Housing and Development Properties (HDP), the real estate arm of the Housing and Development Bank (HDB), has signed a construction contract with El Hazek Construction to begin work on its flagship residential project, Talda, in Mostakbal City, New Cairo. The development represents a total investment of EGP 2.5bn. HDP aims to deliver the residential units within 24 months, reflecting its solid financial position and commitment to meeting customer expectations. The Talda project reinforces HDP's growing status as a leading real estate developer in Egypt and the wider Middle East. The signing ceremony was attended by Amgad Hassanein, Vice Chairman of HDP; Mahmoud El Hazek, CEO of El Hazek Construction; Hossam Eissa, CEO of HDP; and Mohamed Said, General Manager of El Hazek Construction. Hassanein emphasized that the partnership with El Hazek is intended to ensure a high-quality, modern residential product built to top-tier standards. He noted that the collaboration supports HDP's long-term vision to become one of the region's largest real estate developers, offering premium developments to both local and regional markets. He added that the partnership is also instrumental in adhering to the project's delivery schedule, underscoring HDP's strategy of working with leading construction firms to guarantee excellence. Hassanein also pointed to the added value of HDP's affiliation with HDB and its group of companies—recognized as a key player in Egypt's urban development landscape for over 45 years.
Since its establishment, HDP has launched eight real estate projects within just two years. It is now preparing to roll out the second phase of Talda, while also planning new expansions in East and West Cairo as well as along the North Coast. HDP CEO Hossam Eissa described Talda as the company's first flagship project in East Cairo and a major addition to its strategic real estate portfolio. He said the development combines tradition and innovation, utilizing modern technologies to deliver a high-value housing product with a sustainable and refined urban living experience. Strategically located in the heart of Mostakbal City—between New Cairo and the New Administrative Capital—Talda spans 30 feddans and offers a variety of residential unit types and sizes at competitive prices to meet diverse customer needs. The project also features a comprehensive range of services and amenities, including a dedicated community center offering social, recreational, and utility facilities, all built around a modern infrastructure system. Mahmoud El Hazek, CEO of El Hazek Construction, reaffirmed the company's commitment to completing the construction works on schedule while maintaining international occupational safety standards. He noted that the project aims to deliver a world-class living experience that aligns with Egypt's national urban development strategy and fulfills residents' aspirations.
