LMD Egypt plans to launch its New Zayed project in the Sheikh Zayed City expansions, west of Cairo, during the first quarter of 2025, according to CEO Amr Sultan. The project, spanning 150 feddans near Sphinx International Airport, will feature residential and hotel units, along with recreational, commercial, and administrative areas. The project’s investment is estimated at EGP 10bn, with anticipated sales of EGP 15bn.
Established in 2007 by Egyptian businessman Ahmed Sabour, LMD oversees a diverse portfolio of 23 projects across Egypt, the UAE, Greece, and Spain. Its portfolio includes more than 24,300 residential units, 1,330 hotel rooms, 5.5 million square meters of residential built-up area, and 2.7 million square meters of commercial built-up area. Notable projects in Egypt include Stei8ht in New Cairo, which is progressing steadily, and One Ninety, currently under construction. The concrete works for the first and second phases of the Zoya project on the North Coast are expected to wrap up by the end of 2024, while the 3’Sixty project in New Cairo is also advancing.
In the UAE, LMD has completed several significant developments, including Continental Tower and Marina Living in Dubai Marina, Rukan in Dubai Land, and projects in Al Jaddaf and Riverfront such as Boutique 23, Boutique 12, and La Boutique. The company is also developing The Pier Residence in Dubai Maritime City. Meanwhile, all projects in Spain have been completed, and in Greece, LMD continues its expansion following the delivery of multiple developments.
Hospitality remains a critical focus for LMD. Sultan highlighted that the company owns 1,330 hotel rooms and 1,800 fully-equipped hotel apartments, developed in partnership with global brands like W in the W Residences project, as well as Autograph Collection and Tribute Portfolio, which are involved in Zoya Hotel on the North Coast. Another hospitality venture, More Serviced Residences in New Cairo, includes hotel apartments surrounded by green spaces, water features, and dining options.
The company is actively negotiating with Egyptian banks to secure a significant financing package aimed at accelerating project construction. While the exact financing amount remains undisclosed, announcements are expected early next year. Last month, LMD secured EGP 2.8bn from a banking consortium led by Banque Misr to support the Stei8ht integrated residential project in New Cairo, which carries a total investment cost of around EGP 15bn.
Sultan expressed LMD’s ambition to establish itself as a global real estate brand. He stated that the company’s vision is centered on sustainable design, smart technology, and promoting arts and culture. As LMD continues its expansion into international markets, it remains committed to strengthening its local presence to stay at the forefront of real estate development.
