Empire State Development’s COB: We aim to invest 17bln L.E in the market within a few years

Among the fourth generation cities, Egypt has established 39 cities, which are certified smart cities, led by the New Administrative Capital

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.

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.

Facilitating investment opportunities

At the same time, Mohsen explained that the urban renaissance taking place in Egypt requires the establishment of a law regulating the profession, which developers have demanded since 2008.

The need for the law came in light of the openness to major investment opportunities, such as the “Ras El Hekma” option on the northern Egyptian coast, and the “SouthMed” deal with the Talaat Mostafa Real Estate Group, and what follows it, which is targeted by the Egyptian government “which does not want to regulate the law.” Practice is required and necessary, and it cannot possibly be more than that,” he stressed.

Attracting foreign investments should not be limited to foreign companies operating in Egypt only, but should also work to promote investment opportunities in global Egypt.

Haqq Mohsen said that promoting real estate exported to Arabs and Egyptians, in addition to Egyptians working abroad, is one of the available investment opportunities, “especially in light of a fair price for local labor against foreign currencies, which is in the interest of promoting the Egyptian product, whether “It was industrial or real estate, and it gave it great advantages among the countries of the region.”

In particular, Mohsen created a selected electronic platform that provides specific information about all real estate companies’ projects in Egypt, to promote real estate properties abroad, and expands by holding international real estate exhibitions for cooperation between developers and the Egyptian government – which gives credibility to the events – and facilitates the registration of Egyptian real estate, which is a problem that hinders the sale of real estate for sale in the outside.

Given that Mohsenah is able to contribute from the government to support the real estate market, such as reducing interest rates on real estate loans and providing land at reasonable prices, despite the challenges faced by the real estate market, she is nonetheless able to influence with a great deal of government support, strong demand, and flexibility. Real estate companies in a market confrontation.

New projects

Regarding the “Sian” tourism project agreement in South Sinai, Mohsen said that the company launched “Sian” in the city of Ras Sidr, on an area of ​​14 acres in one of the most distinctive locations in the city, and has established many goals to reach the target customers, those looking for a distinctive location and a stable climate. In a food project.

The Cyan project is only 100 minutes away from Cairo. Small vacations can also be spent in a quiet place in Sayan-Ras Sedr.

He explained that the project includes 473 different residential units, including twin apartments, chalets, and studios. It also includes a 100% sandy beach, 4 swimming pools, a 4-star hotel, kite surfing, a play beach, a children’s play area, cafes, and restaurants, which makes the pharmaceutical project provide services and is eligible for public payment.

About Empire State Developments

Empire State Developments is one of the leading companies in the field of real estate in Egypt, with its experience extending for 35 years  .

It is a large-scale commercial company exclusively in the field of mechanics and electronic construction, which includes more than 500 successful projects, through projects in Arab countries, the most important of which is the modernization and development of “Karbala Airport” in Iraq.

Empire State Developments succeeded constructing and planning many projects in various commercial, residential and administrative activities, including the construction of many government institution buildings, hospitals, oil company buildings, and factories.

The company also developed the headquarters of Al-Azhar Sheikhdom, established a branch of Cairo University in 6th of October City, and finally electromechanical technology in Grand Square and the Champs Elysees in the New Administrative Capital.

كشف مصطفي محسن، رئيس مجلس إدارة شركة ««Empire State Developments عن دراسة الشركة عدة مشروعات استثمارية يشرق وغرب القاهرة على حد سواء، موضحا أنها تستهدف مدينتيّ “نيو زايد” و”سفنكس الجديدة” بغرب القاهرة، فضلاً عن اتجاهها للاستحواذ على أراضٍ داخل العاصمة الإدارية بشرق القاهرة، في ظل القيمة الاستثمارية للمشروعات داخلها، والعوائد الجيدة لها.

وقال محسن، في مؤتمر صحفي عقدته الشركة اليوم الإثنين، إن الشركة تستهدف ضخ 17 مليار جنيه خلال السنوات القليلة القادمة، إذ تدرس العديد من الفرص الاستثمارية لاختيار الأفضل بينها، بما يتماشى مع استراتيجيتها الثابتة في اختيار أفضل المواقع لتحقيق أفضل عائد لعملائها.

