Prax Real Estate Development launches under the leadership of Eng. Mohamed El-Refai
Prax Real Estate Development has announced the launch of its operations in the Egyptian market under the leadership of Eng. Mohamed El-Refai, marking a new step aimed at introducing a differentiated real estate development experience through the company’s first project in Egypt.
The company is being launched through an Egyptian-Saudi partnership between Prax and Asas Taba Real Estate Development, chaired by Osama Alamy. The alliance brings together specialized expertise in real estate development, asset management, marketing and sales, and commercial consultancy.
New Obour to Host Prax’s First Project
Prax has selected a strategic location at the entrance of New Obour City for its first project, capitalizing on the area’s growth potential and ongoing urban expansion. The company plans to leverage its team’s expertise to develop a project aimed at delivering added value to the local real estate market.
The project’s operational structure brings together a group of specialized professionals with extensive experience and track records across a number of real estate development projects, strengthening the alliance’s capabilities in managing the project across its various stages.
Specialized Expertise to Drive Development, Marketing and Sales
The project team includes Islam Khamis, CEO of Axes for Real Estate Development and Asset Management, alongside Mina Hakim, Commercial Consultant to the Board of Directors.
Shady Gaber, Chairman of Shad Management for Marketing Consultancy and Management, is also part of the team, while Rasha Hosny heads the sales division
The team reflects Prax’s reliance on an integrated pool of expertise spanning development, asset management, marketing, sales and commercial consultancy, supporting the project’s planning, execution and marketing phases.
September 15: Prax to Unveil Project Details and New Surprises
Prax Real Estate Development is preparing to reveal details and key highlights of its first project during the official launch event scheduled for September 15.
The event is expected to showcase the project’s main features and provide further details about its vision and components, marking the company’s official entry into the Egyptian real estate market.
Prax’s entry into Egypt through an Egyptian-Saudi alliance backed by specialized expertise comes amid continued expansion in the country’s real estate market, particularly across new urban communities. The company is taking its first steps with a strategically located project in New Obour, ahead of the details expected to be unveiled at its launch event.
