Arcline Real Estate Development has officially entered the Egyptian market through an Egyptian-Emirati partnership, as the company seeks to build an investment portfolio valued at approximately EGP 20 billion through a series of real estate projects, with the New Administrative Capital serving as its initial focus.
Yasser El-Prince, Chairman of Arcline Real Estate Development, said the company aims to leverage Emirati expertise in contracting, project execution, and management, while utilizing Egyptian expertise to develop real estate products that meet the needs of the local market.
Three Projects in the New Administrative Capital#
El-Prince explained that the New Administrative Capital will serve as the company's main starting point in Egypt, with its first project planned for the MU23 area.
Arcline plans to develop three projects in the New Administrative Capital during its initial phase, with a targeted investment portfolio of around EGP 20 billion. The company also plans to expand its operations into East and West Cairo at later stages.
The company's first project is named "Metrova" and is located in the MU23 area. The development includes commercial, administrative, and hospitality components, with the company expected to announce further details regarding the project and its implementation plans in the coming period.
Partnerships for Project Management and Operations#
As part of its preparations for the project, Arcline has entered into agreements with specialized companies to manage and operate different components of the development.
RIGS is responsible for attracting international companies to the administrative component, while Commerca is working to attract brands to the project's commercial component.
Company Pays More Than 80% of Land Value#
Arcline's Chairman revealed that the company has paid more than 80% of the value of the land allocated for its first project, describing the high payment ratio as a reflection of the company's financial strength and commitment to implementing its investment strategy in Egypt.
Meanwhile, Sheikh Omar Al Marzouqi, the Emirati partner and board member of Arcline Real Estate Development, said the establishment of the company reflects the partners' confidence in the investment opportunities available in the Egyptian market, particularly amid continued urban expansion and the growing opportunities within the real estate sector.
Arcline's strategy forms part of its broader plan to build a diversified real estate portfolio in Egypt, initially focusing on the New Administrative Capital before expanding into other areas of Cairo in subsequent phases.
