Gates Developments appoints Hassan Nasr as its new CEO

Gates Developments studies new projects and opportunities in the coming period

Gates Developments, the leading real estate developer announced that the board of directors (BoD) appointed Mr. Hassan Nasr as its new Chief Executive Officer (CEO), to execute the company’s new vision. Gates Developments plans to attract the best and most qualified in the market to continue its leadership in the real estate industry. The BoD believes that Nasr will succeed to achieve the company’s vision within the next period. Nasser has 25 years of experience in the field of development and management in real estate companies, in addition to his progressive experience in finance and operation management. Before joining Gates Developments, Nasr was working in City Edge, Palm Hills, and other major companies.

Hassan Nasr, Gates Developments CEO commented: “It’s a great honor for me to lead Gates Developments’ team, which includes a group of talented qualified people who possess the ability to overcome all obstacles, especially those associated with the Egyptian real estate market and growth, by focusing on diversification policy, creating new growth opportunities, and expansions projects of the company. I believe in our ability in realizing our mission through the successful application of the company’s vision and strategy. In this respect, our success milestone will always be taking advantage of investment opportunities in different sectors on the ground, guided by our most valuable asset of customer confidence in the company.”

“Gates Developments plans to expand in East & West Cairo, New Administrative Capital, North Coast, and the Red Sea, which is in-line with the government vision 2030 of developing new cities. In addition, our plan includes diversifying the company’s investment portfolio and providing clients with different types of products; thus, building on the success of our 5 projects Venia, Catalan, and Audaz mall in the New Administrative Capital, Westgate Business Hub- 6th of October and Plaza Espana Business Complex – Zaid City with a total investment of EGP 9 billion.” Nasr added: “our land bank reaches 96 acres including 3044 diverse units (residential, commercial, administrative, medical) and we are working on increasing it according to our expansion plan. We seek to expand our work of new outstanding projects based on the world's finest designs by the best Architecture companies worldwide. We have short-term and long-term goals to achieve sales ratios of up to EGP 3.2 billion in 2022, which started from day one and will see more achievements and success during the coming days.”

Hassan Nasr holds an MBA from AASTMT University and great experience in the field of development & management in real estate companies. In addition to his strong background in developing and implementing financial controls and change management with the ability to forecast future steps according to analyzing the market both locally and internationally. He has accomplished many achievements in the previous companies he worked for, in addition to his experience in developing the staff performance. This is evident in the performance improvement, achieving a great leap and increased profitability in those companies. He has also succeeded in developing the financial and administrative performance as well as his conscious thought that started to carry out in Gates developments to develop the land portfolio and projects in the east and west Cairo, North Coast, and the Red Sea