Empire State Developments

Eng. Mostafa Mohsen serves as the Chairman of the Board of Directors of Empire State Developments (ESD) in Egypt. He has announced plans for the company to invest EGP 17 billion in the Egyptian real estate market over the coming years, with a focus on opportunities in both east and west Cairo, particularly in the New Zayed and New Sphinx areas, as well as land acquisitions in the New Administrative Capital. Under his leadership, ESD owns El Centro Mall, which spans 5,231 square meters and features two floors plus 15 additional floors nearby. Mohsen highlights the company's diversified portfolio across industries such as real estate and construction, along with strong financial backing for timely project execution. He emphasizes the significance of Egypt's real estate sector, which accounts for approximately 20% of the GDP and employs around 12% of the workforce. Additionally, he has indicated a forthcoming partnership with a major Saudi entity.