About Torec Developments
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Torec Development, formerly known as Al Taameer Real Estate Development – First, is one of the leading real estate development companies in Egypt.
Established in 2014, Torrek Real Estate Development has significant growth plans since then.
Turrek has extensive experience developing successful residential and commercial projects, particularly in the Sheikh Zayed area of West Cairo.
Turrek also boasts diverse ownership, most notably the New Urban Communities Authority (NUCA), which holds a 67% stake.
Torrek also holds a 32% stake.
In addition, Bank Misr Iran, Misr Insurance, Life Insurance, and the Investment Holding Company also participate.
This strong mix of shareholders enhances the company's ability to achieve success and stability in the Egyptian real estate market.
About Torec Development
Turrek seeks to provide distinctive residential and commercial experiences that meet customer needs.
It also plans to expand its operations and implement new projects in various new cities across Egypt, including the New Administrative Capital.
It reflects Torek Real Estate Development's ambitious vision to become a market leader and contribute to the real estate boom in Egypt.
Bliss Gate Zayed is also one of the company's projects.
Torec Development's partners:
Misr Insurance.
Misr Life Insurance.
Also, Al Taameer Mortgage Finance Company,
New Urban Communities Authority.
Also, the Holding Company for Finance and Investment,
and MIDBANK.
Torec Development's partners' shares:
The New Urban Communities Authority's stake in Torek Real Estate Development is increasing from 2% to 66.4%, according to statements by the company's CEO.
Also, Al Oula Real Estate Finance previously owned 94% of the company.
While the New Urban Communities Authority owned 2%.
The Holding Company for Investment and Finance, Misr-Iran Bank, Misr Insurance, and Misr Life Insurance also owned the remaining shares, after the Zayed projects. The New Urban Communities Authority's stake increased to approximately 66.4%, while First Real Estate Finance's stake decreased to approximately 32.4%.
This change in shareholder distribution reflects a strategic shift in the company's ownership.
The New Urban Communities Authority now holds the largest share in the company.
Who is Engineer Mohamed Anwar?
Engineer Mohamed Anwar Helal is the CEO of Torek Developments.
Torec Developments' projects include:
T Pearl New Zayed project.
In addition to The Address East compound in New Cairo.
As well as the Saba October project, in cooperation with the Housing and Development Bank.
It also owns the Bliss Gate Zayed compound.