The signing ceremony was attended by Engineer Ayman El
Kousey, Managing Director and CEO of Medar for Investment and Urban
Development, and Engineer Yasser Zidan, Chairman of ALQAMZI Developments.
ALQAMZI Developments will develop the land into a fully
integrated residential project with investments of EGP 50 billion. The project
represents a continuation of the company’s planned and distinguished expansions
in the Egyptian market.
Zidan expressed his pleasure at the company’s expansion into
Future City, one of the leading smart and integrated cities in East Cairo. He
added that the expansion opens broad prospects for implementing a project that
reflects the company’s vision of seizing promising investment opportunities in
Egypt.
He also highlighted that the new project demonstrates
ALQAMZI’s commitment to developing innovative and sustainable urban
communities. The project aims to deliver real value to the market and will
serve as a modern model for integrated developments that meet clients’
aspirations for a superior quality of life.
He explained that the residential project combines a variety
of real estate offerings and high-quality planning. The units will include
villas, apartment buildings, and townhouses to meet the needs of diverse
customer segments. The project is scheduled for completion over five years.
About ALQAMZI Developments:
ALQAMZI Developments is part of the ALQAMZI Group, one of
the major UAE entities established in 1997, specializing in the construction
sector. The group has completed numerous projects across the UAE and began its
international expansion in 2010, selecting the Egyptian market. ALQAMZI
Developments was founded in partnership between Emirati businessman Abdullah
ALQAMZI and Egyptian businessman Yasser Zidan. The company announced major
expansion plans in the Egyptian market in 2021.