Scope Engineering, part of Saudi Arabia’s Al Suwailem Group, plans to invest EGP 130 billion in the development of the Mokattam Corniche project, spanning 2 million square meters, in partnership with El Nasr Housing & Development.
Speaking during the company’s conference, Scope Saudi Arabia Chairman Mamdouh Al-Sharhan stated that the project is expected to generate around EGP 200 billion in sales, with approximately 50% of sales projected to come from international buyers.
Al-Sharhan added that Scope operates across Egypt, Saudi Arabia, Oman, and Bosnia, and intends to leverage its regional presence to market the development internationally, supported by its sales rights within the project.
The company also unveiled its first project within the development, A40, located in the heart of Mokattam Corniche. The 14,000-square-meter commercial destination will feature retail units, office spaces, and medical clinics, along with a ground floor, four upper levels, and a parking facility covering the entire project footprint.
CEO Eng. Alaa Khadr said the company is adopting a forward-looking approach based on the latest global trends in commercial destination management, aiming to elevate the shopping experience while creating an integrated environment for entrepreneurs and businesses. To achieve this vision, Scope has partnered with leading international consultancy firms.
Khadr noted that the Mokattam Corniche development represents a successful model of collaboration between the public sector and international developers, expected to deliver significant economic value and contribute to Egypt’s ongoing development agenda. He also highlighted the major infrastructure upgrades and road network expansions that have transformed the Mokattam area in recent years.
