Tatweer Misr, one of the leading real estate development companies in Egypt, has announced its participation in the Cityscape Global Exhibition, held in the Saudi capital, Riyadh, from September 10th to 13th. Through this participation, Tatweer Misr aims to support its vision of exporting Egyptian real estate to foreign markets, in addition, attaining its strategic objectives related to enhancing its presence in the Saudi real estate market, which is undergoing significant transformation in line with the Kingdom's Vision 2030.
Tatweer Misr's participation in this exhibition reflects its success story in the field of Real Estate Development. The company’s business model focuses on establishing fully integrated urban communities based on innovation, sustainability and quality, which capitalizes on the company’s commitment to delivering added value to its customers, shareholders and partners. Tatweer Misr's investment portfolio comprises six mega projects with investments totaling more than USD 5 billion. Moreover, during the past few years, Tatweer Misr has succeeded in creating a distinctive quality of life by providing various operational and facility management services, as testified by its customers and project visitors.
During Cityscape global Exhibition, Tatweer Misr showcases its real estate development investment portfolio, which includes six significant projects in various phases of development and planning across Egypt. Project locations include: the Red Sea where their award winning flagship project “IL Monte Galala” is built on around 545 acres in Ain El Sokhna; the Western North Coast where “Fouka Bay” is built on around 220 acres, “D-Bay” spans over 200 acres, and “Salt” over 300 acres. In East Cairo is “Bloomfields” a mixed-use first home development located in Mostakbal City on an area of 415 acres with a dedicated 90 acres for an educational zone, while in West Cairo is “Rivers” nestled on 100 acres. And through those iconic projects, the real estate developer has placed its footprint in all strategic locations in the Egyptian market.
In addition, Tatweer Misr’s participation in this exhibition is in line with its vision of exporting Egyptian real estate to foreign markets and expanding into regional markets by enhancing partnerships with relevant entities and institutions in the region, such as the Ministry of Investment, Municipal and Rural Affairs, and Housing in the Kingdom of Saudi Arabia, as well as Naif Al-Rajhi Investment Group,
Whereas, In March of this year, Tatweer Misr announced the signing of a memorandum of understanding Between Dr. Ahmed Shalaby, President & CEO of the company, and Mr. Fahad J. Alnaeem, Deputy minister of Investments for Development at the Saudi Ministry of Investment, and Mr. Abdelrahman AlTawil , Deputy minister for Real Estate Development at the Ministry of Municipal, Rural affairs and housing to discuss investment opportunities in the Kingdom, and promote government initiatives that facilitate the procedures of real estate development.This announcement was made during Tatweer Misr's participation in MIPM, the world's largest and most renowned real estate exhibition.
Furthermore, in May of this year, Tatweer Misr announced the signing of a strategic partnership with Naif Alrajhi Investment Group, a leading group in real estate development, investment, partnerships, and acquisitions, to establish a joint venture for real estate development. This partnership aims to develop integrated urban projects and tourist resorts according to the highest international standards in KSA, in order to create added value to the Saudi real estate market through the expertise of both entities, and help contribute to achieving the Kingdom’s Vision 2030.
As part of its regional expansion efforts, Tatweer Misr chose Saudi Arabia as its first step in expanding beyond Egypt through its partnership with Naif Alrajhi Investment group. This partnership seeks to foster cooperation and exchange of expertise between the two companies in the real estate sector. It aligns with both companies' strategic visions to achieve comprehensive urban development, including the development of projects that offer a distinctive quality of life and various services, including community & facility management, thereby creating added value for residents, project stakeholders, and neighboring areas.
Dr. Ahmed Shalaby, President & CEO of Tatweer Misr, commented on this participation, saying: "We are delighted to participate in the Cityscape Global Exhibition, which falls within the company's strategy of expanding and opening up to international markets. It aims to showcase Egyptian real estate products and attract the interest of potential investors. Our goal through this participation is to strengthen our presence in the Saudi real estate market, where we are working together with our partners, Naif Al-Rajhi Investment Group, to finalize all procedures related to launching the joint entity and introducing our initial projects to the Saudi market, specifically in Riyadh."
Shalaby praised the company's decision to target the Saudi market as part of its external expansion strategy, noting that Saudi Arabia possesses several competitive advantages that make it an attractive destination for real estate developers. Saudi Arabia is the second most populous Arab country in the region, following Egypt, with a population exceeding 32.17 million as of the first quarter of 2023. Furthermore, the average age of Saudis under 30 years old accounts for 63% of the population. The government has set ambitious goals to build 1.5 million housing units by 2030, in addition to launching global residential and tourist projects such as NEOM, the Red Sea, Qiddiya, and Amala. Moreover, Saudi Arabia has succeeded in creating an encouraging investment climate that facilitates the launch of more residential projects. There are also plans to boost private sector investments to raise the homeownership rate to 70% by 2030, besides the fact that the real estate development sector in Saudi Arabia stands out as one of the best investment areas, and the Saudi government is dedicated to improving and enhancing its investment climate, fostering a globally recognized quality environment, building distinctive productivity capabilities, and addressing challenges and difficulties faced by investors.
Tatweer Misr's participation in the Cityscape Global Exhibition marks a culmination of the company's significant achievements over the past nine years. During this time, Tatweer Misr has become one of the leading real estate development companies in Egypt, leaving its distinctive mark on all strategic areas of real estate development in Egypt, including east and west Cairo, the north coast, and the Red Sea. Tatweer Misr began its journey with the IL Mont Galala project on the Red Sea coast, which achieved tremendous success, enabling the company to expand and thrive subsequently.
About Tatweer Misr
Established in 2014, Tatweer Misr is an Egyptian shareholding company that fosters a vertically integrated business model in various development fields. The company upholds an optimistic vision to establish fully integrated urban communities based on innovation, sustainability and quality that reflects the company’s commitment to delivering added value to its customers, shareholders and partners. Tatweer Misr has 6 significant projects in various phases of development and planning across Egypt with investments totaling more than USD 5 billion.
Through its iconic projects, the real estate developer has placed its footprint in all strategic locations in the Egyptian market. Project locations include: the Red Sea where their award winning flagship project “IL Monte Galala” is built on around 545 acres in Ain El Sokhna; the Western North Coast where “Fouka Bay” is built on around 220 acres, “D-Bay” spans over 200 acres, and “Salt” over 300 acres. In East Cairo is “Bloomfields” a mixed-use first home development located in Mostakbal City on an area of 415 acres with a dedicated 90 acres for an educational zone, while in West Cairo is “Rivers” nestled on 100 acres.
During the past years, Tatweer Misr has succeeded in creating a distinctive quality of life by providing various operational and facility management services, as testified by its customers and project visitors.
