Five Palm Development and Sam Wave Development have announced a new strategic partnership to develop a number of major real estate projects over the coming period, with total investments estimated at around EGP 35bn.
The partnership forms part of the two companies’ expansion plans and efforts to strengthen their presence in Egypt’s real estate market.
Further, the partnership comes as Egypt’s real estate market sees a growing trend toward strategic alliances between companies with complementary expertise.
The shift comes amid rising expectations among customers and investors, who are increasingly focusing on developers’ financial strength, track records, execution capabilities, product quality, and the long-term sustainability of their projects.
Strong real estate partnerships have become one of the key tools for building market confidence, as they allow technical, construction, development, and investment expertise to be brought together within a single project.
This can help deliver a stronger, more secure, and more sustainable real estate product, while giving customers greater confidence in execution, operations, and the ability to preserve the investment value of their assets.
At the current stage, real estate buyers are no longer looking only at unit, price, or payment plan. They are increasingly focused on the strength of developer, execution capacity, management quality, project sustainability, and ability to preserve the investment’s future value.
This makes partnerships between experienced entities one of the key factors behind the success of major real estate projects.
Additionally, the partnership brings together Five Palm Development’s expertise in real estate development and its investment vision with the extensive experience of Sam Wave Development, which is built on a strong foundation of construction and contracting expertise.
The company traces its roots to SAMCO Egypt, which was established in 1993 and has a track record of major projects carried out in cooperation with a number of state-affiliated authorities and entities.
Sam Wave Development is chaired by Eng. Mostafa Abdel Aziz, while Islam Shehata serves as Chairman of the Board of Five Palm Development.
The partnership aims to deliver projects that combine execution expertise with a modern development and investment vision.
At its current stage, the partnership includes the development of two major projects in two of Egypt’s key real estate and tourism investment destinations.
The first is a residential project in New Capital, being developed in partnership with an authority affiliated with the Ministry of Defense.
The project aims to offer an integrated residential community based on a modern concept that aligns with the significant urban development taking place in the New Administrative Capital.
The residential project is expected to be launched in the near future, with details of the project, its components, payment plans, and architectural and development vision to be announced in phases.
Meanwhile, the second project is located in Ras El Hekma on the North Coast, one of Egypt’s most prominent emerging real estate and tourism investment destinations on the Mediterranean.
The partnership aims to develop a distinctive project that capitalizes on the area’s significant potential amid the development and investment boom currently taking place in Ras El Hekma.
The total targeted investment in the two projects is estimated at around EGP 35bn, reflecting the scale of the partnership and the two companies’ ambitions to develop projects with significant investment value and offer a differentiated real estate product in Egyptian market.
Islam Shehata, Chairman of Five Palm Development, stated that the new partnership is part of the company’s strategy to expand during the coming period by selecting partners with strong expertise and a proven track record of execution.
He said that the cooperation with Sam Wave Development represents an important step toward implementing a number of major projects based on strategic locations and a long-term vision.
Shehata added that the current real estate market increasingly requires partnerships that combine experience, execution capabilities, investment vision, and professional management. These elements have become among the key assurances customers look for before making a purchase or investment decision.
He further pointed out that the partnership is not solely aimed at increasing the scale of projects or expanding geographically, but also at delivering a safe, high-quality, and sustainable real estate product capable of creating tangible value for customers, whether for end use or investment, while focusing on quality, planning, management, and long-term value preservation.
For his part, Eng. Mostafa Abdel Aziz, Chairman Sam Wave Development, said that the partnership with Five Palm Development builds on the company’s longstanding experience in the construction sector.
He added that its construction background, dating back to the establishment of SAMCO in 1993, represents a key strength in delivering the new projects in line with the highest standards of quality and efficiency.
He explained that integrating construction and development expertise has become one of the key requirements of the modern real estate market, particularly as customers have become more informed and increasingly focused on the strength of the partners behind a project and their ability to deliver on execution, quality, and operations.
He noted that details of the projects will be announced successively during the coming period, with a focus on developing projects that combine strong locations, quality execution, sound planning in addition, investment security, and sustainability, supporting customer confidence and enhancing the projects’ long-term investment value.
The partnership reflects a growing trend in Egypt’s real estate market toward building alliances between companies with diverse and complementary expertise.
This trend is contributing to improving the quality of real estate products, raising execution standards, and strengthening customer confidence, particularly as buyers become more selective in choosing developers capable of meeting their commitments and delivering tangible, sustainable value.
Through the partnership, Five Palm Development and Sam Wave Development seek to establish a new phase of growth, starting with the residential project in the New Capital, followed by the Ras El Hekma project on the North Coast, while also exploring a number of other investment opportunities in the coming period.
