Chairman and Chief Editor
Bedour Ibrahim

Retal Developments is working according to an expansion strategy

Retal Developments fully acquires Center Point Development with its Harmony Business Complex

Sunday 10/March/2024 - 05:57 PM
أصول مصر

Retal Developments has fully acquired Center Point Development and its Harmony Business Complex in New Administrative Capital (NAC).

Chairman of Retal Developments Saeed Hassan said، “The company has acquired Center Point Development within its expansion plan to increase and diversify its business. Center Point is one of the companies operating in the Egyptian real estate market، which enhances the expansion of Retal Developments in Egypt’s real estate market.

Various residential and tourism projects

Hassan explained that the company owns a large land bank in Egypt’s real estate market with an investment value exceeding EGP 3bn، with various residential and tourism projects، including already existing projects such as Retal View Resort in Ain Sokhna and Retal View Resort in North Coast. Furthermore، the company targets offering different projects during the second half of this year.

He noted that Retal Developments is working according to an expansion strategy through which it aims to diversify its projects portfolio and be present in different regions within the Arab Republic of Egypt to meet all of its clients’ investment requirements. Moreover، Retal is in the process of penetrating other markets namely Saudi Arabia and the Gulf region.

He stated، “Harmony Business Complex is currently being offered for sale، which was acquired with plans and methods consistent with the requirements of real estate market and the strategic plan of Retal. Additionally، in the coming weeks، the company will announce in an expanded press conference its plans and vision for the Harmony mall.”

The Harmony Business Complex is considered one of the most important commercial administrative projects in the NAC’s Downtown on 2،704 sqm at plot No. mu2-59. The 11-storey mall overlooks 3 different corners that make each unit enjoy open view. The company intends to begin delivering the complex in September 2026.