Westway Developments announces an alliance of major entities to support its expansion plans

Dr. Mohamed Farouk: Westway is a strong alliance that includes large entities with long experience in the real estate sector. We have 60,000 families living in our projects

Hussein Salah: We decided to expand despite the economic conditions at a time when other companies prefer to reduce their activities, and we aim to invest EGP 10 bn pounds during the current year

Hany Helmy: We have an ambitious plan to expand in October Gardens, New Zayed City

West Way Developments announced its investment plan and targeted projects during the current year.

Dr. Muhammad Farouk, Chairman of West Way Developments, said that the company was established from an alliance of huge real estate entities that includes DIG Developments, Al Youssef, Deyaar, and Mimar Al-Farouk. He added that all parties to the alliance have a large business precedent and a portfolio of projects that include about 20 thousand delivered units, About 60,000 families live in the projects of the companies joining the alliance.

He added that Westway started its activities with a group of major projects in western Cairo, in Sheikh Zayed, New Zayed, and New October, and the company also plans to expand in educational projects outside Cairo.

Pointing out that the company, although it started developing residential, commercial and medical projects in western Cairo, has an expansion strategy aimed at establishing various projects in various regions of the Republic.

For his part, Hussein Salah, Vice Chairman of Westway Developments, confirmed that the new entity owns a large portfolio of projects and lands that have been allocated and paid for, which confirms the company’s strength and strong financial solvency, which helps diversify and expand the company’s portfolio of projects.

Pointing out that the company’s strategy depends on preparing strong market studies to face price fluctuations and the continuous increases in the prices of building materials, stressing that Westway chooses its project sites very carefully to ensure the success of marketing and operation. It also studies market demands and customer needs to provide an appropriate product that achieves the company’s goals and ensures the success of its strategy.

Salah added that West Way is contracting with major consulting, management and operation companies to ensure the provision of a competitive real estate product, noting that the company launched the 360 Health project, which is a specialized medical project in the ninth district of Sheikh Zayed City in the most distinctive and thirsty areas for specialized medical projects, and the project is located on an area of 1,313sqm, with investments of EGP 500mn, and its implementation is scheduled to take about 30 months, indicating that Healthy Care is the medical operator of the project.

Hany Helmy, managing director of Westway Developments, said that the company is implementing a residential project that includes villas in New Zayed City on an area of 5 acres, with investments of EGP 250mn, pointing out that Ray Design is the general consultant for the project.

Westway plans to launch a residential project in New Zayed City on an area of 15 acres with investments of EGP 750mn, in addition to a medical commercial project in Sheikh Zayed City on an area of 2,300sqm, with investments of EGP 750mn.

Helmy added that the company plans to launch a commercial project in New October City on an area of 4,400sqm, with investments estimated at EGP 1.25bn.

Pointing out that the company has an ambitious plan to expand in the New October and Zayed Gardens, and is also studying the implementation of a project on the North Coast during the coming period.

The Board of Directors of Westway Developments affirmed that the current period and the current economic conditions stimulate the formation of strong investment alliances capable of expanding, facing challenges in the market, meeting customer requirements, and adhering to set timetables.

West Way Developments strategy is based on the strong financial solvency of the shareholders, the exchange of decades of experience, in addition to paying attention to market study, identifying strengths and weaknesses, and settling on distinguished sites and real estate products that meet customer demands, whether they are residential, commercial, medical or educational projects.

The company is also interested in selecting the work team very carefully, as it is characterized by experience and the ability to work in harmony to serve customers and achieve the company’s goals.

The members of the Board of Directors of Westway Developments affirm their strong support for the state’s directions and focus on the areas that the state is moving towards developing to build integrated urban communities that suit the new republic.