MEMPHIS REISEN

Emaar Alex, SIA Business Development sign EGP 4bn agreement for La Baia Sidi Abdel Rahman project – Dailynewsegypt

Emaar Alex Developments and SIA Business Development have signed an agreement to manage, sell, and market the La Baia Sidi Abdel Rahman project, which has a total investment of EGP 4bn. This partnership aims to enhance their position in the Egyptian real estate market.

Mohamed Elhanash, the chairperson of Emaar Alex Developments, said that the project’s investment volume is about EGP 4bn over three years. The project will be completed in three phases within that time frame.

Ahmed El-Haddad, the CEO of SIA Business Development, said that the company’s investment volume this year is around EGP 7bn, a considerable increase from the previous year.

The company has worked on several residential projects with the Ministry of Housing, as well as tourist projects along various Egyptian coastlines, such as Ras Sedr, Ain Sokhna, the North Coast, and Sharm El-Sheikh. The company also develops and manages commercial, administrative, medical, and tourism centres in different areas, including the New Administrative Capital and the Fifth Settlement.