Key Factors
- The EGP2.5 billion ($49.7 million) deal boosts Morshedy Group’s high-end property portfolio and helps Cairo’s resort capability growth.
- The 50-story Fouda Tower will probably be reworked right into a mixed-use growth with high-end residences and a premium resort.
- Morshedy Group continues its progress with main tasks like Skyline, set to be the world’s largest residential constructing.
Morshedy Group, the true property agency led by Egyptian tycoon Mohamed Morshedy, has acquired Zamalek’s iconic Fouda Tower together with a 4,000-square-meter plot from a serious state-owned financial institution. The corporate plans to transform a part of the location into a contemporary parking facility to ease congestion and enhance comfort for residents and guests.
The EGP2.5 billion ($49.7 million) deal strengthens Morshedy Group’s presence in Egypt’s high-end property market and aligns with the federal government’s efforts to develop resort capability as tourism and enterprise journey proceed to develop.
Remodeling Zamalek’s skyline
Morshedy Group is about to redevelop the 50-story Fouda Tower right into a luxurious mixed-use growth that includes high-end residences and a premium resort. CEO Nour Morshedy stated the mission will add worth to the district whereas sustaining its distinctive allure.
Chairperson Wael Saada emphasised the corporate’s broader progress, together with Skyline, a landmark residential mission spanning 200,000 sq. meters. Designed by Egyptian architect Raef Fahmy in collaboration with Spain’s VDP Studio and world-renowned architect Mohamed Hadid, Skyline is about to develop into the world’s largest residential constructing.
Morshedy Group’s increasing portfolio additionally contains One Katameya, a mixed-use complicated with eight industrial and administrative buildings alongside 30 residential buildings housing practically 4,000 items, in addition to Zahra, a large-scale growth in New Alamein Metropolis.
A legacy of innovation
Based in 1983, Morshedy Group has constructed a status for daring architectural designs, delivering houses to over 80,000 purchasers throughout Egypt. Its key division, Memaar Al Morshedy, was established with a imaginative and prescient to redefine Egypt’s actual property sector and has performed a serious function in shaping the nation’s city panorama for practically 4 many years.
With the acquisition of Fouda Tower, Morshedy Group is reinforcing its place in Egypt’s luxurious actual property market, increasing its footprint in Cairo, and making ready for the following part of progress within the capital’s evolving property sector.
