Mohamed Morshedy, one of the largest real estate developers in Egypt and the Middle East, established his company Memaar Al Morshedy in 1983. The company started with small independent projects and grew into a real estate empire, which currently includes 17 mega projects in Egypt and beyond. Morshedy knew he was destined to be an entrepreneur ever since he completed his university studies. With only one month of work experience in the petroleum sector, he decided to branch out on his own and bought his first apartment, redesigned it and sold it for a generous profit. From then on he was hooked and started a specialized real-estate company with a friend. Gradually his business grew from developing apartments to compounds, and then finally to developing an entire city.
A businessman by nature, his expertise expanded to include a diversity of commerce activities; including importing and exporting specialized chemicals as well as distributing English movies during the video era. However, no matter how successful he was in other industries, he was always most passionate about and successful in the real-estate sector. Even without marketing, his various construction projects in the Cairo district of Maadi made him a well-known figure within the local community. Soon, his activities expanded to include the districts of Zahraa El Maadi, the Ring Road, Nasr city, Kattameya and 6th of October City.
In 2000, Morshedy was offered a chair in parliament in view of his contribution to his community as well as his popularity as a business mogul. Even though he was not seeking to get into politics, he accepted the appointment as his national duty. He was the first parliament member from Maadi and his political venture proved to be both successful and rewarding. During his time in parliament, Morshedy became the youngest Secretary General of Maadi.
Morshedy is also a big believer in giving back to his community. In 2005, he established the ‘Morshedy Social Foundation’ to help Egyptians in need of medicine, shelter and other necessities. The foundation currently helps over 2000 families on a monthly basis.
In 2010, one month before the revolution, Moshedy became the first parliamentary member to resign on air. Driven by his instinct that a major change was about to happen, Morshedy went on to encourage other members to resign in order to maintain peace and avoid demonstrations, which might lead to violence and turmoil. Nevertheless in Jan 2011, the Egyptian revolution ensued.
After the economic turbulence in Egypt in 2011, Morshedy focused solely on his business; and in 2013 the company rapidly recovered from the financial difficulties it suffered due to political instability. Morshedy’s nonconventional formula of offering affordable residential complexes with top-notch quality and design proved to be a very popular combination and attracted a rapidly growing customer base. Meanwhile, the company also expanded to Greece, where Morshedy bought properties and land at optimum prices for future developments. The company is set to start selling units in Greece in 2019.
In Egypt, Morshedy has embarked on several collaborations with international architects and interior designers on several of his developments, including Crystal Plaza, One Kattameya, and Degla View among others. His latest mega project, Skyline, in Kattameya, is set to become the largest residential building in the world, with a total area of nearly 200,000 m2. It is set amidst captivating greenery and will harbor the world’s largest infinity pool. The project is also the company’s first collaboration with the internationally acclaimed real-estate developer, Mohamed Hadid. Skyline will be completed in 2022 and is set to transform Egypt’s and the region’s real estate landscape.