“Mostakbal Development” and “Rekaz Development” sign a memorandum of understanding to develop 30 acres in the “BOULEVARD” area.

September 12, 2022

Mostakbal Urban Development Company signed a memorandum of understanding with Rekaz Development Company regarding cooperation on the of a plot of land with an area of ​​about 30 acres in the first phase of Mostakbal City on (The Eastern Side of the BOULEVARD Area) for the purpose of establishing a mixed-use project (Commercial / Administrative / Hotel Accommodation).Engineer Essam Nassef, Chairman and Managing Director of Mostakbal Urban Development Company, confirmed that this contract comes within the framework of the company’s desire to develop service spaces for the first phase of the project during this period in line with the plans set for the city.On the other hand, Eng. Tamer Bakir, Chairman of the Board of Directors of Rekaz Real Estate Development Company, said that “Mostakbal City” is one of the distinguished cities that await a great future due to its unique location, which makes it the jewel of new cities along with the great capabilities that made it the ideal choice for Rekaz Development , especially in light of the presence of a distinguished group of real estate development companies, which will make of Mostakbal City the focus of the attention of all international brands. All these factors help the success of our project greatly.

Engineer Bakir added that Rekaz Development Company is one of the most promising companies in investing in the provision of service activities and has distinct experiences in this field, including a projectOPAL BUSINESS COMPLEX, Commercial, Medical, Administrative in the New Administrative Capital, and the integrated tourism-hotel project “Lazuli” in Hurghada, in addition to a hotel project that the company is preparing to launch in New Cairo, This gave his company distinguished experiences in this field, pointing out that the company’s next project in Mostakbal City will have a special flavor and different designs in line with the distinguished urban renaissance in the BOULEVARD area, which is based on innovation and high quality.He stressed the importance of the role played by Coldwell Banker Commercial Advantage in achieving cooperation between the two companies, Future Urban Development and Rekaz Development, as the exclusive advisor to promote investment opportunities in the BOULEVARD project.