Key Information About First Group Developments First Group Developments began operating in its...
Key Information About First Group Developments
First Group Developments began operating in its current form in 2002 after its founders gained contracting experience between 1996 and 1998. The company gradually expanded from individual residential buildings to compounds and commercial centers, before focusing on larger projects in 6th of October City, October Gardens, and Sheikh Zayed, with additional activity in New Cairo, El Shorouk, and Maadi.
First Group Developments is currently associated with four widely recognized projects, alongside earlier developments such as Lazorde and New Garden. The company targeted investments of EGP 6 billion during 2019, while investments in Kenz Compound reached approximately EGP 1.5 billion, and Kaya Plaza recorded investments of nearly EGP 900 million.
First Group Developments built its competitive position by gradually increasing project scale and linking expansion decisions to construction progress. The company maintained a clear focus on West Cairo, selected locations connected to major roads and actual market demand, and diversified its unit mix across residential, commercial, administrative, and medical properties.
About First Group Developments
First Group Developments was established in 2002 by Engineer Bashir Mostafa in partnership with Engineer Ashraf Mansour, following an earlier contracting phase that began during the second half of the 1990s. The company did not begin with a large-scale development, but instead accumulated practical construction experience through individual buildings before moving into larger residential communities and commercial centers.
History and Development of First Group Developments
First Group Developments passed through several clear stages. It started with contracting activities between 1996 and 1998, was formally established in 2002, and later developed individual buildings in Sheikh Zayed, El Shorouk, Maadi, and the Fifth Settlement. Projects such as Lazorde and New Garden followed, while Kenz Compound marked the transition toward a larger residential development before the company expanded through Kazan, Kaya, and Silva in West Cairo.
Vision and Mission of First Group Developments
First Group Developments follows an approach based on selecting locations with clear demand, executing projects in phases, and moving to a new development as the previous project approaches handover. Its development strategy extends beyond residential properties to commercial, administrative, and medical activities, targeting buyers seeking practical use and investment opportunities in West Cairo.
- The company delivered part of the first phase of Kenz Compound before the announced date, providing an important execution indicator when reviewing the developer’s record.
- Sales in the first phase of Kazan Plaza reached approximately 95% during 2020, reflecting demand at the time of the announcement rather than the current sales position.
- The company expanded its portfolio from individual buildings to residential, commercial, administrative, and medical projects, with a clear focus on 6th of October City, Sheikh Zayed, and October Gardens.
These indicators show that the company should be assessed through actual construction progress, handover dates, and completion rates rather than promotional visibility alone. The absence of an officially published figure for completed projects or registered capital also requires a clear distinction between announced project investments and the company’s own financial value.
Projects by First Group Developments
First Group Developments owns a portfolio concentrated mainly in West Cairo, reflecting its transition from residential communities to villa developments and commercial centers.
- Kenz Compound October.
- Silva Compound Sheikh Zayed.
- Kazan Plaza Mall October.
- Kaya Plaza Mall 6 October.
