Morshedy Group Acquires Zamalek Tower for $15 Million

Morshedy Group, a key player in Egypt's real estate sector, has acquired the iconic Zamalek Tower in a $15 million deal from a major state-owned bank. This acquisition, aligned with the Group's expansion strategy, includes a plan to convert the 50-story tower into a luxury mixed-use development, combining high-end residential and hotel spaces. Additionally, a 4,000 sqm plot adjacent to the tower will become a modern parking facility to support accessibility for future residents and visitors. Founded by Mohamed Morshedy, the company is known for its innovative architectural designs and a significant presence in Egypt's property market. With ongoing projects like Skyline and One Katameya, the Group continues to broaden its influence, highlighting its commitment to enhancing the country's real estate landscape.