Egyptian Kuwaiti Real Estate Development Company has signed a strategic partnership agreement with Grova West, a subsidiary of Hassan Allam Holding, to jointly develop a 295-feddan land parcel in the eastern expansion area of 6th of October City
The project is expected to attract investments exceeding EGP 270bn
The agreement comes as part of the new executive management’s strategy at the Egyptian Kuwaiti Real Estate Development Company to accelerate the development of its land portfolio and deliver distinctive projects that provide real added value to Egypt’s real estate market while supporting the state’s urban development plans
Major General Yousry Selim, Chief Executive Officer and Managing Director of the Egyptian Kuwaiti Real Estate Development Company, said that the company is committed to partnering with leading entities to develop and maximize the value of its premium land assets, ensuring optimal investment returns while contributing to sustainable development
This approach complements the company’s ongoing development activities across its existing projects, he added Selim noted that, under the partnership agreement, Grova West, a subsidiary of Hassan Allam Holding, will undertake the development of the land owned by the Egyptian Kuwaiti Real Estate Development Company, delivering a project that represents a modern model for integrated urban communities
The development will feature a diverse range of residential offerings designed to meet varying customer needs, including apartments and villas, with apartments accounting for the largest share of the project. It will also include commercial, administrative, entertainment, and medical facilities
Grova West will additionally be responsible for the project’s management and operation, according to Selim
About the Egyptian Kuwaiti Real Estate Development Company
The Egyptian Kuwaiti Real Estate Development Company is an Egyptian joint-stock company established in 1978. Over the years, it has built a strong track record of delivering distinguished real estate projects and forming strategic partnerships with leading organizations to develop high-value products that contribute to the growth of the Egyptian market
The company owns a diversified portfolio of land assets as well as residential and tourism developments in New Cairo Among its flagship projects is Noble Compound in New Cairo, which reflects the company’s commitment to delivering integrated communities that meet evolving market demands