ATHAR Developments to be launched and led by Eng. Mohamed Shehata with experience exceeds 50 years in construction and contracting

El Sayed Shehata Group (ESG) launches ATHAR Developments with extensive experience...and unveils its first real estate project

El Sayed Shehata Group (ESG) announced launching ATHAR Developments, a new arm of the group in the real estate development sector, as ATHAR Developments builds upon a legacy of more than 50 years of accumulated experience in construction, contracting, and a proven track record of participating in the implementation of several major projects and prominent architectural landmarks in the Egyptian market.

Eng. Mohamed Shehata will lead ATHAR Developments, bringing nearly 30 years of experience in contracting and construction sector and 20 years in real estate development, during which, he has gained diverse expertise in project execution and management, along with a portfolio of development projects in western Cairo, particularly independent residential buildings in 6th October City and Sheikh Zayed.

For his part, Eng. Mohamed Shehata, Chairman of ATHAR Developments, emphadized that Shehata Group, through its five companies, covers contracting and construction activities, independent real estate project development, real estate brokerage, and portfolio management, in addition to real estate development, which provides an integrated system of expertise and capabilities that supports all stages of real estate work, from studies and planning, through implementation and development, to marketing and asset management.

He pointed that the parent company, with 50 years of experience, has successfully established its presence in the contracting and construction sector by participating in the implementation of a number of major projects that represent landmarks in the Egyptian market, which include the American University in New Cairo, Dar Al Fouad Hospital, Le Méridien Hotel, MSA University, industrial complexes, and residential projects, in addition to its contributions to construction and urban development projects in 6th October and Sheikh Zayed cities.

The group has also enhanced its experience in real estate development by implementing and managing a portfolio of independent residential projects in West Cairo, which allowed it to gain in-depth knowledge of the demand in this area, client needs, and the requirements for developing real estate products that combine efficient design, high-quality execution, and residential privacy.

He revealed the company's plan to launch its first project in Sheikh Zayed City, a move that aimed at providing a distinctive residential experience in West Cairo, as this experience will be based on leveraging the group's engineering and development expertise to deliver a real estate product that achieves a balance between construction quality, efficient area utilization, and meeting the aspirations of clients seeking residential communities with sustainable value.

He noted that choosing Sheikh Zayed City for the company's first project stems from the growing importance of West Cairo as one of the most prominent urban and investment destinations in the Egyptian market, as it  is witnessing development in infrastructure and services, along with a diversification of demand for real estate products, which provides promising opportunities to deliver projects that align with actual market needs.

He emphasized that Athar's vision for urban development is based on developing urban communities and commercial projects whose value is not limited to the construction or design aspect, but extends to creating integrated experiences that leave a positive and sustainable impact on clients, and gives projects value that goes beyond the moment of sale or delivery, so that they remain able to maintain their value and quality in the long term.