Real estate player Tabarak Holding’s TBK Developments launched three new real estate projects and acquired a massive 800-feddan land plot west of Cairo, Tabarak Holding Chairman Ali Al Shorbany announced at a press conference attended by EnterpriseAM. The price tag on these expansions through their completion in 2030 exceeds EGP 180 bn, Al Shorbany said.

The in-the-works projects include the following:

  • TBK plans to develop a still-unamed EGP 136 bn mixed-use project near Sphinx International Airport following its acquisition of 800 feddans of land for the development. The project is scheduled to launch officially in September, Al Shorbany said, adding that the upcoming development is set to feature administrative and commercial zones, multi-use residential areas, and a wide range of leisure and service facilities.
  • The company’s EGP 20 bn Key of Greens project, which will also be located near the Sphinx International Airport and feature 192 villas and 300 residential units, alongside retail units and a hotel.
  • The developer’s Keystone mixed-use project in New Cairo, which will cost up to EGP 20 bn and house office spaces, residential units, commercial areas, medical facilities, and a 220-key hotel. TBK is in talks with Spanish brand NH Collection to manage the hotel, Al Shorbany told EnterpriseAM.
  • TBK’s Heliopolis project, which will cost EGP 12 bn and house 1.2k serviced and residential apartments, along with commercial and administrative space in a built-up area of more than 240k sqm.

TBK has begun downsizing unit areas to better match current purchasing power, Al Shorbany told EnterpriseAM. Townhouse sizes have been reduced to 168 sqm from 240 sqm, twin houses to 230 sqm from 300 sqm, and standalone villas have been nearly halved to 380 sqm from 650 sqm.

TBK is also focusing on hospitality, particularly serviced apartments that generate income for owners, Al Shorbany told us. He added that the company is also tapping into new trends such as short-term rentals and hybrid office models. He said that one of TBK’s administrative buildings in Maadi has already been converted into a flexible workspace.

Tabarak Holding’s IPO plans have been pushed back, but not necessarily shelved, Al Shorbany told EnterpriseAM. Having announced in September 2024 its plans to float 30% of its shares on the EGX in the second half of 2025, the real estate company is now waiting until September to decide on if and when it will hit the EGX.

IN OTHER REAL ESTATE NEWS-

Madinet Masr unveils Shark Tank Business Park: Real estate developer Madinet Masr is launching the world’s first business-themed park — inspired by the global TV franchise Shark Tank — Shark Tank Business Park in Taj City, according to a company statement (pdf). The first phase is set to be complete and ready for delivery by 2029, with an investment of over USD 1 bn.

The details: The 20-acre project is being set up in collaboration with Innovative Media Productions and Sony Pictures Entertainment. It will feature 16 buildings and integrate office spaces and cultural venues. It will also host a co-working space.

What they said: “Shark Tank Business Park is the first of its kind globally. Inspired by the worldwide success of Shark Tank, the project reflects our vision to create spaces that go beyond functionality. This is more than just office space; we are building a fully integrated ecosystem, featuring thoughtfully designed landscapes and architecture. Every detail has been curated to foster creativity, productivity, and overall well-being within a vibrant business community,” President and CEO Abdallah Sallam said.

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