Egyptian-Saudi Alliance Enters Egypt’s Real Estate Market as Prax Unveils First Project in New Obour CityUnveils First Project in New Obour City

Prax Real Estate Development launches operations under the leadership of Eng. Mohamed El-Refai

Prax Real Estate Development has announced the launch of its operations in the Egyptian real estate market. under the leadership of Eng. Mohamed El-Refai, marking the company’s entry into the market with its first development in New Obour City.

Prax enters Egypt through an Egyptian-Saudi partnership with Asas Taba for Real Estate Development, chaired by Osama Alami.

The alliance brings together specialized expertise in real estate development, asset management, marketing, sales, and commercial consultancy.

Prax Selects New Obour City for Its First Project

Prax has selected a strategic location at the entrance of New Obour City for its first project in Egypt. The company aims to capitalize on the area’s ongoing urban expansion and growing investment potential.

The project is supported by a specialized team with extensive experience across different areas of the real estate sector.

Their expertise covers development, asset management, marketing, sales, and commercial consulting.

This integrated structure is designed to support the project throughout its various stages, from planning and development to marketing and sales.

Specialized Team Supports Prax’s Development Strategy

The project brings together Islam Khamis, CEO of Axes for Real Estate Development and Asset Management, alongside Mina Hakim, Board Commercial Consultant.

The team also includes Shady Gaber, Chairman of Shad Management for Marketing Consultancy and Management, while Rasha Hosny heads the sales division.

The company said that bringing together these specialized professionals reflects Prax’s approach to building an integrated development model. The structure combines development expertise with asset management, commercial consultancy, marketing, and sales capabilities.

September 15 Launch to Reveal Project Details

Prax Real Estate Development is preparing for its official launch event on September 15, when the company will reveal further details about its first project in New Obour City.

The event will showcase the project’s key features, development vision, and components, while introducing a number of planned surprises for attendees.

The launch represents an important milestone for Prax as it begins implementing its strategy in the Egyptian market.

Egyptian-Saudi Partnership Targets Real Estate Growth

Prax’s entry into Egypt comes through an Egyptian-Saudi alliance that combines investment capabilities with specialized real estate expertise.

The company aims to build on the experience of its partners and professional team to develop projects that respond to market demand and create long-term value for customers and investors.

With its first project located at the entrance of New Obour City, Prax is positioning itself to participate in the continued development of emerging urban destinations in East Cairo.

The company’s launch comes as Egypt’s real estate market continues to expand across new cities and emerging development areas. Prax aims to establish a long-term presence in the market through a development strategy built around specialized expertise, strategic locations, and integrated project management.