Anchor Developments intends to start up in 2022-2023 with an investment of EGP 10 billion
Anchor Developments, a new real estate development arm of Alsarh Holding Group, was established with a robust investment plan and initial investments of EGP 10 billion.
Amr Ali says that Anchor will sign a contract with a strong entity within days to build a project in the New Administrative Capital.
The real estate development arm of Alsarh Holding Group, Anchor Developments, entered the real estate market with an ambitious investment plan of EGP 10 billion. Alsarh Holding has more than 30 years of experience in the fields of contracting and construction.
Amr Ali, the chairman of Anchor Developments, stated that Egypt is currently developing its urban infrastructure, and the opening of new fourth-generation cities has made promising investment opportunities in the real estate sector available. This has allowed a new, powerful generation of real estate development companies to take part in this development.
Ali added, “Alsarh Holding Group has strong experience in the contracting and construction fields, giving the new company a lot of expertise and a business precedent to draw from in developing its new projects, in addition to ensuring it has strong financial solvency to develop its projects based mainly on self-financing”.
He highlighted the importance of establishing a solid financial plan for construction projects, especially in today’s market where speedy development is required.
After receiving ministerial approval for the project that the company purchased a year ago in collaboration with a significant investment entity, the company will shortly announce its first projects, which will be constructed in the New Administrative Capital, Ali disclosed.
He further pointed out that this cooperation achieves integration between the advantages owned by both entities, and heralds the development of a strong and distinctive project in a quick time, explaining that the New Capital is a huge project, and the company is proud to launch its first real estate investment in the market in this promising national project.
The New Administrative Capital, as a smart and sustainable city, has become an investment destination in local market, in which a strong foreign investment volume is existed and that reflects confidence in this distinguished project. Furthermore, the government is constantly seeking to provide more incentives and opportunities that raise the volume of demand for the city, whether for Egyptian or foreign investors, he concluded.
