A strategic collaboration between three leading real estate developers – SIAG Developments, El Alwy Urban Development, and Misk Development – has given rise to Mahawer Developments, a new company set to invest EGP 7 billion in real estate projects across New Damietta and Egypt’s Delta region.
The founders of Mahawer Developments emphasized the company’s commitment to supporting Egypt’s urban renaissance by developing innovative and sustainable projects aimed at promoting smart urban expansion. Drawing on the extensive experience of the founding companies in both the Egyptian and Gulf markets, Mahawer seeks to redefine real estate development in the region by focusing on premium locations and high-quality designs.
SIAG Developments, known for its innovative residential, commercial, and administrative projects in the Delta, is committed to creating vibrant communities that offer more than just living spaces. El Alwy Urban Development, which has over 25 years of experience in both the Gulf (Qatar and UAE) and Egyptian markets, integrates modern technology into its projects to meet both local and international standards. Misk Urban Developments, a Saudi-backed firm with over 20 years in Egypt, is renowned for its luxurious designs that align with global real estate standards.
The founders of Mahawer Developments highlighted the potential of Egypt’s real estate sector, noting that it continues to attract both local and international investment. They also acknowledged the crucial role of the Egyptian government, particularly the New Urban Communities Authority, in fostering an environment conducive to real estate investment.
Maged El-Basiony, CEO of Mahawer, stated, “Mahawer is not just an alliance; it represents a bold vision that combines innovation, ambition, and experience with forward-thinking strategies.” Hossam El Alwy, a board member of Mahawer, emphasized that real estate development is not just about construction, but about creating intelligent, interconnected environments that enhance people’s lives and meet the evolving needs of modern society.
Through this strategic collaboration, Mahawer Developments aims to make a significant impact on Egypt’s real estate market, contributing to the country’s ongoing growth and urbanization efforts with sustainable and visionary projects.
