Marakez

Marakez Development was founded in 2015 and it is a key part of the Fawaz Al Hokair Group, which began in 1989 when three brothers—Fawaz, Salman, and Abdul Majeed Abdulaziz Alhokair—launched two menswear stores. Over the years, the Group has expanded significantly and now has a diverse range of investments, including construction, financial services, healthcare, hospitality, energy, fashion, and real estate development.

Marakez Development has made a significant mark in Egypt by creating a variety of well-known mixed-use projects. Their developments stretch from the North Coast to New Cairo, showcasing their commitment to enhancing urban living across the country.

Facts About Marakez Development

Recognizing the potential of the Egyptian economy, the Fawaz Al Hokair Group formed a new team of talented young Egyptian professionals in September 2015. This team was tasked with establishing the largest mixed-use development and management company in Egypt. 

As a result, Marakez Development was created, with a mission to become the first-choice mixed-use developer in Egypt and the region. This initiative reflects the Group's commitment to contributing positively to Egypt's growth and development.

Its vision also is to envision, build, and manage mixed-use developments that are the heart and soul of the communities they serve. It's worth noting some key figures that highlight the success of Marakez Developments:

• Experience: Marakez Real Estate Development Egypt has over 9 years of experience in the real estate sector.

• Land Area: The total land area of their projects exceeds 4 million square meters, showcasing their extensive footprint in mixed-use development.

These figures underline Marakez Real Estate Developments' significant impact on the Egyptian real estate market and their dedication to creating vibrant communities.

Marakez Development History 

Marakez Developments has built a remarkable history in the real estate sector, marked by significant milestones: 

• Foundation: Marakez was established as part of the Fawaz Al Hokair Group, which began in 1989. The Group initially focused on menswear stores before expanding into various sectors.

• Expansion into Egypt: The Group launched its first major project in Egypt with the Mall of Arabia in December 2010, marking a significant entry into the Egyptian market.

• September 2015: With a positive outlook on the Egyptian economy, the Group created a new team of young Egyptian professionals to establish the largest mixed-use development and management company in Egypt.

• Creation of MARAKEZ: This new vision led to the formation of MARAKEZ Real Estate Development, a local subsidiary focused on developing various projects across Egypt.

Through these achievements, Marakez Developments has established itself as a key player in the Egyptian real estate market, contributing to the growth and modernization of cities across the country. It’s worth mentioning that, one of the key milestones in the history of Marakez Developments is the appointment of Ahmed Demerdash Badrawi, as the Executive Vice Chairman in October 2015. His leadership has been instrumental in guiding the company's strategic development and expansion throughout Egypt. 

Marakez Development Founders & Owners 

Marakez Developments owes its success to a team of key players who have significantly contributed to the company's growth and strategic direction.

•  Ahmed Demerdash Badrawi, serving as the Executive Vice Chairman, has been pivotal in steering Marakez's development and expansion in Egypt since he joined the group in October 2015. His leadership has fostered innovation and growth within the organization. 

• Basil Ramzy, the Chief Executive Officer, has been leading a new phase of the company’s development since August 2015, overseeing all operations and implementing business strategies to enhance the Fawaz Al Hokair Group’s market presence.

• Mohamed Badr, the Chief Technical Officer, brings over 25 years of experience managing large-scale international projects, ensuring that Marakez maintains a high standard in its developments.

• Ismail Seoudi, the Chief Land Officer, has played a crucial role in advancing the company's land acquisitions and managing government relations since joining in October 2015. 

• Hesham Shoukry, serves as the Chief Human Resources and Mall Operations Officer at Marakez Developments, bringing over 20 years of HR and management experience across Asia and Africa. Since joining the company in January 2016, he has been instrumental in developing the organizational structure and establishing a robust human resources platform.

This leadership team drives Marakez's strategic initiatives and positions the company for continued success in the competitive real estate landscape.

MARAKEZ Development Top Projects

Marakez Developments boasts a diverse portfolio of projects across Egypt, showcasing its commitment to creating vibrant mixed-use communities. Notable developments include:

• District 5: District 5 is a popular mall in New Cairo City, and rolls over a land area of 200 acres of land. These 200 acres were evenly distributed between 100 for the residential use and the other 100 for the other uses. The live journey occupies 100 acres offering 1720 units. While the Play Journey occupies approximately 17,000 sqm. 

•  Ramla North Coast: Ramla North Coast is a world-class coastal destination developed by the Marakez Development. It covers a massive area of 406 acres in Ras El Hekma, North Coast. Over that large area, the resort features an array of amenities and activities, ensuring that the best summer experiences await Ramla’s homeowners. 

• Crescent Walk: The Crescent Walk Compound is an exceptional project by the Marakez Company and it was built on a massive area of 118 acres of land with the majority spaces of the total area dedicated to services, landscapes, and open spaces.

• AEON Towers in 6th of October City: The AEON Towers in 6th of October City is a unique project developed in the heart of 6th Of October City. It has a wide collection of fully finished residential apartments, serviced apartments, and penthouses. As well as AEON boasts a plethora of world-class amenities. 

Moreover, the Marakez Development has other upscale commercial projects around Egypt, which include but are not limited to: 

• Mall Of Arabia 
• Mall of Tanta
• District 5 Work
• Villa M Zamalek
• Mall of Arabia
• Mall of Mansoura
• Town Center

Fawaz Al Hokair Group: The Mother Company 

The Fawaz Al Hokair Group traces its origins to 1989, when brothers Fawaz, Salman, and Abdul Majeed Abdulaziz Alhokair established two menswear stores in Saudi Arabia. 

Over the years, the Group has evolved into a multifaceted enterprise with a diverse investment portfolio that spans various sectors, including construction, financial services, healthcare, hospitality, energy, fashion, and real estate development. In the realm of fashion retail, the Group operates over 2,100 stores across 16 countries, representing more than 80 prestigious international brands. 

This extensive network highlights the Group's significant impact on the global retail landscape. In addition to its fashion endeavors, the Fawaz Al Hokair Group has established a robust presence in the real estate sector, managing 17 shopping malls that encompass over 1.6 million square meters of prime retail space. 

Recognized as the largest retail developer in Saudi Arabia and one of the foremost developers in the Middle East, the Group has strategically expanded its operations beyond the Kingdom, investing in retail and real estate ventures throughout the Middle East and North Africa (MENA), as well as in the United States and Central Asia. This expansion reflects the Group's commitment to growth and innovation in a competitive global market.