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Egyptian developer Delta Capital for Urban Development (DCUD) has entered into a strategic partnership with Emirates Global Real Estate Investment (EGRI), a subsidiary of Abu Dhabi-based NCE Group, to launch a portfolio of integrated mixed-use projects in Egypt with a total estimated investment of $500 million.
The partnership aims to develop a 500-acre land bank across various locations in Egypt, Delta Capital said in a press statement.
The statement said the partnership will invest in multi-purpose projects spanning residential, commercial, and service sectors in strategic locations including Cairo, Kafr El-Sheikh, and El Mahalla El Kubra.
Construction is slated to commence in 2027, the statement said, adding that the partnership has appointed YBA Architects as general consultant for its projects.
Abdel Hady Abdel Aziz, Chairman of DCUD, said the partnership with EGRI will target high-potential regions in Egypt beyond the traditional hubs.
Bader Fares Al Hilali, Chairman of EGRI said the Egyptian economy holds propects for projects serving major urban clusters in the governorates.
Part of the Abu Dhabi-based NCE Group, founded in 1981, EGRI manages a diversified portfolio across facilities management, security services, and engineering. The group operates internationally with a footprint in the UAE, Egypt, the UK, the USA, Bahrain, and India.
Al Hilali is best known as the founder and Chairman of the Emirates Industrial Converting Factory (EICO), UAE's leading manufacturer and exporter of tissues, corrugated cartons and plastic bags.
(Writing by Eman Hamed; Editing by Anoop Menon)
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