Egypt's newly-established real estate developer firm, Edge Holding for Urban Development says it has launched its flagship Oia Compound in the country's new administrative capital, 40km (24.8 miles) east of Cairo. The project was launched in the presence of Hussein Sabbour, Al Ahly for Real Estate Development's chairman, Hazem El Sherif, Edge's chairman, Fathy El-Sebai, Housing and Development Bank's (HDB) chairperson, and Mohamed El Asy, Edge's chief executive. Hussein Sabbour, Chairman of Egypt's Al Ahly for Real Estate Development Company Nader Badr, Edge's vice chairman for commercial, said Sunday his company prepares to launch a new major project on a space of 100 feddans in New El Alamein City, northwest of Cairo. Founded in 2018, Edge Holding is a result of a huge mutual fund between Al-Borouj Egypt and El-Mashareq in Saudi Arabia. The company, established to seize the huge investment opportunity in Egypt, has a huge vision for the real-estate business in Egypt and with huge plans for the future. In 2006, As for El-Borouj Egypt is construction firm that is owned by a group of Egyptian investors, with a track record over ten years in the construction business, with a net worth exceeding one billion of successful projects. Established in 1970, El-Mashareq seeks to expand its business in the cities of New El Alamein and New Capital as well as Ain Sokhna within the upcoming two years.
