With a firm belief in the significance of New Administrative Capital (NAC) and a strategy aligned with the state’s developmental plans, Maqam Misr Developments has unveiled its third project in the NAC, Q CLINICS, with an investment of EGP 1.2bn. This specialized medical investment project, the first of its kind in its area, marks a new milestone in the company’s ongoing success in the New Administrative Capital.
Eng. Al-Saeed Shaaban, Chairman of Maqam Misr Developments, announced that the Q CLINICS project covers a total area of 3,000 sqm. Strategically located in the NAC’s MU7 district, directly opposite the Central Business District (CBD) of the New Capital, the project boasts a prime location.
This specialized medical development offers clinics in various sizes, starting from 40 sqm, alongside commercial spaces designed to complement its healthcare focus. The company has appointed YBA – Yasser Al Beltagy Architects as the project’s consultant.
During the company’s conference, Shaaban said that effective management is a key success factor for any project and essential for preserving its investment value. Therefore, from the very first day of the project, the Emirati Eltizam Group, one of the leading global management firms, was selected to oversee the project’s operations.
He noted that excavation work has already begun, with the project set to officially launch for customers in mid-January.
He further highlighted that Maqam Misr has successfully established a leading role and a distinctive real estate presence in the New Capital within just two years of its inception. The company has acquired four plots of land in the NAC and launched three projects with varying stages of execution. Additionally, Maqam Misr plans to launch its fourth project during the first quarter of 2025.
He stressed his confidence in the New Capital as a promising national project characterized by its strategic location and the government’s determination to make it a landmark in the region. This confidence encouraged him to invest in projects in the New Capital as early as 2017, initially through partnerships with other investors, and later through independent projects under Maqam Misr.
He highlighted that Maqam Misr’s consistent success across its projects has strengthened client trust and increased their willingness to invest further with the company. By delivering exceptional quality in its developments and collaborating with leading partners across various fields, the company has built a solid reputation for reliability and credibility.
He disclosed that a cooperation agreement was signed with YBA – Yasser Al Beltagy Architects to act as the consultant for all of the company’s projects. This partnership is based on YBA’s strong portfolio of designing prominent projects both within and outside Egypt. This collaboration reflects Maqam Misr’s commitment to delivering high-quality real estate projects with innovative designs that meet client aspirations.
He added that this collaboration marks a strategic step toward enhancing the company’s vision of delivering modern real estate projects aligned with global standards, reflecting Maqam Misr’s commitment to adding value to the Egyptian real estate market.
Regarding the company’s expansion plans, Eng. Ahmed Al-Saeed Shaaban, the company’s CEO, stated that Maqam Misr aims to expand both locally and internationally. Domestically, the company plans to invest in a fourth project in the New Administrative Capital, a project in Sheikh Zayed, and another in the Delta region. Internationally, the company is set to expand into Saudi Arabia.
He revealed that a new company was established in Saudi Arabia a year ago, focusing on developing residential projects in the Kingdom.
He added that Maqam Misr has an ambitious expansion strategy built on its success in launching and implementing three prominent projects, as well as its strong expertise and financial solvency.
He added that the company’s expansion plan to launch new projects coincides with the progress in construction across its existing projects. The foundations and first basement level of the East Tower5 project have been completed. This project spans over 3,585 sqm in the Downtown area of the New Capital. It is located on a main axis with a width of 75 meters and overlooks an open garden of 28,000 sqm. The ground floor features commercial units and a restaurant area, while the first floor houses a Food Court. The project is planned for delivery by the end of 2026.
“Excavation works are also underway for the company’s second project, QEAST, which has already completed its foundational work. This project covers an area of 3,380 sqm, is located on a 75-meter-wide street along the eastern axis in Downtown, and directly overlooks a 28,000 sqm garden,” Shaaban said. “Excavation for the third project, which is currently being launched, has also been completed, while designs are being prepared for the fourth project, scheduled for launch in the first quarter of 2025. This reflects the company’s seriousness in investment and its ability to balance marketing and execution plans, alongside taking strong steps in its expansion strategy.
Eng. Yasser El Beltagy, Head of YBA, said,”We are proud to collaborate with Maqam Misr on all of its upcoming projects. Through this partnership, we aim to provide innovative designs and engineering solutions that reflect our commitment to quality and excellence. Maqam Misr has an ambitious vision for expansion and developing real estate projects that leave a clear mark on the Egyptian market. At YBA, we believe that this collaboration will result in projects that meet international standards and fulfill customer expectations”.
Al Beltagy stated that the accumulated experience of YBA, along with its previous work on prominent projects both inside and outside Egypt, supports its plans to make a real contribution that meets market needs and enhances Maqam Misr’s position as a leading company in the real estate sector.
He highlighted the importance of providing elements that strengthen the competitive advantages of the company’s projects.
