The Mark confirms its full commitment to implementing and delivering the Maxim Bo Sidi Abdel Rahman project on the North Coast
The Mark Company acknowledges its full responsibility for the execution and delivery of the Maxim Bo Sidi Abdel Rahman project on the North Coast (Bo Islands and Bo Sands). The company affirms its complete commitment to completing the 900-acre project according to the highest quality and execution standards, within a clear timeframe that respects client rights and reflects the company's seriousness in fulfilling its commitments.
In this context, The Mark Company announced the appointment of Eng. Amr Badr as CEO of Maxim Real Estate Investment Company, the owner of the Maxim Bo Sidi Abdel Rahman project on the North Coast (Bo Islands and Bo Sands). This appointment is part of a comprehensive administrative restructuring aimed at strengthening governance, accelerating the pace of execution, and ensuring direct oversight of all project phases.
It is worth noting that the acquisition of the project went through several organizational phases, beginning in October 2023 with a development contract only, before The Mark Company moved to acquire the land in its entirety in August 2024. Since then, the company has been addressing the accumulated challenges associated with the project, primarily land contracts and prior obligations. The Mark Company successfully resolved and settled all outstanding debts and arrears related to the land with all relevant parties, including the Urban Communities Authority, banks, suppliers, and contractors, with total settlements amounting to approximately EGP 4 billion. This contributed to restoring the project's financial and legal stability and creating a suitable environment for continued implementation.
The company emphasized that these procedures required considerable time and effort due to the complexity of the files and violations that had accumulated over previous years. However, addressing these issues was essential to protect clients' rights and ensure the project's sustainability. The Mark also emphasized its full commitment to all customer rights and its dedication to fulfilling the pledges it announced from the moment of the acquisition, which included working to complete and deliver the delayed units according to a clear and well-defined plan.
In this context, Eng. Amr Badr, CEO of The Mark and Maxim Real Estate Investment Company, explained that quality is the company's top priority in the Maxim Bo Sidi Abdel Rahman project on the North Coast. He pointed out that the goal is not limited to adhering to execution standards, but extends to providing a comprehensive experience that meets customer expectations and reflects the project's value and prestige. He added that he is directly and meticulously monitoring all aspects of implementation to ensure adherence to the highest standards of quality and discipline at every stage.
To enhance the quality of planning and execution, the company collaborates with a select group of international and local consultants. WATG, a global firm, is handling the master plan, while ACE (Moharram Bakhoum) serves as the supervising consultant for implementation, ensuring adherence to the highest approved technical and engineering standards.
Based on these procedures, The Mark has developed a comprehensive investment plan worth EGP 12 billion to develop the Maxim Bo Sidi Abdel Rahman project on the North Coast (Bo Islands and Bo Sands), enabling completion and delivery of units to buyers. This plan reflects the company's full commitment to transparency and responsibility in all its obligations, while maintaining the highest standards of quality and execution. The company confirmed that work on the project is scheduled to resume in February 2026, and clients will be contacted and notified of the new delivery dates in the coming weeks. This is in line with the company's commitment to transparency and keeping clients informed of all developments related to the progress of work and implementation plans.
The Maxim Bo Sidi Abdel Rahman project on the North Coast is considered one of the most prominent integrated coastal communities, spanning a significant area. Spanning 900 acres, with total investments estimated at approximately EGP 150 billion, the project comprises over 8,000 residential units, nearly 2,500 of which have already been sold. The Mark prioritizes the timely delivery of these units, reaffirming its commitment to its clients and ensuring the project aligns with its investment strategy and delivery plans.
In conclusion, The Mark emphasizes its commitment to developing integrated real estate projects that reflect the highest standards of quality and professionalism, safeguard the rights of clients and investors, and support the state's vision for sustainable urban development.