Eng. Mahmoud Kamal Al-Farragji, Chairman of the Board of Directors of the International Company for Construction and Real Estate Development, a leading company in the real estate development sector, announced the injection of new investments worth more than EGP 800 million into the New Fustat project. The aim is to establish an integrated commercial, administrative, and residential complex that will add a new dimension to community services within the project and enhance the city’s value as a modern, integrated urban community.
He explained that the project will be built on one of the company-owned plots in the city and will include a diverse package of integrated recreational and commercial services, such as:
Modern multi-hall cinemas,
An international and local food court,
Electronic gaming centers and children’s amusement parks,
A comprehensive hypermarket for groceries and household items,
Shops for global brands in clothing, accessories, and cosmetics,
Showrooms and permanent exhibitions for Egyptian products,
Banking services, business offices, and citizen service centers.
He added that the project aims to meet the daily and recreational needs of city residents while also representing an effective step in supporting the Egyptian economy by creating direct and indirect job opportunities, opening new horizons for exporting Egyptian real estate, and attracting foreign investors.
He stressed that the general philosophy of all employees at the International Company stems from the belief that construction is not just about stone, but rather an extension of life itself. The walls we live within must reflect our emotions and ambitions, embrace our memories and dreams. That is why we design our projects with a human spirit that fulfills the aspirations of society and provides spaces filled with positivity and beauty.
The New Fustat City project is considered one of the company’s most important developments, with its design inspired by modern Islamic architecture harmonized with its historic location. The city lies near the National Museum of Egyptian Civilization and Ain El-Sira Lake, in the heart of Egypt’s first Islamic capital – Al-Fustat.
The project extends over 800 acres, with 40% allocated to green spaces and services, creating an ideal urban and human balance. It includes three main phases: neighborhoods one, two, and eight. Each phase contains upscale residential towers with varied designs and unit counts, ranging from 24 to 48 apartments per tower, combining luxury and practicality.
On another note, Eng. Mahmoud Kamal Al-Farragji expressed his deep appreciation to Dr. Mahmoud Esmat, Minister of Electricity and Renewable Energy, Dr. Mohamed Omran, Head of the Egyptian Electric Utility and Consumer Protection Regulatory Agency, as well as all ministry employees, especially Eng. Gaber El-Desouky, Chairman of the Egyptian Electricity Holding Company, and the employees of South Cairo Company and Sayeda Zeinab Networks, for their great cooperation, understanding, and flexibility. This has contributed to signing a cooperation protocol with the Ministry of Electricity and Renewable Energy to support New Fustat City’s electricity network by adding five transformer rooms at a cost of EGP 30 million. This step aims to enhance the operational efficiency of the power station, ensure stable electricity supply for the New Fustat City project, and improve the quality of energy services provided to residents.
Al-Farragji emphasized his happiness and appreciation for this constructive cooperation with the Ministry of Electricity, which reflects an honorable model of integration between the government and the private sector to serve citizens. We are not satisfied with building properties alone; we believe in our societal role in developing the surrounding environment of our projects, improving quality of life, and keeping pace with the state’s aspirations to provide integrated urban services.
He explained that this protocol is part of the company’s strategy to play an active role in social responsibility projects, especially in the neighborhoods and areas where its projects are being developed. He pointed out that New Fustat City represents a model of an integrated urban community supported by strong infrastructure and sustainable partnerships.
The establishment of the new mall is a continuation of the company’s vision of building integrated and sustainable communities. It is expected that this project will increase the market value of real estate within the city and enhance the position of “New Fustat” as one of Egypt’s most important integrated real estate projects and a new attraction point for visitors and investors.
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Company Profile:
The International Company for Construction and Real Estate Development has over 35 years of experience and achievements. During this time, it has successfully delivered more than 3,000 fully finished units, including 700 units in the Palm Projects in Alexandria. In addition, 800 units have been delivered in Matrouh projects, with 300 more units under delivery soon.
In New Fustat projects in front of the National Museum of Egyptian Civilization, the company has delivered 1,000 units, with another 100 currently being finalized. The company also delivered 200 units in New Cairo’s Al-Narges buildings, and 300 units in the Beit Al-Watan neighborhoods project, totaling 500 units.
