Baker McKenzie Cairo has acted as legal counsel to Abu Soma Development Company S.A., a real estate development company, in connection with its co-development agreement with MARAKEZ for the launch of Shams Soma, a new development at Soma Bay, one of Egypt’s leading Red Sea destinations.
The partnership marks a significant milestone in the continued growth of Soma Bay and reflects the increasing attractiveness of Egypt’s Red Sea coast as a premier destination for investment, tourism and real estate development. The collaboration brings together two prominent players in the Egyptian real estate sector and supports Soma Bay’s long-term expansion strategy through partnerships with leading regional developers.
Ghada El Ehwany, Managing Partner of Baker McKenzie Cairo, commented: “We are pleased to have advised Abu Soma Development Company on this important partnership with MARAKEZ. The transaction reflects the continued strength of Egypt’s real estate sector and highlights the growing appeal of integrated destination developments along the Red Sea coast. We are proud to support our clients on strategic projects that contribute to Egypt’s economic growth and tourism development.”
The Baker McKenzie Cairo team was led by Senior Counsel Mohamed Ghannam and the office’s Managing Partner Ghada El Ehwany, with support from Senior Associate Ahmed Shehata.
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