Keep an eye on Waller County.
Gamal Enterprises purchased 245 acres in the formerly rural area about 45 miles northwest of Houston for a master-planned community, the Houston Business Journal reports.
The Houston-based real estate developer purchased the property from a U.S subsidiary of Angola state oil company Sonangol, though the purchase price remains undisclosed. The land, which was valued for tax purposes at about $1.8 million last year, will be part of a community with up to 2,500 single-family homes on the northwest side of FM 362 and Morrison Road.
Gamal Enterprises has not yet decided which homebuilders to partner with for the development. However, early plans are likely to include single-family homes and commercial pads. The company’s portfolio includes a range of real estate projects across the Greater Houston area and other Texas cities. Last year, Gamal Enterprises sold two tracts to the Woodlands-based LGI Homes and Sun Communities, a Michigan-based developer of manufactured-home communities.
The Waller County area is becoming a hot spot for development, with Houston-based Johnson Development Corp. recently acquiring 1,150 acres for a 2,800-home community, and the Woodlands-based Signorelli Company announcing plans to build a 365-acre master-planned community with 1,300 homes. Gamal Enterprises president and founder, Kareem Gamal, told the Houston Business Journal that his company owns multiple other tracts in the area, but details on their potential development have not yet been released.
Waller County boasts a population of 60,000 according to 2021 U.S Census Bureau estimates. Located in the northwestern quadrant of the Greater Houston area, the county has seen significant developments breaking ground in the industrial sector. Houston-based developers Parkside Capital and Vigavi closed a deal in November to develop 2.5 million square feet of warehouses.
Real estate data firm Zonda reports that developers are planning more than 18,600 lots across 17 future communities in the county, including four communities in the Royal Independent School District, where Gamal’s tracts are zoned. With LGI Homes and Houston-based Land Tejas’ Sunterra community also located in the area, Waller County is preparing for a population boom.
– Brandon Sams
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