Delta Capital, a leading real estate development company in the Delta region, has entered into a strategic partnership with Emirates Global Real Estate Investments (EGRI), a subsidiary of the NCE Group, to launch a series of integrated real estate projects with estimated investments reaching $500 million. This partnership reflects the growing confidence in the Egyptian real estate market and emphasizes the depth of economic relations between Egypt and the UAE.
The agreement was signed during an official ceremony held in Cairo, attended by His Excellency Hamad Obaid Al Zaabi, the UAE Ambassador to Egypt, along with several ministers, ambassadors, sports club presidents, and prominent businessmen from both countries. The agreement was signed by Engineer Abdel Hadi Hijazi, Chairman of Delta Capital, and Mr. Badr Faris Al Hilali, Chairman of Emirates Global, in the presence of leaders from both sides.
Event Details
The partnership aims to develop a land portfolio of up to 500 acres, directing investments towards the creation of mixed-use projects that include residential, commercial, and service activities. Targeted locations include Cairo, Kafr El Sheikh, and El Mahalla El Kubra, with construction work for these projects expected to commence in 2027 according to the highest global standards in design and execution.
In a statement, Engineer Abdel Hadi Hijazi said, "Today, we lay the cornerstone for a new phase of urban expansion, thereby enhancing our position as the top real estate developer in the Delta. Our collaboration with a partner of the caliber of Emirates Global reflects the trust of Arab investors in the strength of the Egyptian economy."
Background & Context
Delta Capital was established in 2015 and has successfully made a significant impact on the Delta coast along the Mediterranean. The company has developed three major projects over an area of 120 acres, with two of these projects operational, totaling 4,000 units, while the third project is currently being delivered. Its market strength is further highlighted through its partnership with "Nations of Sky" for the development of the "Isla" project in New Mansoura.
Emirates Global (EGRI) is part of the NCE Group, founded by Mr. Badr Faris Al Hilali in 1981, based in Abu Dhabi. The group has a diverse portfolio of companies specializing in facility management, security services, and engineering, investing in several countries including the UAE, Egypt, and the UK.
Impact & Consequences
This partnership is a strategic step that enhances the attractiveness of the Egyptian real estate market, potentially leading to an influx of foreign investments. It also reflects confidence in the Egyptian economy, especially amid global economic challenges.
These projects are expected to contribute to the creation of new job opportunities and bolster economic development in the targeted areas, improving the living standards of local residents.
Regional Significance
This initiative comes at a time when the Arab region is witnessing significant economic transformations, as countries strive to enhance economic and trade cooperation. The partnership between Egyptian and Emirati companies serves as a model for Arab cooperation, potentially encouraging other nations to strengthen their investment partnerships.
In conclusion, this partnership between Delta Capital and Emirates Global reflects a shared vision for a better future in real estate development, contributing to sustainable development in the region.