Milestone Developments prepares to launch its inaugural EGP 6bn project in Egypt

Daily News Egypt
3 Min Read

Milestone Developments has announced its entry into the Egyptian real estate market, backed by Saudi investments.

The company’s Chairperson, Sheikh Mohamed Zoaar bin Ayed bin Zoaar Al-Ajmi, remarked that Egypt’s development of new smart and sustainable cities has opened up numerous opportunities for both local and international investors. He noted the robust demand for residential units, spurred by the country’s population growth, necessitating more projects and diverse real estate offerings.

Sheikh Mohamed Zoaar emphasized the Egyptian government’s dedicated efforts towards a comprehensive urban development plan, which has spurred development and fostered competition among companies to innovate and deliver globally competitive real estate products.

Market research by Milestone Developments indicates promising growth and increased demand in the Egyptian real estate sector. Consequently, the company is strategizing to introduce a variety of mixed-use, coastal, and residential projects.

Nagy Mohamed, Deputy Chairperson, highlighted the company’s rich experience in the Saudi contracting sector, which has bolstered its expertise. Arab Al Multaqa Investments (AMIA) has established a strong track record, particularly in the western and central regions, delivering top-tier projects across residential, commercial, and branded residences.

Milestone Developments, co-founded by Sheikh Zoaar bin Ayed bin Zoaar Al-Ajmi and Sheikh Mohamed Zoaar bin Ayed bin Zoaar Al-Ajmi, a member of the Saudi-Egyptian Business Council, boasts a long-standing Saudi legacy. Since 1979, the company has been part of a vast network of firms specializing in real estate development, including Al Multaqa Real Estate and Areej Al-Khaleej Company, with branches across Saudi Arabia.

General Manager Mohamed Fathi revealed plans to inaugurate one of the largest commercial ventures in West Cairo’s prime locations, with an investment of EGP 6bn. This will be followed by a series of commercial and residential developments in 6th of October City, Sheikh Zayed, and New Cairo.

In preparation for its West Cairo debut, Milestone Developments has secured contracts with leading management and consulting firms in the real estate sector. This includes partnerships with Raef Fahmi Architects for project design and Ayman Shawki Architects for the design of the company’s headquarters and sales offices.

Additionally, RoadMap Consultancy has been appointed for commercial property management, alongside KAD Commercial Property Management, which will offer a suite of services such as finishing guides, tenant manuals, commercial centre management, and service provider supervision. Acadio agency has also been engaged as a comprehensive 360 marketing agency.

Milestone Developments is committed to diversifying its portfolio, aiming to develop and present a range of residential, investment, and coastal properties, concluded Fathi.

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