Everest Properties Announces EGP 10 Billion Expansion in New Cairo

Construction crews are set to break ground on two new office developments in New Cairo as Everest Properties moves forward with a planned investment exceeding EGP 10 billion. The firm secured the necessary regulatory approvals and licenses to begin work on the projects, known as Bureau 59 and Bureau 57.

Expanding the Commercial Footprint

The two developments will occupy a combined 38,000 square meters. Both sites are situated in the Fourth Sector of City Center, directly opposite the American University in Cairo. This location is part of New Cairo’s primary business district.

Khaled Abdel Samea, CEO of Everest Properties, described the move as a significant step in the company’s growth strategy. He stated the projects aim to offer office environments that prioritize operational efficiency and flexible design to accommodate shifting business needs.

Everest Properties brings 15 years of experience to the development and management of commercial real estate. Its construction efforts are supported by Al Shams Contracting and Engineering Works, an affiliate with nearly four decades of industry experience. The company’s existing portfolio includes Bureau 175, Bureau 58, and the Zia retail complex.

Tenant Retention and Future Growth

The firm reports a 100% tenant retention rate across its properties, a figure the company credits to its focus on long-term management services. Its current roster of clients includes multinational corporations such as Siemens, Mercedes-Benz, Uber, AstraZeneca, and Coca-Cola.

Beyond offices, Everest is diversifying its operations. The company is developing plans to enter the logistics sector to meet the increasing demand for distribution and storage facilities in the region. It also intends to explore further opportunities across other real estate sectors.

Why it matters: This investment signals continued confidence in Egypt’s commercial real estate market, particularly within New Cairo’s business hubs. As international and local firms seek modern, efficient office spaces, the expansion of supply supports the broader growth of Egypt’s corporate infrastructure and service-oriented economy.