Saturday 22 Feb
Morshedy Group acquired the Fouda Tower and an adjacent 4,000 square meter plot of land in Zamalek for 2.5 billion pounds, according to Nour Al Morshedy, the group's CEO. The land, intended for a garage, is currently unused and adjoins the tower.
Al Morshedy stated that the Zamalek Tower development project will significantly contribute to the area's revitalization. The group plans to redevelop the 50+ story tower into a luxury hotel and residential complex.
Morshedy Group's portfolio includes several other projects, such as Skyline, a 200,000 square meter development in Katameya, and One Katameya, a mixed-use complex comprised of 8 administrative and commercial buildings and 30 residential buildings, offering 3,966 residential units. The group also owns the Zahra project in New Alamein City, located at kilometer 124 on the North Coast.
