Al Mithaq Arabia Launches First Project in Egypt with EGP 60 Billion Investment
Al Mithaq Arabia for Real Estate Development and Investment (MAG) has announced the launch of its first project in Egypt, a fully integrated development in East Cairo, with an initial investment of EGP 60 billion.
Founded on a partnership combining Emirati expertise with Saudi and Egyptian capital, the group emphasized during a press conference that its entry into the Egyptian market represents a strategic step aimed at transferring successful real estate development models from Gulf markets to one of the most dynamic property sectors in the region.
Sheikh Abdullah Al Amoudi, Chairman of Al Mithaq Arabia, said the Egyptian real estate market is characterized by strong and genuine demand, noting that the new project seeks to meet customers’ needs by developing a comprehensive urban community.
Dr. Nour El Sarougy, Board Member and Regional CEO, highlighted that the group has successfully developed more than 25 projects in Abu Dhabi over the past decade. He explained that the Egypt venture will feature a residential, hospitality, and commercial compound, reflecting the group’s confidence in Egypt’s robust demand.
Abdel Aziz Farhat, General Manager of the group, stressed that the project embodies Arab cooperation between Egypt, the UAE, and Saudi Arabia, while focusing on quality, transparency, and strategic timing for entering the Egyptian market.
Architect Mohamed Talaat, CEO of Mohamed Talaat Architects, said the project’s design combines Arab heritage with modern architectural elements, built around sustainability standards. Similarly, Dr. Hani El Zayat, CEO of HZ Consulting Group, emphasized that the development will integrate state-of-the-art construction technologies while addressing environmental sustainability requirements.
From the consultancy side, Bassem El Sherbiny, CEO of Etqan Consultancy, revealed that the group’s decision followed over a year of in-depth market studies. Meanwhile, Eng. Haitham Leithi, Project Management Director at MAG, underlined that the goal is to deliver a real estate product that focuses on quality of life at affordable prices.
The group concluded by stressing that the project is not merely a real estate investment, but rather a joint Arab initiative aimed at competing regionally and globally. It also aligns with Egypt’s Vision 2030, adhering to environmental standards and urban development goals.