Golden Pillars Developments is preparing to launch its latest project, Swar, in one of Shorouk’s most strategic locations. The development features a commercial mall alongside hotel-style units, positioned on a uniquely prime site on the Suez Road—set to become the company’s next major investment destination.
The project aligns with the company’s bold investment strategy targeting EGP 15bn in real estate developments.
Eng. Magdy Saad, Chairman of Golden Pillars Developments, stated that Golden Pillars Developments has conducted extensive market studies showing a substantial gap between supply and demand for hospitality-focused projects.
He added that several key locations have been identified as part of the company’s strategy to expand its presence in the most strategic and high-potential areas.
Saad noted that the company has launched its latest commercial and hospitality project— a mixed-use building that is set to become one of the area’s distinguished and trusted destinations. It will be among the first hospitality developments to be introduced in the city. The company has decided to capitalize on its founders’ extensive experience in development and construction to deliver an iconic, fully integrated commercial and hotel landmark.
He pointed out that the company is moving forward with a specialized, fully integrated commercial and hospitality development that includes a 10,000-square-meter commercial mall and a hotel building comprising approximately 150 rooms and hotel studios.
He emphasized that a clear development plan has been set for the project, to be carried out in defined phases with final delivery scheduled for 2028, noting that flexible payment plans and systems will be offered to meet clients’ needs and expectations.
He stated that a specialized firm has been appointed to manage and operate the commercial spaces, alongside a partnership with a global hotel brand to run the hotel units. This approach is intended to safeguard the project’s investment value, uphold the highest quality standards, and ensure exceptional service delivery.
The company’s chairman explained that effective management is key to preserving both the investment value and overall quality of any development, added that negotiations are underway with several leading brands aiming to establish a presence in the project, taking advantage of its prime location and distinctive architectural design.
Ayman Mohamed, the company’s CEO, added that the project is located in one of the most prominent areas of New Shorouk City, just minutes from key hubs. He noted that New Shorouk was chosen for the project because it hosts a large educational and academic community, including the British University in Egypt (BUE), the French University in Egypt (UFE), Shorouk Academy, international schools, and training centers. This contributes to year-round demand for hotel residences, rentals, and increased activity in restaurants and cafes.
He disclosed that the company has an ambitious investment plan to develop distinctive projects across various real estate sectors in the coming period, with a total investment portfolio of up to EGP 15bn.
He highlighted the strong demand in Egypt’s hospitality sector, noting a gap of approximately 250,000 hotel rooms needed to accommodate the expected increase in tourist numbers over the next four years.
He also pointed out that Shorouk city currently lacks hospitality-focused developments, making the company’s project the first specialized hotel venture in the city.
Mohamed said that the company owns a diverse land portfolio and plans to implement distinguished real estate projects in the near future. The company is preparing to launch several specialized projects, whether in medical or hospitality sectors, and plans to develop two hotel-managed projects in New Cairo and Mohandessin, which will be announced soon.
He stated, “With the substantial gap between supply and demand in hospitality sector, any specialized hotel project that incorporates distinctive features is likely to succeed, particularly given the strong market demand. This is reflected in the recent high interest from foreign investors in Egypt’s hospitality and tourism developments.”
The company’s founding structure brings together extensive expertise exceeding 18 years in real estate development in the Egyptian market. Eng. Magdy Saad has over 18 years of experience in developing projects in cities such as 6th of October, Sheikh Zayed, and New Cairo, with a long track record of working across various new cities. His experience also extends internationally, having established companies in Oman, Kuwait, and Riyadh, and delivered distinguished hotel-managed projects.
Additionally, the company’s founding team features Ayman Mohamed, who brings over 10 years of experience in market analysis and real estate consultancy for leading firms, equipping him with strong management expertise and an in-depth understanding of real estate market’s dynamics.
The company’s board of directors also includes Khaled Mostafa, founder and owner of a major contracting firm with more than 16 years of experience in construction projects both in Egypt and internationally.
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