Memaar Al Morshedy Development: In 1983, Mohammed Al Morshedy founded Al Morshedy Group with a clear business strategy to penetrate the real estate development industry. They later became known as Degla Developments. The company offers a new concept of living as it provides integrated projects that combine residential, administrative and commercial buildings in one place to help its customers enjoy a more comfortable life. Memaar Al Morshedy Developments Projects: Compound Zahra El Morshedy North Coast Skyline Katamya. Katameya Business Gate. Katameya Medical Gate. Katameya Gate One Katameya Degla Landmark Rayhanah Avenue Rayhanah Plaza