Tharaa Developments begins operations in Egyptian market with two projects worth EGP 22bn

In a strong start reflecting an ambitious plan and strong financial capacity, Tharaa Developments has announced its entry into Egyptian real estate market. The company has unveiled two projects with total investments reaching EGP 22bn, located in North Coast and New Sheikh Zayed.

Tharaa Developments’ shareholders include Islam Hashim, chairman of Tharaa Developments and CEO of Contract Construction CD, as well as Dr. Sherif Badr, who has over 36 years of experience in construction, project management, and business management, with strong expertise in strategic management for several major real estate development companies.

The shareholder structure also includes prominent businessman Mohamed El-Kashef, who has extensive experience in real estate investment, engineering services, and hospitality management. He oversees the central operations of Alba Homes company across all its branches in the UAE, Saudi Arabia, and Oman, and also serves as the CEO of Red Sea Hotels.

Chairman of Tharaa Developments Islam Hashim stated that the company was launched with a paid-up capital of EGP 1bn and specializes in developing integrated residential and tourist projects. The company’s shareholder structure includes three founders with strong experience in real estate development and contracting, reflecting the depth of expertise behind the company and its future growth and expansion opportunities in the Egyptian market.

He confirmed that the company has conducted necessary market studies to ensure it delivers modern projects that provide clients with distinctive residential and investment experiences. This will become clearer with the official launch of the two new projects, which are expected to attract significant interest and demand from targeted clients.

Ahmed Zayed CEO at Tharaa Developments stated that the first project is located on the Mediterranean Sea in the North Coast, positioned directly on the beachfront. The project’s location was chosen with great care to offer a comprehensive and unique residential and tourist project in all its details, along with a hotel managed by a global brand, providing a unique experience for both Egyptian and international tourists.

Zayed explained that the second project is a residential development in New Sheikh Zayed, offering a comprehensive service project that will represent a qualitative leap in such projects in west Cairo. With the integration of the company’s expertise and its expansion plans, it will provide its clients with distinctive and exemplary projects.

For his part, Head of Sales at the company Mohamed Attia highlighted that Tharaa Developments plans to offer distinctive real estate products at competitive prices, based on strong market studies that account for market developments and client needs. Additionally, the company will provide flexible payment systems for new projects that suit targeted clients.