Egypt’s Maqam for Urban Development has announced the launch of the new project, Optima Business Complex, in the New Administrative Capital (NAC), InvestGate reported on Monday, citing the company’s chairman, Sherif Salem.
The mixed-use project is expected to generate EGP 500 million in sales.
In previous press remarks, Salem explained that Maqam for Urban Development was established back in 2021.
NAC
Egypt is currently seeing "massive urban development" thanks to the establishment of a slew of new cities around the country, on top of which is the NAC, considered among the few smart cities in the world, built to international standards.
According to the InvestGate report, Salem reiterated that the NAC location of the new project was carefully chosen by the company to ensure its success by achieving its sales targets and revenue goals.
The Optima Business Complex will be situated in the NAC's downtown zone, adjacent to the government district. Against this background, Selim explained that administrative offices in the particular area are in high demand, garnering growing investor interest and contributing to the setting up of multiple large development projects. He added that the project comes as part of the company’s continuous drive to expand in the NAC.
Selim said that the project is entirely funded from internally generated funds, supported by a solid shareholder structure comprising a group of professionals who bring over 15 years of experience in finance, construction, and management.
PROJECT DETAILS
Osama Elgendi, the company's head of sales, explained that the Optima project is strategically located in the Downtown MU-46 plot area.
He further added that it will comprise 13 floors spread over 2,400 square meters, accommodating 32 commercial units and 157 administrative office spaces. Maqam said that it already had begun implementing the project earlier this year. It is scheduled for handover in January 2026.
Architectural design consulting firm, Dar Al Mimar Group (DMA), was contracted as the project consultant.
Amr Mostafa, executive director of DMA, said the project represents a strategic addition to DMA's portfolio owing to its distinctive location.
EXPANSION
To solidify its position as a global company, Maqam said it looks to market the Optima project on a global scale, targeting both customers inside and outside its home market.
It also added that it has a growing project pipeline and is continuously looking to expand and diversify its product offerings and its client portfolio.
Besides the underway project, there are plans already in place to set up a residential project in the New Capital, with plans to develop a new tourism development project in the city of North Coast, according to the InvestGate report.
Image: view from Almasa Hotel, New Administrative Capital, Egypt
