Ma’alem Development unveils Malaga project in Egypt's North Coast with $405mln investment

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Ma’alem Development has announced an ambitious expansion plan, introducing the Malaga project in Sidi Abdel Rahman, North Coast, with investments nearing EGP 20bn. Spanning 105 feddans, this project marks a significant milestone in the company’s growth strategy.

Abdullah Anwar, Chairperson of Ma’alem Development, emphasized the company’s commitment to aligning with Egypt’s strategic development and reconstruction plans. Recognizing the growing interest in the North Coast, Ma’alem has chosen this region for its next major expansion, with construction set to begin in 2025.

The Malaga project is envisioned as a comprehensive resort, encompassing residential, commercial, recreational, and service facilities. Anwar highlighted that Ma’alem’s strategy involves collaborating with top consultants across various specializations to deliver innovative and valuable products to the Egyptian market. The company has partnered with Innovation and Positive Magnets for engineering and development consultancy. Additionally, Ma’alem is working with renowned marketing and real estate consultancy firms, including Coldwell Banker, The Board Consulting, and New Avenue Real Estate Marketing.

Designed in a Spanish architectural style, the project aims to emulate the charm of Spain’s most beautiful coastal cities.

Hussein Hassan, CEO of Ma’alem Development, said that the project will maintain a low building density, not exceeding 13% of the total land area, to maximize green spaces, water features, and landscaping. The development will include approximately 1,800 units, featuring a mix of villas and chalets, ensuring high levels of privacy for residents.

A key feature of the Malaga project is a large commercial mall spanning 12 feddans, which will include the first underground parking garage of its size in the area. This initiative aims to reduce congestion, improve traffic flow, and promote sustainability. The company has engaged a leading consultancy firm to conduct traffic studies.

Ahmed Zaki, co-founder of The Board Consulting, praised the collaboration with Ma’alem, highlighting the focus on strategic partnerships to enhance the real estate sector and meet the needs of clients both in Egypt and abroad.

Karim Zein, CEO of Coldwell Banker, remarked on the North Coast’s rapid growth and the responsibility of real estate companies to deliver projects with innovative specifications, payment methods, and competitive prices.

Ahmed El Dessouky, Chairperson of New Avenue for Real Estate Marketing, expressed that Ma’alem’s vision aligns with New Avenue’s strategy of partnering with serious companies to provide innovative marketing solutions.