Monterra Developments has entered Egypt’s real estate market through an Egyptian-Russian partnership, launching its first project, Monterra Bay, on the North Coast with investments estimated at EGP 25bn. CEO Mohamed Maamoun said the partnership combines financial investment with technical expertise. The project spans 55 feddans with around 1,440 residential units.
Monterra Developments, established in 2025, has launched Monterra Bay on Egypt's North Coast through an Egyptian-Russian partnership with estimated investments of EGP 25bn. Construction works began in September 2025 ahead of the official launch. CEO Mohamed Maamoun said the partnership "combines financial investment with technical expertise, reflecting broader economic ties between Egypt and Russia".
The project relies on affiliated construction companies that have participated in major national projects, including the El Dabaa Nuclear Power Plant. Spanning approximately 55 feddans, it includes around 1,440 residential units, primarily chalets from 100 to 135 sqm, with significant allocations for open spaces, landscaping, and water features. Maamoun stated the development will be delivered in phases, with the first phase expected within three years, and clients gaining beach access starting summer 2026.
Russian partner Anton Anuchin said the venture "reflects growing Russian confidence in Egypt’s economy," adding that Egypt could serve as a base for broader regional expansion. Co-founder Maxim noted that Monterra Developments plans gradual expansion in Egypt, with additional projects under study in Cairo.