أضاف أن Empire State Developments»» تعلن قريبًا عن شراكة مع إحدى الكيانات السعودية الكبرى، ومن المُزمع ضخ استثمارات مشتركة بكلا البلدين، مضيفا أن الشراكة بين شركات المملكة ومصر مُثمرة في المجالات كافة خاصة العقار، كما أثبتت التجارب السابقة على نجاح ذلك التعاون المستمر.

ولفت إلى أن الشركة لديها ملاءة مالية كبيرة تساعدها في تنفيذ مشروعاتها في المواعيد المحددة والالتزام التام بجداول التسليمات مع العملاء، فضلاً عن محفظة استثمارية متنوعة ما بين الصناعة والتطوير العقاري والمقاولات.

وشدد محسن على قوة القطاع العقاري المحلي، فحجم الثروة العقارية بمصر يناهز 10 تريليونات جنيه، موزعة على أكثر من 43 مليون عقار، تمثل 20% من الناتج المحلي، و12% من القوى العاملة، وهو أحد المحركات القوية للاقتصاد المصري، مشددًا على أن العقارات مازالت الوعاء الادخاري الآمن على مر العصور وفي مختلف البلدان.

كما أشاد بالنهضة العمرانية التي تشهدها مصر حاليًا، مع تدشين 61 مدينة جديدة، بمساحة إجمالية 2.2 مليون فدان، يقطنها ما يزيد على ثمانية ملايين نسمة ترتفع طاقتها الاستيعابية حين اكتمال إنشائها لحوالي 65 مليون نسمة، مقسمة إلى أربعة أجيال آخرها مدن الجيل الرابع البالغ عددها 39 مدينة، وهي مدن ذكية مستدامة علي رأسها العاصمة الإدارية الجديدة.

وشدد محسن على أن النهضة العمرانية التي تشهدها مصر تتطلب وضع قانون تنظيم المهنة الذي طالب به المطورون منذ 2008 خاصة في ظل الانفتاح على الفرص الاستثمارية الكبرى كصفقتي رأس الحكمة و(ساوث ميد) مع مجموعة طلعت مصطلى أخيرًا، وما يليها من صفقات مستهدفة من قبل الحكومة، مما يجعل قانون تنظيم المهنة مطلب ضروري وفوري لا يحتمل المزيد من التأخير.

أشار إلى أن جذب الاستثمارات الأجنبية لا يجب أن يتوقف على الشركات الأجنبية العاملة بمصر فقط، وإنا يقتضي الأمر، العمل على ترويج الفرص الاستثمارية الموجودة بمصر في كافة المحافل الدولية.

وطالب محسن بإنشاء منصة إلكترونية دولية توفر معلومات تفصيلية عن جميع مشروعات الشركات العقارية في مصر لتصدير العقار المحلي للخارج، فضلاً عن التوسع بإقامة المعارض العقارية الدولية بالتعاون بين المطورين والحكومة ما يعطي مصداقية أكبر للفعاليات، فضلاً عن تسهيل تسجيل العقار وهو عائق كبير أمام التصدير العقاري.

ولفت إلى امتلاك مصر مزايا كبيرة لتصدير العقار إلى الأشقاء العرب المقيمين إضافة للمصريين العاملين في الخارج، خاصة في ظل انخفاض سعر صرف العملة المحلية أمام العملات الأجنبية، الأمر الذي يصب في صالح تصدير المنتج الخاص بمصر سواء أكان صناعيا أم عقاريا، ومنحه مزايا تنافسية كبيرة بين دول المنطقة المصدرة للعقار.

كما دعا محسن إلى اتخاذ خطوات من قبل الحكومة المصرية لدعم السوق العقاري، مثل خفض أسعار الفائدة على القروض العقارية وتوفير أراضٍ بأسعار مناسبة، مؤكدا أنه رغم التحديات التي تمر بها السوق العقارية لكنها قادرة على المواجهة بفضل الدعم الحكومي وقوة الطلب ومرونة الشركات العقارية في مواجهة التغيرات السوقية.

وحول تطورات مشروعات الشركة، أشار محسن إلى أهمية مشروعها »سنترو مول« في العاصمة الإدارية الجديدة، والذي يقع بموقع استراتيجي بقلب منطقة الداون تاون بمساحة 5231 مترًا مربعًا، والمول مُكون من طابق أرضي بالإضافة إلى 15 طابقًا متكررًا.

