CRED Developments is an Egyptian real estate developer operating under its current brand since April 2022, when Castle Development changed its name to CRED. Its East Cairo office is on South 90 Street in New Cairo, with a second office at Arkan Plaza in Sheikh Zayed. The official portfolio comprises CLM, Ever West Cairo, and Ever New Cairo.
The company draws on the contracting and engineering background of the wider MIG group. However, official sources do not state a separate legal incorporation year for CRED. The establishment of the Saudi sister company ABC in 1980 and the start of MIG’s Egyptian operations in 1997 are therefore not presented as CRED’s founding year. No verified public total is available for delivered units, although CLM-specific handover figures have been published.
CRED’s History and Brand Development
The portfolio now marketed by CRED originated under Castle Development, the developer of Castle Landmark in the New Administrative Capital. On 20 April 2022, the company announced that it was changing its brand to CRED as it prepared a new West Cairo project and future developments. The New Capital development later retained the abbreviation CLM, while Castle Gate became the name of its commercial component.
CRED is associated with Masrya International Group, which began operating in Egypt in 1997 in contracting, engineering, and construction solutions. The group also traces a corporate link to ABC, founded in Saudi Arabia in 1980. This background demonstrates group experience but does not establish a separate incorporation date for the current real estate brand.
- 2022: The CRED brand was launched and Ever West Cairo was introduced with announced investment of EGP 9 billion.
- 2023: CLM first-phase handovers began, and Dex Squared was appointed to advise on Ever’s hospitality component.
- 2024: Ever New Cairo was launched with announced investment of EGP 30 billion.
- 2025: The chief executive reported increased construction spending and a continued emphasis on execution.
Major CRED Developments Projects
Residential and Integrated Communities
- CLM — New Administrative Capital: a residential community in the R7 district beside Coventry British University. Its plan includes homes, green areas, a clubhouse, sports facilities, underground parking, and the Castle Gate Mall component.
- Ever West Cairo — West Cairo: a mixed-use development directly on the 26th of July Corridor near Mall of Arabia and Misr University, combining fully finished homes with commercial, medical, and hospitality space.
- Ever New Cairo — Sixth Settlement: a 129-feddan residential community in East Cairo near the New Administrative Capital, with access from the Ring Road and Ain Sokhna Road.
Commercial and Hospitality Components
CLM includes Castle Gate Mall, while Ever West Cairo combines residential, retail, medical, and hospitality uses. CRED appointed Dex Squared to provide advisory services for Ever’s hotel component. The current official portfolio lists these three developments and does not present additional projects under unverified names.
CRED Developments in Numbers
| CRED brand launch | April 2022 |
| Current official portfolio | 3 principal projects |
| Ever New Cairo area | 129 feddans |
| Ever West Cairo investment at launch | EGP 9 billion |
| Announced Ever New Cairo investment | EGP 30 billion |
| CLM cost reported in September 2024 | EGP 5.6 billion |
| CLM units delivered by September 2024 | 200 first-phase units |
| Total company-wide delivered units | No verified public total is available |
| Offices | New Cairo and Sheikh Zayed |
In September 2024, the chief executive stated that CLM’s first phase contained 478 units and that the company intended to complete their handover together with 100 second-phase units. Announced targets are not treated as completed deliveries without a later confirmation.
CRED’s Management
Engineer Taha Mansour chairs CRED, Engineer Mohamed Edrees serves as managing director, and Engineer Ahmed Taha Mansour is the chief executive officer. The official management presentation places this structure within the wider MIG network of contracting, infrastructure, electromechanical, and woodwork businesses.
CRED appoints specialist consultants according to each project’s requirements. For CLM, the company lists EEPM for project management, Ökoplan for engineering consultancy, and ACE Moharram Bakhoum. Ever West Cairo consultants include Hany Saad Innovations, I. El-Habrouk Architects, YDG, and ACE Moharram Bakhoum, with Dex Squared engaged for hospitality advisory services.
Vision and Development Specialisms
CRED’s stated vision centres on integrated communities that connect housing, services, leisure, and work within a unified plan, supported by credibility, construction quality, and delivery. The approach is reflected in Ever’s mixed-use programme and the combination of residential and commercial facilities at CLM.
- Residential communities: developing homes supported by open space, amenities, and daily services.
- Mixed-use development: combining residential, retail, clinics, and hospitality at Ever West Cairo.
- Commercial development: providing components such as Castle Gate Mall to serve residents and surrounding districts.
- Construction-cycle management: drawing on group companies and consultants across design, contracting, and project management.
Announced investment and sales figures do not by themselves confirm completion. Each development should be assessed using current construction progress, permits, and updated handover schedules.
Latest CRED Developments Updates
During 2024, CRED concentrated on accelerating CLM construction. In September, it reported that expenditure had exceeded the EGP 800 million initially planned for that year and was expected to reach EGP 1 billion, with a further EGP 1.2 billion allocated to 2025 construction. CLM sales were reported at EGP 3.6 billion, with approximately 15% of the project remaining for sale at that date.
In 2025, the chief executive stated that construction spending had increased by 40% during the year, emphasising execution alongside sales. As of 2026, the official website continues to present CLM, Ever West Cairo, and Ever New Cairo as the company’s core portfolio, without publishing an updated company-wide handover total.
Frequently Asked Questions About CRED Developments
When was CRED Developments established?
The current CRED brand was launched in April 2022 following the rebranding of Castle Development. Official sources do not state a separate legal incorporation year for the present entity.
Who is the CEO of CRED Developments?
Engineer Ahmed Taha Mansour is the chief executive officer, while Engineer Taha Mansour chairs the company.
What are CRED’s main projects?
Its principal official projects are CLM, Ever West Cairo, and Ever New Cairo.
How many units has CRED delivered?
CRED reported delivering 200 first-phase CLM units by September 2024. No verified company-wide total is publicly available.
Where are CRED’s offices?
The East Cairo office is at Point 192 Building on South 90 Street in New Cairo. The West Cairo office is Office 312, Building 3, Arkan Plaza, Sheikh Zayed. The published hotline is 16533.