SAM Developments, the real estate arm of the long-established SAMCO Group, announced a comprehensive expansion plan in the Egyptian real estate market, revealing its target of contractual sales worth 4 billion Egyptian pounds for its flagship project “SAM Wave” in the New Administrative Capital, with the implementation of other projects whose investments exceed 8.5 billion Egyptian pounds in several areas.

Dr. Eng. Abdul Rahman Abdul Jaid, Chairman of the Board of Directors of "SAM Developments", said that the company represents the result of more than 33 years of accumulated experience of the "SAMCO" group, which was founded in 1993.

He stressed that the shift towards real estate development came to reflect a philosophy that is in line with the major urban boom in Egypt, based on a proven track record that includes the implementation of more than one million square meters of fully finished buildings, and 20 million meters of infrastructure work for major entities.

Dr. Abdel Rahman pointed out that the company’s board of directors includes distinguished engineering figures, including Engineer Sayed Farouk and Engineer Mustafa Nada, which ensures adherence to the highest construction standards and timelines.

He also expressed his pride in the group’s contribution to nation-building through the implementation of 150 schools, 50 post office branches, 17 health facilities, in addition to strategic infrastructure projects in the new capital.

For his part, Professor Ahmed Sabry, Head of the Commercial Sector at "SAM Developments", revealed details of the current investment portfolio, which focuses strategically on West Cairo and New Cairo, and
The most prominent of them:

The "FUSION" project on the 26th of July axis:
Integrated complex (commercial, administrative, medical)
With investments amounting to 750 million pounds.

He pointed out that the company launched the "SAM Wave" project in the new capital (MU23), which extends over an area of 7,400 square meters, stressing that the buildings occupy only 30% of the area to ensure sustainability.

It consists of a ground floor and 9 upper floors, housing commercial, administrative, and medical activities.

Sabri announced that the company intends to inject investments worth one billion pounds during the current year to accelerate the pace of construction, benefiting from its ownership of all equipment and technical personnel, which enables it to complete projects before the specified dates.

He emphasized that the company adopts the concept of "green architecture" in its projects by relying on solar energy and smart systems, in cooperation with leading success partners such as the engineering consultancy firm "Arcrete" and engineer Mohammed Tamam. The company also provides innovative solutions such as providing advanced nurseries within its commercial centers to support the work environment.

The head of the commercial sector added that SAM’s sales power derives its confidence from the group’s history of developing more than 100 residential towers in Cairo’s most prestigious neighborhoods, and has a customer base that includes major financial institutions such as the National Bank of Egypt and Banque Misr.

He pointed out that the company is preparing to launch a major project in the Fifth Settlement area soon, within a portfolio that currently includes 4 strategic land plots, stressing that the Egyptian real estate market remains a "safe haven" for investment, and is capable of growth, recovery and providing unprecedented opportunities in light of the current urban renaissance.

-I finish-

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