Riyadh – Sharikat Mubasher: Cairo-based real estate developer Hyde Park Developments is preparing to establish a company in Saudi Arabia next month, as it eyes expansion into the Kingdom’s booming property sector.

Speaking to Asharq Business on the sidelines of the Aqarmap Summit in Cairo, Amin Serag, CEO of Hyde Park Developments, added that the firm is currently evaluating three potential projects, with plans to select one for its first real estate development in Saudi Arabia, set to launch later this year.

Serag also revealed that Hyde Park is targeting EGP 75 billion in sales this year across its projects in East and West Cairo and the North Coast.

Serag noted that interest rate cuts would benefit the real estate sector and confirmed that the company plans to pursue securitization deals, starting with one valued at EGP 1 billion, which could increase if further rate reductions occur.