Egyptian Developers Unveils Attracta Project In El Shorouk City

(MENAFN- Daily News Egypt) Egyptian Developers has announced the launch of Attracta, a mixed-use development in El Shorouk City, as part of its strategy to expand its investment portfolio to EGP 20bn over the next five years.

Abdel Rahman Abu Zeid, Founder and Chairperson of Egyptian Developers, stated that Attracta spans 13,000 sqm and consists of a ground floor plus four additional floors. Designed as a fully integrated mall, the project will feature commercial, administrative, medical, and recreational spaces to meet the diverse needs of its clientele. The development will offer units ranging from 30 sqm to 600 sqm, accommodating a variety of customer requirements. Construction is set to begin within three months of contract signing, with delivery scheduled three years after the contract date.

Makhlouf Abd Rabo, CEO of Egyptian Developers, emphasized that the company has secured partnerships with leading industry players to ensure the project's success. InCommercial will handle management and operations, while MH Architects will oversee engineering consultancy. Maap and Setra have been appointed to manage the electromechanical and contracting services.

While preparing for the launch of Attracta, Egyptian Developers is also accelerating the construction of its ongoing projects. In Jaya Business Complex, more than 80% of the units have been sold. Jaya East Mall in El Shorouk is 90% complete, with finishing works in progress and over 80% of the units already sold. The second phase of Jaya East, Jaya Mark Mall, has achieved sales of more than 60%.

The company plans to invest EGP 1bn in construction this year, funding all its projects through self-financing. As part of its long-term expansion strategy, Egyptian Developers is also exploring opportunities in the North Coast and Ain Sokhna, aiming to diversify its investment portfolio and align with evolving market demands.

“Our goal is to achieve EGP 3bn in sales this year, driven by the launch of Attracta and the continued rollout of new phases in our existing developments,” Abd Rabo stated.

The project has also drawn expertise from industry leaders. Mohamed Mohy, Founder of InCommercial, confirmed that his company will oversee the management and operations of Attracta, ensuring optimal efficiency. Mohamed Hendawi, Founder and Chairperson of MH Architects, highlighted that this collaboration reflects their commitment to innovation and precision in engineering execution. Ahmed Farouk, CEO of Maap, noted that his firm is responsible for the design and electromechanical consulting of the project, while Mohamed Shoukry, Technical President and Founder of Setra Contracting, affirmed that Setra will be in charge of implementing the full electromechanical works for Attracta.

With the launch of Attracta, Egyptian Developers continues to strengthen its presence in Egypt's real estate sector, reinforcing its commitment to high-quality, integrated developments that cater to market demand.

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