Cairo – Mubsher: DAL Developments, the real estate arm of Daltex Corporation, plans to launch its first project in Egypt in Sheikh Zayed City in early March 2024 with a total building area of 20,000 square meters.
The Five-Fifty-Five project is the first of six real estate projects the company plans to develop in West Cairo, serving residential, commercial, administrative, and medical purposes, according to a press release.
The marketing campaign for the project is set to kick off immediately after the official launch in March, with a targeted contractual sales value of EGP 2 billion.
Hisham Al-Naggar, Vice Chairman of Daltex, stated: "Since the inception of Daltex, we have focused on the importance of development and reconstruction. With the launch of our real estate investment arm represented by DAL, we aim to channel all our accumulated experience into this promising field.”
Al-Naggar referred to Daltex’s track record in agricultural development, including the development of 58,000 feddans of desert land and the export of agricultural products to over 60 countries.
He stressed that DAL Developments adheres to its goal to expand real estate projects in the context of Egypt’s aspiration to double its urban area to 14%.
For his part, Samir Al-Naggar, Chairman of DAL Developments, said: "The company is committed to applying the consistent optimum quality approach through the incorporation of a distinguished group of real estate experts across the engineering, finance, and marketing sectors into the company's senior management.”
“The company is proud to announce that Ms. Ghada Nour, former CEO of Investment and Asset Management at Mountain View, has joined us as an experienced board member. Ms. Nour's addition is deemed significant in shaping the company's financial and investment strategies in the upcoming period,” he added.
Mahmoud Al-Maddah, DAL Developments' executive partner, unveiled that the upcoming project encompasses a multi-use development, seamlessly integrating commercial, administrative, and medical spaces across five floors.
He noted that the company enlisted the services of a specialized firm for the management and maintenance of the project post-implementation.
