Cazamond Development to invest 20 billion EGP in Delta projects

Cazamond Development plans to invest over 20 billion Egyptian pounds into three new projects in New Damietta and New Mansoura over the next three years. The investment aims to expand the company's footprint in the Delta region through a diverse portfolio including a hotel project, a residential compound, and a villa development.

The company is currently adjusting engineering designs to reduce density and improve product quality. One project in New Damietta will cover 11,000 square meters and feature approximately 100 villas. In New Mansoura, the company is preparing to announce a hotel project on 45,000 square meters, which will be scaled down from 1,000 to approximately 600 units to enhance quality. A second project in New Mansoura will be a residential compound on 22 acres, comprising about 800 units.

Cazamond is adopting a business model that differs from traditional real estate development by aiming to retain 40% to 50% of its units for operation and rental. This strategy is intended to build a portfolio of income-generating real estate assets rather than relying solely on unit sales.