Empire State Development’s COB: We aim to invest 17 billion L.E in the market within a few years
Mustafa Mohsen: A partnership with a giant Saudi company announced soon… Greater investments pumped into both countries
We study new projects in East and West Cairo… We choose the best
We’ve a diversified investment portfolio between industry، real estate development and construction
Mostafa Mohsen، Chairman of the Board of Directors of Empire State Developments (ESD)، said that his company is studying a many investment projects in East and West Cairo، to choose the best companies to establish، and a direction to invest in the Administrative Capital -East Cairo- “due to the value of investment within it، and the returns”، he said.
“The company will pump 17 billion L.E over the coming years، as we study many investment opportunities to choose new ones، with our established goal of choosing the best locations، and improving a beneficial return”، says Mohsen.
(ESD) owns “Al Centro Mall” in New Administrative Capital، located in the heart of the Downtown، with an area of 5،231 m2. The mall consists of two floors، in addition to 15 floors nearby.
Also، Empire State Development work in “New Zayed”، and “New Sphinx” in western Cairo.
Mohsen added that the company will soon announce a partnership with one of the giant Saudi entities، and will pump investments and cooperation into both participants.
“The partnership between real estate developers in both the Kingdom and Egypt is very fruitful، and the teams subsequently contributed to the success of that alternative cooperation”، Mohsen Said.
Large financial coverage
He announced that the company has large financial coverage، that helps it implement its projects on schedule، and in limited quantities depending on the diversity of customer strategies، in addition to a diversified investment portfolio، between the real estate shareholding industry and construction.
Mohsen relies on the strength of the local real estate sector “Real estate lands size in Egypt is approximately 10 leaders، distributed over more than 43 million properties، representing 20% of the domestic product and 12% of the workforce، and it is one of the powerful engines of the Egyptian economy”.
It also experienced the urban renaissance that Egypt has currently witnessed، as the country witnessed the inauguration of 61 new cities، with a total area of 2.2 million acres، inhabited by more than a quarter of a million people، the source of its innovative capacity – when built – for approximately 65 million people، divided into four generations.
Among the fourth generation cities، Egypt has established 39 cities، which are certified smart cities، led by the New Administrative Capital.
