QORE Enters Egypt's Real Estate Market With EGP 30bn Investment Plan Through 2030

QORE has entered Egypt’s real estate development market, saying its move builds on more than 30 years of experience in construction, infrastructure and manufacturing, which it plans to leverage to develop and operate real estate projects in the country.

The company’s EGP 30bn investment plan through 2030 will be supported partly through internal financing, with self-funding expected to cover between 30% and 40% of construction costs, QORE said.

Its first project, Maydan, is being developed on approximately 10,000 square metres of land with a total built-up area of around 30,000 square metres and a targeted development period of three years. Construction has already begun. The mixed-use scheme will include commercial spaces, administrative offices and medical clinics, alongside an operational and service component targeting companies and factory owners with commercial, administrative, accounting and tax-related services.

QORE has signed partnerships with Inversion, Hafez Consultants and TSM Asset Management for the development and operation of Maydan. Inversion will provide advisory services on the project’s development and investment strategy, Hafez Consultants will handle engineering consultancy and design, and TSM Asset Management will oversee asset management, operations, commercial activities and retail strategy.

Medhat Sayed Abdel Hafiz, CEO of QORE, said the company’s entry into real estate development represents an expansion of its existing activities in construction, infrastructure and manufacturing. Mohamed Diab, CEO of Inversion, said the company’s role would focus on planning and development strategy, including the project’s mix of uses and operational model.