QORE Commits EGP 30bn to Egyptian Real Estate Through 2030
The company will build Maydan in 6th of October City using internal funds and new partners.
Key points
- QORE will invest EGP 30bn in Egyptian real estate projects by 2030.
- The Maydan project in 6th of October City will cover 30,000 square metres.
- Internal financing will cover between 30% and 40% of the construction costs.
QORE announced an EGP 30bn investment plan for the Egyptian market through 2030. This capital will fund the development of its first mixed-use project, Maydan.
Construction on the 10,000-square-metre site has already started in 6th of October City. The company expects to cover 30% to 40% of costs through internal financing.
Partnerships Define Project Execution
QORE signed agreements with Inversion, Hafez Consultants, and TSM Asset Management. These firms will manage strategy, design, and operations for the new development.
Inversion will lead the investment strategy and development planning for the complex. Hafez Consultants is responsible for all engineering and architectural design work.
TSM Asset Management will oversee daily operations and retail strategy. This includes managing the commercial mix and administrative services within the building.
Project Scope And Timeline
Maydan will occupy approximately 30,000 square metres of total built-up area. The development period is targeted for completion within three years.
The facility will house commercial spaces, offices, and medical clinics. It will also offer tax and accounting services to local factory owners.
Group Background And Future Plans
QORE is part of a group with 19 companies and 1,555 employees. The group has completed over 100 projects in construction and infrastructure.
The company plans to evaluate additional land plots in 6th of October City. Potential sites include areas in Al-Thawra and Boulevard for future expansion.
