In preparations for commencing activity in the Egyptian market at the start of the year 2023, Glamour Developments has contracted with Karim Mamoun to be the head of the commercial sector at the company, a senior company official said.
Tariq Suleiman, owner of the famous Glamour Jewelry Group, added that the new company includes on its board of directors a number of businessmen whose names will be announced during an extensive press conference on the sidelines of the company’s official launch ceremony during the next few weeks.
The nascent company seeks to offer a distinctive and new real estate product to the Egyptian market; hence the company owns a unique, diversified real estate portfolio. The portfolio includes a project in the North Coast and another in the Fifth Settlement in Cairo, and two other projects in the New Administrative Capital and one other in El Shorouk City, with a total value of LE15 billion.
For his part, Karim Mamoun stressed that the coming period will witness strong surprises from Glamour Developments; hence the company’s intention to present real estate projects that constitute a distinctive imprint in the market in co-operation with senior consulting offices.
Mamoun pointed out that launching such an entity is a confirmation of the strength of the Egyptian economy, especially at the real estate sector, which is the largest in the Middle East.
It is of worth mentioning that Karim Mamoun has great experience in the field of real estate development and his prominent role has helped emerge many real estate companies. He previously served as head of the commercial sector in a number of major development companies operating in the New Capital and other prominent cities, achieving during the last four years real estate sales estimated at LE6 billion.
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