Based on a huge urban renaissance that Egypt is witnessing and the availability of promising investment opportunities, Milestone Developments announced launching its business in the Egyptian real estate market with global experience and Saudi investments.
Chairperson of Milestone Developments Sheikh Mohamed Zoaar bin Ayed bin Zoaar Al-Ajmi stated that Egypt is currently developing a generation of new smart and sustainable cities, which has provided many attractive opportunities for local and foreign investment. Besides, strong and real demand for all residential units, which is based on population increase. Accordingly, the market needs more projects and various real estate products.
Sheikh Mohamed Zoaar bin Ayed bin Zoaar Al-Ajmi added that the Egyptian government made strong efforts to achieve a comprehensive urban development plan in Egypt, which was worked on with a strong effort to accelerate development rates. This contributed to the emergence of a large number of companies that competed with each other to innovate and provide real estate products capable of global competition.
He pointed out that the market studies conducted by the company on Egyptian real estate market revealed significant growth rates during the coming years, as well as, demand increase. Therefore, Milestone Developments planned to enter the Egyptian market with several mixed-use, coastal and residential projects.
He noted that the company has a unique business strategy through which it will work to enrich real estate market by adding new distinguished projects and creating various investment opportunities.
For his part, Vice Chairman of Milestone Developments Nagy Mohamed said that the experience that the company gained from working in contracting sector in the Kingdom of Saudi Arabia supported its expertise. Arab Al Multaqa Investments (AMIA) succeeded in implementing a strong precedent of work in many places, especially in western and central region, where since its founding it has outdone itself with fully finished projects at the highest level of designs, whether residential, commercial projects or branded residences.
Mohamed disclosed that Milestone Developments was founded by Sheikh Zoaar bin Ayed bin Zoaar Al-Ajmi, and Sheikh Mohamed Zoaar bin Ayed bin Zoaar Al-Ajmi, who is a member of Saudi-Egyptian Business Council. Additionally, the company has a long Saudi heritage and a giant group of companies has expanded in the Saudi market since 1979 in real estate development. Under the business of Al Multaqa Real Estate and Areej Al-Khaleej Company, with its branches around the Kingdom.
Mohamed Fathi, General Manager of Milestone Developments revealed that the company plans to launch one of the largest commercial projects in the most prominent locations in west Cairo with EGP 6bn investments, followed by several commercial and residential projects in 6th of October, Sheikh Zayed, and New Cairo.
Milestone Developments concluded a group of strategic contracts in preparation for launching its first project in west Cairo, with a number of major management and consulting companies in real estate market, including Raef Fahmi Architects to conduct project designs, and Ayman Shawki Architects to design the company’s headquarters and the sales headquarters on the site.
Additionally, RoadMap Consultancy was assigned for commercial properties management, as well as, contracting with KAD Commercial Property Management to provide a range of services, including preparing finishing guide and tenant’s operating manual, managing commercial centers, and supervising service providers. In addition to contracting with Acadio agency as a 360 marketing agency.
Mohamed Fathi elaborated that the company aims to meet customers needs and build trust between it and its customers so that it is the most appropriate choice for them.
Furthermore, the company is interested in diversifying projects that it seeks to develop and offer so that they vary between residential, investment and coastal units.
He highlighted the company’s keenness to select the best locations and contracting with largest architectural designers, while ensuring that there is a wide variety of spaces, prices, and payment systems to create competitive opportunities in Egyptian real estate market.