MG Developments signs a cooperation agreement with Savills to manage the design and implementation of “The Mark” project in the Downtown area in the New Administrative Capital (NAC). 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.
MG Developments announces the signing of a joint venture with the First Abu Dhabi Bank to finance clients for the Lavida project with the longest repayment period of 15 years.
The step falls in line with the company’s framework to support its clients to purchase the units. The deal was signed after a study conducted by the bank for the company’s projects, which indicated the company’s financial stability that allows its projects to be self-financed, as well as the speed of implementation and the delivery to clients before the pre-set dates.
Aya Al-Shenawy, the commercial Director at MG Developments, expresses her gratitude for concluding a cooperation protocol between the company and the First Abu Dhabi Bank to finance those wishing to establish new units in Lavida. MG Developments Chairman Mohamed Metawee expresses that signing the deal reflects the long-term strategic relationship with the bank over the coming period.
Metawee also praised the real estate mortgage initiatives launched by the Egyptian government during the last few months and their positive impact on the market and the Egyptian economy.
Lavida is located in New Heliopolis and spans over an area of 26,000 sqm near Cairo International Airport. With a cost of EGP 400 million, Lavida is an integrated residential project that is divided into three neighborhoods are Venice, Naples, and Milan.
MG Developments, the owner of Blue Blue Sokhna Resort, announced the completion of the construction of the commercial mall of Blue Blue Sokhna Resort and the launch of its units for rent, that built on one floor "Strip Mall", with an area of 2,500 meters with investments amounting to EGP 100 M. Mohamed Metawee, CEO of MG Developments, stated that the Strip Mall is an open shopping center in which the shops are arranged in a single row with a front sidewalk and spacious parking and contains a number of large stores. The idea of this model is to serve the daily needs of the unit owners in the resort by providing the most important necessities like a supermarket, pharmacy, various restaurants, etc., as well as for visitors to Ain Sokhna, and its most important feature is the large parking spaces and the diversity and integration of options.
Metawee emphasized that the Strip Mall model is one of the most important environmentally friendly practices, as it is characterized by its small size and few complications related to the commercial activities as well as the great advantage for the tenants and companies as it provides them with an excellent and attractive commercial movement, as well as the appropriate design of the units according to their commercial requirements and the appropriateness of the total rent amount due to the smallness of the shops and the presence of space that takes into consideration their needs with the required height, design and operational requirements, which makes this model more than a fantastic opportunity to them.
Metawee added, today, we are very proud to say that the completion rate in Blue Blue Resort has reached 80% and our clients have been handed over the previous stages and they are now enjoying the resort and the services it provides, and we are constantly working to provide them with comfort and luxury, and this is a confirmation of the strategy adopted by MG Developments in all its projects. which is the launching the projects in distinct locations, international designs, and high quality finishes, whether internal or external, as well as full commitment with our customers to the delivery dates and we go further, as we deliver the units to their owners six months before the stipulated dates in the contracts. Aya El-Shenawy, Head of the commercial Sector at MG Developments, said that the Strip Mall of Blue Blue Resort is characterized by providing a special entrance for owners from inside the resort, as well as an external entrance that serves Sokhna visitors coming from and to Hurghada.
El-Shenawy added that the mall is an excellent destination for practicing commercial and administrative activities for companies and brand owners, as it has many features that attract customers, including the unique vital location of Blue Blue Resort on Ain Sokhna and Zafarana Road and the windmills area, and the main roads that facilitate access to and from it. El-Shenawy pointed out that Strip Mall offers a large number of alternatives, including a variety of commercial spaces, where spaces start from 20 square meters, and the presence of medical clinics that include the best doctors and specialists, luxurious restaurants and cafés that serve delicious dishes and the most delicious drinks, in addition to various entertainment venues that offer many activities and games to create an atmosphere of fun inside the mall, whether for adults or children, with security and guarding in the mall with installation of many modern surveillance cameras that work on 24 hour round.
