Cairo – Mubasher: Emaar Alex Developments penned an EGP 4 billion agreement with SIA Business Development for the sale and marketing of the La Baia Sidi Abdel Rahman project.
The agreement aims to boost the two companies’ presence in the Egyptian real estate market, according to a press release.
Mohamed Elhanash, Chairman of Emaar Alex Developments, stated that investments dedicated to the La Baia Sidi Abdel Rahman project have reached around EGP 4 billion to be disbursed over three years.
The project is scheduled for delivery in three phases during that period.
For his part, Ahmed El-Haddad, CEO of SIA Business Development, said that his company's investment volume reached around EGP 7 billion this year, marking a significant increase compared to 2023 figures.
It is worth noting that SIA Business Development operates in developing, managing, and marketing real estate projects across a variety of sectors, including residential, tourism, and commercial projects.
The company has partnered on numerous residential projects with the Ministry of Housing, as well as tourist developments situated along various Egyptian coastlines such as Ras Sedr, Ain Sokhna, the North Coast, and Sharm El Sheikh.
