Everest Properties Commits EGP 10bn to Two New Cairo Office Buildings
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Egyptian commercial developer Everest Properties will build two new office developments, Bureau 59 and Bureau 57, in the Fourth Sector of City Center, New Cairo, with combined investments exceeding EGP 10 billion across 38,000 square metres.
Everest Properties, a specialist in commercial real estate development and management, will launch two new office developments in the Fourth Sector of City Center, New Cairo, with total investments exceeding EGP 10 billion. The company said it will begin the construction phase of Bureau 59 and Bureau 57, which together cover 38,000 square metres.
The projects form part of Everest's expansion strategy in Egypt's premium office segment, aimed at attracting major corporations and international brands. Chief executive Khaled Abdel Samea said the two buildings mark a new step in the company's growth and build on its experience in developing and managing commercial assets, with a focus on design quality, operational efficiency and flexibility.
Abdel Samea said the developer will continue to expand its presence in New Cairo while exploring growth opportunities in other real estate sectors to diversify its portfolio. Beyond offices, Everest intends to establish a project targeting demand for storage, logistics and distribution space.
Everest's existing portfolio includes Bureau 175, its first development and headquarters, completed in 2015 on South 90th Street with 15,000 square metres of office space. The building hosts international and local tenants including Siemens, Mercedes-Benz, Uber, Esri and Adwia. The company's other assets include Bureau 58 and Zia.
The investment adds to a growing pipeline of commercial office supply in east Cairo, where developers are betting on demand from multinationals and services firms for flexible, well-managed workspace. Everest's model spans development, leasing, facilities management and tenant services.