Egypt Edition 
UAE Edition 
Saudi Edition 
MENA <> India Corridor 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
Property developer Landmark for Real Estate Development (LMD) is looking to invest EGP 15 bn in Egypt this year, as part of a wider EGP 300 bn investment plan, CEO Amr Sultan said in a presser attended by EnterpriseAM last week.
Where is the money going: Some of the funds will go towards the newly-launched Being New Zayed project, which will see investments of up to EGP 20 bn, Sultan added. The company expects the project to generate some EGP 25 bn in sales.
The developer wants a bigger slice of the North Coast: The successful launch of the Zoya project in the North Coast has prompted the company to explore new luxury developments in Ras El Hekma, in a move Sultan said would further position Egypt as a high-end tourist destination.
LMD is lining up fresh funds: LMD will secure EGP 5 bn in bank financing in June, which will finance ongoing projects and expansion plans, including the construction of a mixed-use project in the First Settlement, Sultan said. The project will see investments of up to EGP 80 bn. LMD is also looking to secure EGP 1 bn from the National Bank of Egypt to speed up the construction of a hotel in its new East Cairo development, Sultan said. He expects the company to secure the funds within weeks under the subsidized loan program for hospitality players.
What hotel? The five-star W Cairo Hotel, which will be operated under Marriott's luxury W brand, will have 330 hotel rooms and 500 serviced apartments. The project will have an investment ticket of USD 220 mn and trial operations will begin in 4Q 2027, Sultan said.
Big plans for the hospitality sector: The company has so far poured over USD 50 mn in Egypt’s hospitality sector — it is currently building 1.3k hotel rooms and 1.8k fully serviced apartments in East and West Cairo, the North Coast, and Red Sea's El Gouna. It is also building the More Residences services apartments project in New Cairo, combining luxury residential living with hotel services, entertainment, and sporting facilities. It also has plans to open up a boutique hotel called Coconut Athena in the North Coast.
More on LMD’s USD 4 bn project: The developer’s recently-announced USD 4 bn mixed-use project will be set up in West Cairo. Construction should start before the end of 2025.
Landmark sees real estate prices rising no more than 13% this year in line with inflation levels, the CEO said, adding that the company will be closely monitoring the EGP-USD exchange rate and interest rates as it works on refining its financial strategy.
The company is looking to step foot in the Saudi market: The real estate player is closely monitoring the Saudi market, as it awaits the right project to mark its entrance to the market. The company already has presence in Egypt, the UAE, Greece, Spain, and more recently Cyprus.
