Regional real estate player Methaq Arab Group to establish its first EGP 60 bn Egypt project

Real estate developer Methaq Arab Group (MAG) will launch its first project in Egypt, an EGP 60 bn East Cairo development, according to a press release.

The mixed-use project will include residential, hospitality, and commercial components, Regional CEO Nour El Sorougy said.

What they said: “We bring more than 10 years of experience in Abu Dhabi, where we have developed over 25 successful projects. Today, we are entering Egypt to replicate those successes in a market defined by strong demand and continuous growth,” El Sorougy said.

Unfamiliar with MAG? The developer was “established with Emirati expertise and Saudi–Egyptian capital” and plans to use its Egypt project to “build a joint Arab entity capable of competing both regionally and globally.”