Samco Holding to launch its first projects in the Egyptian market at EGP 15bn investments

Samco Holding, a real estate development company, is preparing to launch its first projects in the Egyptian market, with investments of EGP 15bn, in a location that will be announced soon, in a surprise to the real estate market.

Eng. Saddam Al-Sayed, Chairman of Samco Holding, said that his company has a good reputation and a history in various investment fields.

He added that Samco Holding includes a group of major companies working in the fields of contracting, pharmaceutical and petrochemical industries, energy, and the new company is the real estate arm of the group.

He pointed out that the company has a strong plan, as it aims to launch a project with investments amounting to about EGP 15bn during the next few weeks, stressing that the first project will be followed by projects with larger investments in close periods.

Eng. Saddam Al-Sayed stressed that the Egyptian real estate market is strong and attractive for investment, pointing to the large Arab investments that have chosen Egypt to pump their investments, in addition to the support provided by the political leadership and the government to push the investment wheel and motivate investors with several investment incentives, whether for Egyptian or foreign investors.

For his part, Eng. Ibrahim Zayed, General Manager of Samco Holding, said that the company has a strong business precedent and experience that extends for many years and a well-known name in the real estate market, as the contracting arm implemented more than 20 projects in cooperation with the Engineering Authority of the Armed Forces, in addition to implementing more than 50 projects with the private sector.

Zayed emphasized that Samco Holding aims to expand with major real estate projects in the New Administrative Capital, The fifth assembly and Sheikh Zayed city, pointing out that the company's investment appetite came after long studies of the nature of the Egyptian market and its needs, and to ensure the company's ability to develop strong projects capable of competition.