MG Developments announces the launch of the fourth phase of its project Blue Blue Sokhna Resort “Navy”, with investments estimated at EGP 500 mn. This came after the delivery of the previous three phases which are characterized by its sea view. Mohamed Metawee, CEO of MG Developments states that the fourth phase of the Blue Sokhna Resort is different and offers a distinctive experience. The Navy phase is far by only less than 50 m from the sea, with a shore that spans over 3,000 M.
The project includes many activities and recreational services such as a gym, a water sports center, a market area, a supermarket, restaurants, and cafes, Metawee adds. He further confirms that the launch of the “Navy” phase of the Blue Blue project comes as a continuation of the project, which has a completion rate of 80%.
“Our clients have been handed over the previous stages and they are now enjoying the resort and the services it provides”, he highlights, stressing that the company’s strategy is to launch projects in distinctive areas, with high-quality interior and exterior designs and finishes, in addition to handing over the units in time or delivering them 6 months ahead. On her part, Aya El-Shennawy, head of the commercial department at MG Developments adds that this phase’s units meet the different requirements of customers and of those who want to enjoy the sea view, not to mention the distinctive design of these units, affirming that “the company will deliver the chalets starting in 2023 with super lux finishing.”
Moreover, El-Shennawy highlights that the company offers this phase with suitable payment plans; 10% as a down payment, and up to 10 years installment schemes with no interest rates. Additionally, Metawee remarks that the commercial mall in Blue BlueSokhna Resort will be offered for leasing during the second quarter of 2021, in a bid to provide the owners and the visitors with an easy way to fulfill their needs. The commercial mall will include one floor, “strip mall,” and spans over an area of 2,500 m, with investments of around EGP 100 mn.
MG Developments announced that it is targeting an expansion strategy during 2021 through a number of already existing projects, as well as a number of other projects that will be launched during the coming period in a number of different destinations, as the company aims to achieve contractual sales of 3 billion pounds during the current year, especially as it is It depends on marketing competencies and experienced people as well as the good reputation associated with the name of the group and its current projects in terms of commitment to delivery dates as well as specifications as contracted and it follows various payment systems that suit many different segments.
Mohamed Metawee, CEO of MG Developments, said that the real estate market sales in Egypt exceed 200 billion pounds annually, and the company aims to obtain a share of 3 billion pounds from the total value of these sales by expanding and launching a number of new projects in different destinations that considered as an investment opportunity.
Metawee added that the company's projects are diversified in a number of fields, including residential, administrative, commercial and tourism, which makes the company have a diverse portfolio of projects that contribute to the inclusion of various new segments of clients, stressing the importance of investing in the new administrative capital, especially in the government district, as a good destination for investment. The capital enjoys the attention of the state and is considered a national project that will be vibrant after a short period of time, adding that investment in commercial activities is the highest in terms of return on investment due to the scarcity of commercial spaces in the government district because the area allocated to this sector does not exceed 15 pieces only.
Metawee pointed out that the company has expanded its contracts with real estate marketing companies, which already have a major role in this industry, by accelerating the sales rates of companies and real estate developers, this comes for their adoption of innovative marketing ideas based on the use of technology. Metawee revealed that this year will witness the company’s launch of a number of new projects in the new administrative capital, including two projects that are the first of our projects in the New Administrative Capital, with initial investments estimated at EGP 1.550 bn, namely the ProMark project, which is held in the government district and banks, and The Mark project, which is being held in the Downtown area.”
Metawee completed that the ProMark project is being built on an area of 8,836 sqm and with a building area of 25,000 sqm with 2 garage floors of 10,000 sqm. She emphasizes that the company already started the implementation of the project with a completion rate of 30% of the project before announcing it for sale, to confirm the strength and durability of its financial position and its ability to complete the project on the specified dates. The Mark project, which is commercial, administrative and hotel housing, built on an area of 3,144 sqm and with a building area of 1, 000 sqm divided into 11 floors in addition to 3 floors of a garage.
