MG Developments, a Cairo-based real estate company, has signed a cooperation agreement with Savills, a real estate advisory and service provider, to manage the design and implementation of “The Mark” project in the Downtown area in the New Administrative Capital (NAC) of Egypt. Under the agreement, The Mark is to provide the best quality of services either in commercial or administrative units, to provide all comfortable means for beneficiaries.
On this occasion, Mohamed Metawee, CEO of MG Developments, states, “We are proud of our cooperation with Savills, especially it is not our first time, as Savills manages the HQ project in the Fifth Settlement,” noting, “Savills has strong experience as it operates in more than 70 countries with 600 offices worldwide.”
On his part, Catesby Langer-Paget, head of Savills Egypt Office, declares, “We have been looking forward to working in east Cairo, and we made it through the HQ project. Now, we are working on the vital project, The Mark, in NAC, which is seen as a valuable addition to Savills portfolio.”
Furthermore, Ahmed Farghaly, head of project and cost management at Savills Egypt Office, comments that they always aim to cooperate with big entities that have remarkable projects. And signing this agreement is a distinguished step for the company.
It is worth noting that the EGP 350-mn project is a commercial, medical, administrative, and hotel apartment project, that spans over 3,144 thousand sqm, with a built-up area of 15,000 sqm, comprising 11 floors and a 3-floor garage.
The agreement is signed by Mohamed Metawee, CEO of MG Developments, and Catesby Langer-Paget, head of Savills Egypt Office, in the presence of a number of officials from the two companies.