وبالنسبة لمشروع “سيان” السياحي بجنوب سيناء، قال إن الشركة أطلقت المشروع بمدينة رأس سدر في موقع يتميز ببعده 100 دقيقة فقط عن القاهرة، ما يمكن للعميل قضاء عطلاته القصيرة.  

وأوضح أن المشروع متكامل المرافق وتم إنهاء ٣٠٪ من الإنشاءات ، موضحا أن المشروع يحتوي على 473 وحدة بمساحات مختلفة ما بين توين هاوس وشاليهات واستديوهات، كما يضم شاطئ رملي 100%، و4 حمامات سباحة وفندق 4 نجوم، ورياضيات “كايت سيرفنج” وألعاب شاطئية ومنطقة ألعاب للأطفال وكافيهات ومطاعم، ما يجعل المشروع متكامل الخدمات وصالح للإقامة طوال العام.

وأكد محسن أن الشركة تركز على جودة المشروعات، وخدمات ما بعد التسكين من الصيانة والخدمات الأمر الذي يزيد من عوائد امتلاك العقارات بالنسبة لعملائها.  

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Mostafa Mohsen, Chairperson of Empire State Developments (ESD), announced that the company is evaluating numerous real estate investment projects in east and west Cairo to select the most promising opportunities. ESD is particularly interested in investing in the New Administrative Capital (NAC) in east Cairo due to its significant investment potential and high returns.

“The company will invest EGP 17bn over the coming years as we explore various investment opportunities, always aiming to choose the best locations and maximize beneficial returns,” stated Mohsen.

ESD owns El Centro Mall in the NAC’s Downtown area, covering 5,231 sqm with two floors and an additional 15 nearby floors. Additionally, Empire State Developments is active in New Zayed and New Sphinx in west Cairo, Mohsen noted.

Mohsen added that the company will soon announce a partnership with a major Saudi entity, which will involve significant investments and cooperation.

“The partnership between real estate developers in both the Kingdom and Egypt is very fruitful, and the teams have contributed to the success of this cooperation,” Mohsen said. “The company has substantial financial coverage that helps it implement its projects on schedule, in limited quantities depending on customer strategies, and maintains a diversified investment portfolio between real estate shareholding and construction.”

Mohsen emphasized the strength of the local real estate sector, noting that Egypt’s real estate wealth amounts to approximately EGP 10tr, distributed across more than 43 million properties. This sector represents 20% of the domestic product and employs 12% of the workforce, making it a powerful engine of the Egyptian economy.

He stressed that real estate remains a safe investment vehicle throughout the ages and in various countries, highlighting the inauguration of 61 new cities with a total area of 2.2 million feddans, currently inhabited by more than eight million people.

These cities are projected to accommodate around 65 million people upon completion. These developments are divided into four generations, with the latest being 39 fourth-generation smart and sustainable cities, led by the New Capital.

Mohsen emphasized that Egypt’s urban renaissance requires the implementation of a regulatory law for the profession, which developers have been demanding since 2008. This is especially crucial given the recent opening up to major investment opportunities, such as the Ras El Hikma and South Med deals with Talaat Moustafa Group, and other targeted deals by the government. Thus, enacting the regulatory law for the profession is a necessary and urgent demand that cannot be delayed any longer.

He pointed out that attracting foreign investments should not be limited to foreign companies operating in Egypt alone. It also requires promoting the investment opportunities available in Egypt at various international forums.

Mohsen called for the establishment of an international online platform that provides detailed information on all real estate projects by companies in Egypt to facilitate the export of local real estate abroad. Additionally, he urged for the expansion of international real estate exhibitions in collaboration between developers and the government, which would lend greater credibility to these events. He also highlighted the need to simplify property registration, which is a significant obstacle to real estate export.

Mohsen called on the Egyptian government to take steps to support the real estate market, such as lowering interest rates on real estate loans and providing land at reasonable prices. He affirmed that despite the challenges facing the real estate market, it is capable of overcoming them thanks to government support, strong demand, and the flexibility of real estate companies in adapting to market changes.

He explained that the project is fully equipped with facilities and that 30% of the construction has been completed. The project includes 473 units of various sizes, including twin houses, chalets, and studios. It also features a 100% sandy beach, four swimming pools, a four-star hotel, kite surfing and beach games, a children’s play area, cafes, and restaurants, making it a fully serviced project suitable for year-round residence.

Mohsen concluded that the company focuses on the quality of its projects and post-occupancy services such as maintenance, which increases the returns on property ownership for their clients.