Hassan Allam Properties targets $297.4M in 2026 projects

Hassan Allam Properties says it plans to roll out new developments worth 14 billion Egyptian pounds ($297.4 million) in 2026, leaning further into hotels, sports and education as it looks beyond its core residential business.

Vice chairperson and CEO Mohamed Allam said the developer is preparing a dedicated hospitality brand that will oversee the company’s expanding hotel pipeline and could also take on third party developments. The firm wants the brand to handle day to day operations, service standards and marketing for its own properties, while positioning it as a manager for other owners seeking an operator with local reach, he said.

Allam said the company is diversifying through partnerships with local and international entities, without naming potential partners or offering a launch date for the new brand. He described the shift as a way to balance revenue streams as Egypt’s property market absorbs higher costs and shifting financing conditions.

Hassan Allam Properties has four hotels under development in New Cairo, 6th of October City and the North Coast, with a combined capacity of about 700 rooms, Allam said. The company expects those properties to open in 2028 and 2029.

The developer’s wider portfolio includes more than 25 projects, he added. Near term, the company is focused on finishing eight ongoing developments in Mostakbal City, the North Coast and El Gouna, before it commits to any new work in the New Administrative Capital. Allam said Mostakbal City remains a primary focus for investment and served as a base for the company’s broader push into new sectors.

Allam framed the broader real estate outlook as steady rather than sliding. Egypt’s housing market, he said, continues to draw support from population growth, and recent conditions resemble a return to normal growth rates instead of a downturn.

He said prices in some Hassan Allam Properties projects could rise 5% to 10% this year, depending on location and construction timelines. Developers across Egypt have sought to reprice units as input costs moved higher, while many buyers have viewed property as a hedge against inflation.

Financing remains part of the company’s playbook, Allam said. Seeking external funding is a standard step at certain stages of a project, he said, adding that the firm maintains relationships with financial institutions to keep construction on schedule and support expansion. He declined to discuss specific borrowing targets.

The planned 2026 project pipeline, valued at EGP 14 billion ($297.4 million), sits alongside the longer dated hotel openings. Allam said the split reflects a strategy that mixes near term delivery with assets that will not generate operating revenue until later in the decade.

Egypt’s property market has grown more crowded as developers race to deliver in new communities around Cairo and along the Mediterranean coast. Hospitality has also attracted attention as companies try to capture demand linked to leisure travel and business trips, and as developers look for recurring income beyond one time unit sales in a market that has been volatile.