SAM Developments Lays Foundation Stone for “90Gate” Project, Kicking Off Actual Construction

SAM Developments has officially laid the foundation stone for its premier Egyptian project, “90Gate,” transitioning swiftly from the launch phase to active on-site construction. The milestone event took place in the presence of company leadership, journalists, and media figures, following the complete sell-out of the project’s first phase shortly after its initial market debut.

Dr. Samer El-Beik, Founder and Chairman of SAM Developments, emphasized that the rapid progression to construction demonstrates the company’s integrated operational capabilities and commitment to turning visions into tangible realities. He noted that the initial works will immediately focus on excavation and shoring operations, aligning with a carefully studied execution program designed to meet high standards of quality and efficiency.

Addressing recent presidential directives regarding the regulation of real estate contracts and timely deliveries, El-Beik welcomed the measures, stating they reinforce market transparency and protect consumer rights. He also dismissed notions of a market recession, explaining that the Egyptian real estate sector is instead undergoing a phase of prioritized maturity where buyers increasingly demand execution credibility, strong developer portfolios, and high investment value.

Adding to this, Hisham El-Fouly, Chief Commercial Officer, highlighted that the overwhelming demand from investors carries a profound responsibility to deliver operational excellence rather than just sales. He reiterated that the company’s core philosophy centers on transparency and building lasting trust through actual, visible progress on the ground.

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Eman Hamed

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