Golden Pillars Developments has launched its latest project, Swar, in New Shorouk City, aligning with the company's broader investment strategy targeting EGP 15bn in real estate developments. Magdy Saad, Chairperson of Golden Pillars Developments, said the company's market studies reveal a significant gap between supply and demand for hospitality-focused projects. He noted that several strategic locations have been identified as part of the company's expansion into high-potential areas. Saad explained that the company has launched a mixed-use commercial and hospitality development designed to become one of the city's key destinations. It will be among the first hospitality projects introduced in Shorouk. The project includes a fully integrated commercial and hospitality complex featuring a 10,000 sqm commercial mall and a hotel building comprising around 150 rooms and hotel studios. He added that a clear development plan has been set, with implementation divided into phases and final delivery scheduled for 2028. Flexible payment plans will be offered to meet clients' needs. A specialised firm has been appointed to manage and operate the commercial spaces, while a global hotel brand will run the hotel units. This approach aims to safeguard the project's investment value, uphold high-quality standards, and guarantee exceptional service delivery. Saad also noted that negotiations are underway with several leading brands to establish a presence in the project, attracted by its prime location and distinctive architectural design. Golden Pillars CEO Ayman Mohamed said New Shorouk was selected due to its large academic and educational community. He added that the company has an ambitious plan to develop a series of specialised projects across various real estate sectors, with a total investment portfolio reaching EGP 15bn. Mohamed highlighted the strong demand in Egypt's hospitality sector, noting a current shortfall of some 250,000 hotel rooms needed to accommodate projected tourism growth over the next four years. He pointed out that Shorouk City lacks hospitality-focused developments, making Swar the first specialised hotel project in the area. He added that the company is preparing to launch several new specialised developments, particularly in the medical and hospitality sectors, and plans to unveil two hotel-managed projects in New Cairo and Mohandessin in the near future.
