Grosign Development acquires more than 20% of Al-Andalus Gardens in New Cairo

Grosign Development company, announced its plan to invest over EGP 2.5 billion in developing residential projects in Al-Andalus Gardens in ​​New Cairo, which are planned to be launched next November, designed as boutique compounds, as a part of a strategy aimed at strengthening the company’s presence in East Cairo.

Bahaa Saad, CEO of Grosign Development, said that the move into Al-Andalus Gardens, is part of the company’s plan to embark on a new phase of growth and expansion in the Egyptian real estate market, as this strategy focuses on selecting locations with promising investment potential and studying available development opportunities, which allows the company to direct investments towards areas with future growth potential and develop projects that align with specific characteristics of each area and the needs of its clients.

He emphasized that the company aims to strengthen its projects portfolio in East Cairo, starting with New Cairo, which represents a key focal point in its expansion plan, as New Cairo boasts significant urban and investment advantages, along with its connection to a network of major transportation arteries and its proximity to the New Administrative Capital, all of which underscores the importance of studying the available opportunities and identifying the real estate products that suited current demand.

He pointed that the company aims to allocate over EGP 500 million in the first phase of its new projects in Al-Andalus Gardens, as part of a larger investment plan exceeding EGP 2.5 billion, as this plan benifits from the area’s geographical and urban advantages, located at the end of Southern 90th Street, near the Middle Ring Road and the New Administrative Capital, noting that the selection of this district aligns with the company’s strategy to capitalize on investment opportunities offered by the urban expansion zones in New Cairo.

He further indicated that the company owns more than 20% of Al-Andalus Gardens, a move reflecting its commitment to strengthen its presence there and capitalize on available development opportunities, which will be achieved by offering residential projects based on “Boutique Compound” model, that aims to provide a distinct product in terms of project nature and planning, suited the aspirations of its target clients.

He clarified that Grosign Development’s strategy is not based solely on geographical expansion, but rather on the ability to identify and evaluate investment opportunities and choose the exact moment to enter them, noting that achieving sustainable growth in the real estate market requires a clear vision for guiding investments, an understanding of the nature of the targeted areas, and the ability to develop products that align with client needs, economic and market variables.

He pointed that the company aims to build upon its new investments to expand its operations in East Cairo in the coming phase, while also studying available opportunities in promising areas, which will support the diversification of its project portfolio and strengthen its market presence, in accordance with an expansion strategy linked to the viability of investment opportunities and the company’s ability to offer real estate products that apply market needs.