Five Palm Development and Sam Wave Development announce major projects in New Capital and Ras El Hekma
Five Palm Development and Sam Wave Development have announced a strategic real estate partnership to develop major projects in Egypt, with total targeted investments of around EGP 35bn.
The Five Palm Sam Wave partnership will focus initially on two major real estate projects in the New Capital and Ras El Hekma.
The agreement forms part of the companies’ expansion strategies and aims to strengthen their presence in Egypt’s growing real estate market.
It also reflects the increasing importance of strategic partnerships between developers with complementary expertise.
Today, customers and investors are placing greater emphasis on developer strength, financial capabilities, execution track records, product quality, and long-term investment value.
Five Palm and Sam Wave combine development and construction expertise
The new partnership brings together the real estate development and investment expertise of Five Palm Development with the construction and contracting experience of Sam Wave Development.
This combination aims to create a stronger development model that integrates construction capabilities with modern development and investment strategies.
Sam Wave Development traces its roots to SAMCO Egypt, which was established in 1993.
The company has a track record of major projects implemented in cooperation with a number of state-affiliated authorities and entities.
Eng. Mostafa Abdel Aziz serves as Chairman of Sam Wave Development, while Islam Shehata serves as Chairman of the Board of Five Palm Development.
The partnership aims to develop projects that combine strong execution capabilities, sound planning, professional management, and a clear investment vision.
EGP 35bn investment targets New Capital and Ras El Hekma
The initial phase of the partnership includes two major projects in key Egyptian real estate and tourism investment destinations.
The first project is a residential development in the New Capital.
The project is being developed in partnership with an authority affiliated with the Ministry of Defense.
It aims to provide an integrated residential community based on a modern concept.
The development will align with the significant urban growth taking place in the New Administrative Capital.
The project is expected to launch in the near future.
Details covering its components, payment plans, architectural concept, and development vision will be announced in phases.
The second project is located in Ras El Hekma on Egypt’s North Coast.
Ras El Hekma has emerged as one of Egypt’s key real estate and tourism investment destinations on the Mediterranean.
The partnership aims to develop a distinctive project that capitalizes on the area’s significant potential.
The project will also benefit from the development and investment momentum currently taking place in Ras El Hekma.
The total targeted investment for the two projects is estimated at approximately EGP 35bn.
This investment reflects the scale of the partnership and the companies’ ambitions to develop projects with significant investment value.
It also underlines their focus on delivering differentiated real estate products to the Egyptian market.
Islam Shehata: Strategic partnerships support real estate growth
Islam Shehata, Chairman of Five Palm Development, said the new partnership forms part of the company’s expansion strategy for the coming period.
He explained that Five Palm Development is focusing on selecting partners with strong expertise and proven execution capabilities.
According to Shehata, cooperation with Sam Wave Development represents an important step toward implementing major projects in strategic locations.
He added that the partnership is based on a long-term development and investment vision.
Shehata noted that the current Egyptian real estate market increasingly requires partnerships that combine experience, execution capabilities, investment vision, and professional management.
These factors have become important considerations for customers before making a purchase or investment decision.
He stressed that the partnership is not focused only on increasing project scale or geographic expansion.
Instead, the companies aim to deliver a safe, high-quality, and sustainable real estate product.
The objective is to create tangible value for customers, whether they purchase properties for end use or investment.
Shehata also emphasized quality, planning, management, and long-term value preservation.
Eng. Mostafa Abdel Aziz, Chairman of Sam Wave Development, said the partnership with Five Palm Development builds on the company’s longstanding construction experience.
He explained that Sam Wave’s construction background dates back to the establishment of SAMCO in 1993.
This experience represents a key strength in delivering the new projects with high standards of quality and efficiency.
Abdel Aziz added that integrating construction and development expertise has become increasingly important in the modern real estate market.
Customers today are more informed and increasingly evaluate the strength of the partners behind each project.
They also pay close attention to execution, quality, operations, and the ability to deliver on commitments.
He noted that details of the new projects will be announced successively during the coming period.
The developments will focus on strong locations, quality execution, sound planning, investment security, and sustainability.
These factors are expected to support customer confidence and strengthen the projects’ long-term investment value.
Five Palm and Sam Wave target a new phase of expansion
The Five Palm Sam Wave partnership reflects the growing role of strategic alliances in Egypt’s real estate market.
Partnerships between companies with complementary expertise can help improve real estate products and raise execution standards.
They can also strengthen customer confidence at a time when buyers are becoming more selective.
Customers are increasingly looking for developers capable of meeting their commitments and delivering sustainable value.
Through the new partnership, Five Palm Development and Sam Wave Development aim to establish a new phase of growth.
The strategy will begin with the residential project in the New Capital.
It will then expand to the Ras El Hekma project on the North Coast.
The two companies are also exploring additional investment opportunities during the coming period.
