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
Villa prices saw particularly strong growth, with capital values increasing by 33.4 percent year-on-year
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Dubai’s real estate market showed strong performance in the second quarter of 2024, with notable increases across the residential, office, and retail sectors, according to a new ValuStrat real estate report for Q2 2024.
Villa prices experienced particularly strong growth, with capital values rising by 33.4 percent year-on-year.
Haider Tuaima, Director and Head of Real Estate Research at ValuStrat said: “The Dubai real estate market has shown impressive growth and resilience in recent months. The ValuStrat Price Index for Residential Capital Values increased by 6.4 percent quarterly and 28.2 percent annually, reaching 178.2 points.
“Despite severe flooding caused by record rainfalls in April, the quick and effective response from developers and authorities helped to control the damage, ensuring that market activity and property valuations remained robust in the subsequent months.”
The office sector also performed well, with the VPI for office capital values surging by 31.7 percent annually and 9.4 percent quarterly, reaching 212.5 points—the highest quarterly increase in a decade.
In the retail sector, Emaar Properties reported 98 percent occupancy in their prime mall assets, while overall mall occupancy stood at 96 percent during the first quarter of 2024. The hospitality sector also saw growth, with total international guests reaching 8.12 million as of May 2024, a 9.9 percent increase compared to the same period last year. Hotel occupancy reached 81 percent, rising by 1.4 percent year-on-year.
Despite these positive indicators, Tuaima added, “The decline in transaction volumes calls for a closer examination of market dynamics as stakeholders navigate this evolving landscape.”
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
