Arab Finance: PRE Group announced that one of its subsidiaries has won a bid to develop an integrated urban project in a prime location in New Zayed City, west of Cairo, according to a press release.

Spanning 380 feddans, the development will comprise a diversified portfolio of residential, administrative, commercial, and hotel apartment units, targeting a wide range of homebuyers, businesses, and investors.

The project is expected to generate sales of EGP 147 billion, with a total investment cost of EGP 94 billion. Its development program will be implemented in several phases, with the first phase scheduled for delivery within four years of the launch date.

The announcement builds on the developer's recent achievements in the area. PRE Group completed the delivery of its Hadaba project in early 2026 and is preparing to hand over the first phase of its Ivoire West development by the end of 2026, a year ahead of schedule.

Waleed Zaki, Founder and CEO of PRE Group, said the project aligns with the company's growth strategy to foster its presence in West Cairo, supported by a land portfolio exceeding 12 million square meters in strategically selected locations.

PRE Group registered 337.73% year-on-year (YoY) higher consolidated net profits after tax and attributable to the parent company at EGP 323.668 million during the first quarter (Q1) of 2026.