egyptian market in 2025 through major projects in West Cairo. Following a merger of key real estate companies, the new entity aims to leverage extensive experience and promote urban development to attract local and foreign investments.
WestWay Developments, under the leadership of Dr. Mohamed Farouk, is set to invest 15 billion pounds in the Egyptian market in 2025, focusing on significant projects within West Cairo. This initiative follows the merger of key companies in the real estate sector, integrating over three decades of experience in property development. Notable contributors to the merger include DIG, with a vast project portfolio, Memaar Al Farouk, and Diyar Hany Farrag. Mr. Hussein Salah, the Vice Chairman, emphasized that such mergers empower companies to undertake multiple projects simultaneously, enhancing their land and project portfolio. He noted that this consolidation increases credibility with clients and partners due to improved financial capacity and solvency. In just two years, WestWay has managed to launch six diverse projects in West Cairo, starting with 360Health, a well-received medical facility in Old Zayed due to its strategic location and population density. The company has expanded its portfolio to include residential compounds such as River Park 1 and River Park 2 in New Zayed City and the Z4 mall project in Janna Zayed. Eng. Hany Farrag has reported ongoing developments like River Residence in October Gardens, featuring residential buildings and green spaces, alongside Town Plaza in New October. Moreover, Mr. Mohamed Fawzy disclosed plans for a new venture covering 15,000 square meters in 6th of October City, which will combine various commercial activities with hotel apartments, and an extensive 300-acre project in the new Sphinx City. Mr. Mohamed Abbas, Chief Sales Officer, pointed out the promising prospects of West Cairo, particularly due to urbanization initiatives that attract both local and foreign investments. He remarked on the vital role that recent state developments, including the Grand Egyptian Museum, play in bolstering the area’s attractiveness as a major investment hub, leading to increased participation from substantial real estate developers.
WestWay Developments is a newly formed entity in the Egyptian real estate market, resulting from a strategic merger of several prominent companies in the sector. The partners of WestWay possess extensive experience, enhancing the company’s capability to undertake major investment projects. This planned investment of 15 billion pounds reflects the growing confidence in West Cairo as a burgeoning hub for real estate development, driven by enhanced infrastructure and significant state investment that aims to transform the area into a prominent urban locality.
In summary, WestWay Developments aims to invest significantly in the Egyptian real estate market, specifically within West Cairo, which is gaining attention due to ongoing urban development. With a strong foundation built on experience, the company is poised to launch several projects that will contribute to the region’s economic growth and attractiveness for future investments. As West Cairo evolves, it stands to benefit from strategic initiatives designed to enhance its infrastructure and appeal as a premier destination for commercial and residential projects.
Original Source: www.zawya.com
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