Egyptian Kuwaiti Real Estate Development Unveils Strategic Plan for 2024
Egyptian Kuwaiti Real Estate Development has announced an ambitious strategic plan for 2024.
2 min
With a legacy spanning approximately 40 years and founded on a robust partnership between the Egyptian and Kuwaiti governments, Egyptian Kuwait Real Estate Development aims to make 2024 a pivotal year. Leveraging its extensive experience and diverse work history, the company plans to launch a varied portfolio of projects, undertake organizational restructuring, and recruit new talent. These initiatives are designed to bolster the company’s market leadership and ensure its continued dominance throughout the year.
Yousry Selim, Managing Director of the Egyptian Kuwaiti Real Estate Development Co, said that the company is starting to implement this plan by launching a portfolio of diverse projects during the coming period in East and West Cairo, restructuring and including cadres that will make the company at the forefront of real estate development companies in Egypt and the Arab world in order to help achieve Egypt’s 2030 vision.
Mohamed Aloui, general consultant for the Egyptian Kuwaiti Real Estate Development Company, said that the company is launching a distinctive project in the “heart of Taj City” at EGP 1.5 billion pounds investments. It is a distinguished project located in an exceptional place and was designed and being implemented with the highest quality standards.
He added that the new project, NOBLE RESIDENCE, is located over 25 acres, and is an integrated residential project that includes 180 various units, including villas, twin houses, and townhouses. Nearly 50% of the project has already been implemented, and its delivery will begin by the end of 2026, as the company has strong competencies and long experience. He also pointed out that implementation before marketing ensures a realistic vision of the unit before contracting for it.
He explained in special statements that cooperation was made with Arch Plan to develop the architectural design of the project, which is one of the strong engineering consulting offices in the real estate market, as the company is implementing a distinguished project commensurate with the extent of its expertise and the distinctiveness of its project location, indicating that the company offers flexible and competitive payment systems. For project clients with repayment periods of up to 8 years.
He pointed out that the Egyptian Kuwaiti Real Estate Development Company started in 1978 by a presidential decision and in partnership between the Egyptian and Kuwaiti governments, with the aim of implementing various projects, making it one of the first companies to establish the concept of real estate development, as it implemented various projects in Nasr City, the Fifth Settlement, Maadi, and Heliopolis, which It varied between integrated projects and separate buildings.
He pointed out that the company is planning to include a huge portfolio of plots located in distinctive places, which will be benefited from in the coming period and the launch of various projects on these lands during the coming period, in parallel with a plan for internal restructuring of the company and cooperation with human cadres and strong expertise to work in the company. In order to achieve its ambitious goals for the coming period.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
This collaboration will extend into the fourth phase of Azizi’s Riviera project in MBR City, with Cummins supplying top-tier power generators.
2 min
Azizi Developments, a prominent private developer in the UAE, and Cummins Inc., a global leader in power solutions design, manufacturing, distribution, and supply, are extending their partnership into the fourth phase of the large-scale Riviera project. Cummins, known for its diverse range of products including diesel, natural gas, electric, and hybrid powertrains, as well as powertrain-related components, like filtration, after-treatment, turbochargers, fuel systems, control systems, air handling systems, automated transmissions, electric power generation systems, batteries, hydrogen generation, and fuel cell products. The manufacturer is globally renowned for its excellence in both innovation and sustainability.
Mr. Farhad Azizi, CEO of Azizi Developments, said: “As we continue our collaboration with Cummins Inc. for the fourth phase of our flagship project, Riviera, we reaffirm our commitment to procuring and utilizing only the highest quality materials. This partnership highlights our dedication to providing exceptional lifestyles for our investors and end-users through the careful selection of premium components. We are confident that our now-broadened alliance with Cummins Inc. will help in maintaining the high standards established for Riviera and further elevate the benchmarks of quality and excellence.”
Riviera is part of Azizi Developments’ award-winning portfolio. It is a stylish waterfront lifestyle destination that comprises 75 mid- and high-rise buildings with approximately 16,000 residences.
Designed to introduce the French-Mediterranean lifestyle to Dubai, which is not merely about architectural art, but also about a certain ‘joie de vivre’ — a celebration of life, an exultation of spirit, Riviera represents a new landmark destination that is both residential and commercial, with an abundance of retail space. Riviera features three districts: an extensive retail boulevard, a lagoon walk on the shores of its 2.7 km-long swimmable crystal lagoon with artisan eateries and boutiques, and Les Jardins — a vast, lush-green social space.
With its strategic location near the upcoming Meydan One Mall and the Meydan Racecourse — home of the Dubai World Cup — as well as Dubai’s most noteworthy points of interest, Riviera represents one of Azizi Developments’ most coveted projects.
Azizi Developments’ Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
