Dubai – Masaader News
Dr. Mohamed Farouk, Chairman of WestWay Developments, said that the company is planning to pump investments worth 15 billion pounds into the Egyptian market during 2025, by entering into a number of major projects in West Cairo.
He added that WestWay was launched from the merger of a group of major companies operating in the real estate sector, noting that the experience of the company’s shareholders extends for more than 30 years in the sector, and its structure includes DIG, which owns a portfolio of major projects in East and West Cairo, Memaar Al Farouk owned by Dr. Mohamed Farouk which operating in West Cairo, and Diyar Hany Farrag owned by Engineer Hany Farrag.
Mr. Hussein Salah, the company’s Vice Chairman, pointed out that mergers give companies strength and impetus to enter into a number of projects at the same time in addition to maximizing the land and project portfolio of the new entity, adding that the merger of the financial forces of the companies gives them strong capacity and solvency that increases their credibility with customers and partners as well.
Hussein Salah said that WestWay has succeeded in only two years since the company was launched in working on six different projects in West Cairo in terms of activity, units and project location. The company started with its first medical project, 360Health, in Old Zayed, which is an integrated medical project that has gained great popularity due to the relative advantages that the area has, the most important of which is the high popularity and population density that any commercial or medical project needs. Then it moved to New Zayed City with the River Park 1 and River Park 2 projects, on a total area of 15 acres, each of which is a residential compound that includes a group of diverse villas, followed by the Z4 project in Janna Zayed on an area of 2,400 meters, which is an integrated mall.
Eng. Hany Farrag, the board member, added that the company is also developing River Residence project, which is a residential project in October Gardens area on the Italian neighborhood axis in a unique location near the Green River and the express train, including 21 residential buildings, green areas, a social club, and an area designated for children, noting that the company is also developing Town Plaza project in New October.
Farrag said that the company intends to develop a new project in the heart of 6th of October City, on an area of 15,000 meters, with a ground floor and three floors, and the project is scheduled to include multiple activities in addition to hotel apartments.
Mr. Mohamed Fawzy, the board member of the group, hinted that the company is preparing to develop a project on an area of 30,000 meters located directly on Dahshur link, noting that the company plans to implement an integrated project in the new Sphinx City on an area of no less than 300 acres.
Fawzy stressed that the company pays great attention to implementing existing projects according to agreed upon timetables, out of concern for the interest of customers and to confirm the company’s credibility, in parallel with the company’s expansionary activity in a number of major projects.
Mr. Mohamed Abbas, Chief Sales officer said that West Cairo has a promising future in the coming period, especially since the state’s trend towards urbanization has contributed to encouraging local and foreign investors to enter into major real estate projects, especially since the West Cairo area is currently receiving great attention from the state, in terms of developing the infrastructure and road network and establishing new urban communities.
He added that transforming West Cairo into a tourist destination, especially with the opening of the Grand Egyptian Museum and the development of the Pyramids area, would give the region strong competitive advantages that would contribute to attracting more investments, stressing that the region has indeed recently witnessed the entry of a large number of major real estate developers into new projects in West Cairo.