A Development Leadership with a Comprehensive National Vision
Between real estate development and institutional work, the name of Engineer Mohamed Albostany stands out as one of the most influential figures in the Egyptian real estate sector. Not only as the Chairman of Albostany Real Estate Development Company, but also as the leader of the New Cairo and New Administrative Capital Developers Association, which has become a true voice for the private sector in Egypt’s real estate landscape. In this interview, Albostany unveils the key features of his integrated vision, blending outstanding projects with institutional organization, expansion ambitions, and a national role in supporting sustainable urban development.
A Journey That Started with 12,000 EGP… and Led to Leadership
How did your journey with Albostany Company begin? What distinguishes it in the market?
Albostany Real Estate Development Company was founded in 1985 with a capital of just 12,000 EGP, at a time when real estate development lacked a comprehensive vision. Today, the company is a contributing entity with a capital of 50 million EGP. But what distinguishes us is not the size; it’s the philosophy. We don’t sell units; we build communities. We focus on integrating quality design, excellent location, and value for money, and most importantly: true commitment to the client. This is what sets our projects apart, especially in New Cairo and East Cairo, where we translate our vision into an architectural product with a modern Egyptian spirit.
Ladera Hub… The New Face of New Cairo
Tell us about your latest project, Ladera Hub?
Ladera Hub is a vibrant representation of the concept of integrated development. It’s not just a traditional mall, but a commercial-hotel-entertainment hub designed to redefine the concept of commercial investment in New Cairo. The project spans a 500-meter frontage, the largest of its kind in the area, and includes commercial, medical, administrative, and hotel units, along with sports and entertainment areas. We apply all the standards we recommend to investors: smart design, safety, investment returns, and added value to the location. This is not just a project; it’s a landmark in New Capital developments.
Expansion Vision with Selective, Thoughtful Planning
What are Albostany geographic expansion plans?
We do not expand just for the sake of expanding. We move based on thorough market studies, focusing on real needs and feasible opportunities. We are currently exploring expansion in the New Administrative Capital, New Badr City, and New Alamein, as well as future tourism projects, provided the appropriate investment environment exists. We believe that success begins with choosing the right location for the right project, at the right time.
New Cairo and New Administrative Capital Developers Association… From an Independent Entity to a National Voice
What role does the association play in regulating the real estate market?
The association was established six years ago to fill a real gap in representing developers. Today, it includes over 320 companies of various sizes and is officially recognized by the Ministry of Social Solidarity. The association is not just an organizational umbrella but an active and influential entity within the Real Estate Investment Division and the Real Estate Development Chamber. We aim to turn it into a national body that genuinely represents the private sector and leads discussions with the government about laws, licenses, and land allocation. We are not just representatives of developers; we are partners in shaping the future of the market.
Regulation and Classification… For a More Transparent Market
How do you view the current legislative environment? What needs to be improved?
The market needs accurate professional classification of developers, similar to what is done in the Contractors Union. Investors or clients should not deal with developers who lack clear experience or financial solvency. We advocate for the creation of an official Union for Developers and the implementation of a classification system that categorizes companies based on the number of projects, experience, and financial solvency. This measure will protect the market from chaos and enhance trust between all parties.
Economic Challenges… A Real Test of Trust in the State
How have recent economic conditions affected the sector?
Economic decisions such as the currency flotation and subsidy cuts were painful, but necessary to build a strong economy. Construction costs have undoubtedly increased, but the state has achieved what was not expected in just a few years: over 43 new cities, massive infrastructure, and major international agreements like the “Ras El Hikma” deal. These are clear indicators that we are building a new state by all standards. We are in a transitional phase, but the future is promising.
A Better Investment Environment Starts with Clarity and Speed
What is required to enhance the partnership between the public and private sectors?
I call for more transparency and faster licensing and land allocation processes, with clear roles for each party. The state must support the serious developer, and the private sector must offer products that meet real needs, especially for low- and middle-income groups. What is needed is not only financial support but also the right legislative and informational environment.
Advice from the Heart of Experience… For Investors, Clients, and New Developers
What messages do you have for investors, clients, and new developers?
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For Investors: Only invest in a trusted developer. Review the track record, verify financial solvency, and have an execution plan. Don’t enter the market without calculating ROI and a clear exit strategy.
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For Clients: Don’t take risks. Verify the documents, location, and licenses, and consult an engineer or lawyer before making a decision. Choose what can easily be resold.
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For Young Developers: Don’t start big. Learn from the market, start from the basics. Work for major companies, and benefit from the expertise. True success begins with humility and continuous learning.
