Egypt's Anchor Developments plans starting up with $528mln investment

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Cairo – Alsarh Holding Group's real estate development arm, Anchor Developments, intends to enter the real estate market in 2022-2023 with an ambitious investment plan of EGP 10 billion, according to a press release on Tuesday.

Egypt is currently developing its urban infrastructure, and the inauguration of new fourth-generation cities has made promising investment opportunities in the real estate sector available, Chairman of Anchor Developments, Amr Ali, stated.

Ali added: "Alsarh Holding Group has strong experience in the contracting and construction fields, giving the new company a lot of expertise and a business precedent to draw from in developing its new projects, in addition to ensuring it has strong financial solvency to develop its projects based mainly on self-financing."

Anchor Developments will shortly announce its first projects, which will be constructed in the New Administrative Capital (NAC) in collaboration with a significant investment entity, after receiving ministerial approval.

As a smart and sustainable city, the NAC has become an investment destination in the local market, in which a strong foreign investment volume exists, reflecting confidence in this distinguished project.