– Egyptian real estate firm Golden Town Development forms partnership with Saudi businessman Ahmed bin Abed Al-Juhani for EGP 10 billion investment in Egypt’s real estate sector.

– The collaboration aims to acquire extensive land holdings and launch multiple real estate projects across Egypt, including in modern cities like the Administrative Capital and the North Coast.

– Golden Town’s expansion strategy includes the development of a major commercial and entertainment complex, alongside existing projects such as hotels, mixed-use towers, and residential apartments.

An Egyptian real estate firm has initiated a new venture, aiming to inject EGP 10 billion ($208.4 million) into Egypt’s real estate sector.

Golden Town Development, based in Cairo, disclosed its collaboration with Saudi entrepreneur Ahmed bin Abed Al-Juhani for investment activities within Egypt.’

Raafat Maher, Chairman of Golden Town Development, stated, “This partnership is geared towards significant investments, extensive land acquisitions, and the establishment of numerous real estate projects in the near future.”

While specifics regarding Al-Juhani’s involvement were not disclosed, the alliance forms a crucial part of Golden Town’s expansion strategy within Egypt.

The company’s expansion endeavors are directed towards investing over 10 billion pounds and acquiring new real estate assets across modern Egyptian cities, including the Administrative Capital, the North Coast, East and West Cairo, and the new Sheikh Zayed City.

Golden Town is gearing up to unveil its largest project soon, featuring a commercial, entertainment, and service complex comprising three interconnected towers.

The firm’s project spectrum encompasses hotels, mixed-use towers, and residential apartments, as outlined on its website.