Metawee added that the company has also launched the fourth phase of the Blue Blue Sokhna project, with investments of 500 million pounds, after handing over the previous three phases, as this phase is distinguished by its proximity to the sea by a distance of 50 meters and all units see the sea as well as a group of distinctive services. Metawee added that during the end of the second quarter of the current year, the mall in Blue Blue will be offered for rent to facilitate the owners of Blue Blue to buy their needs, as well as visitors to Ain Sokhna, as the mall has a private entrance from inside the resort next to another entrance from the outside, and the mall is built on one floor. Strip Mall ", with an area of 2,500 square meters, with investments of 100 million pounds.
Metawee added that the company is now preparing to launch the Premium Business project, which is the second of its commercial administrative projects in the Fifth Settlement, with initial investment of 200 million pounds in the South Teseen Street, in addition to many services related to the commercial administrative building, including security of parking lots and cafes, as well as a service area for the building's visitors. Metawee added that the last phase of Lavida Compound will be offered with payment facilities of up to 10 years, and the units will be delivered with fully inishing
Mohamed Metawee, CEO of MG Developments Company, explained that the project is being built on an area of 8,836 thousand meters in the government district and banks in the Administrative Capital, and is distinguished by a main facade of the commercial and administrative building directly facing the Ministry of Finance, and the land has a building area of 25 thousand square meters divided into 2 A garage floor with a total area of 10 thousand meters and an area of 5 thousand commercial meters is the ground floor and the first floor, and 6 floors of administrative offices with a total of 10 thousand square meters.
Metawee stressing that the company has already started the implementation of the project before announcing it for sale to confirm the strength and durability of its financial position and its ability to complete the project without waiting for the financial returns from it.
"ProMark" project is distinguished by its unique location overlooking the central park and the square separating the government district from the financial one, which is considered the first areas to be operational in June 2021 according to government assurances to transfer the prime minister and all ministries, the House of Representatives, the Central Bank, the Stock Exchange and the House The Opera, in addition to the main centers of most banks and companies, and the main Monorail station, during the next year 2022, Metawee Pointed Metawee explained that the investment in commercial activities is the highest in terms of investment returns due to the scarcity of commercial spaces in this district as the area allocated for this sector does not exceed 15 plots, so the Promark project is the ideal solution for smart investors. Those who seek to achieve high returns and are looking for a privileged location with commercial units of various sizes and reasonable prices. Owning a commercial store or an administrative headquarters in "Promark" project is an investment opportunity due to the high density enjoyed by this region and large expected working hours, which will extend from 7 Morning to 7 pm, except for the evening period.
Metawee Said "We are proud to have access to the most prominent pivotal sites in the government district and banks in the Administrative Capital’, stressing the company's keenness to work on this project according to the latest global trends starting from planning the project by providing administrative spaces that suit all needs and are equipped with capabilities and technological services, in addition to services The project includes security and guarding, central air conditioning, electronic gates to the building and garage, elevators and other services” He added, we hired (ECG), one of the most important consulting engineering expertise houses in Egypt, as a general consultant for the project due to its expertise and distinguished engineering cadres that over 50 years have designed and supervised the construction of more than (2000) projects. It carries out studies on projects, sets general and detailed plans and supervises implementation, and focuses on the sectors of construction, urban development, mixed-use projects, energy, transportation, water, industry and gas.
Finally, "Metawee" assured that the company aims to expand and pump more investments in areas where it already exists and to market new projects there during the coming period in the Administrative Capital, Fifth Settlement and Ain Sokhna, in addition to launching new projects in different destinations and sectors in the New Administrative Capital, New Alamein and Sheikh Zayed. .
The ProMark is a commercial and administrative project in the government and banks district with investments of EGP 1.2 bn, and the The Mark is a commercial, medical, administrative hotel project in the Downtown area with investments of EGP 350 mn.
During the press conference held on April 7, Mohamed Metawee, chairman of MG Developments, reviews the group’s expansion plan in the real estate sector. The expansion strategy that the company is targeting during the coming period will witness the launch of other projects in several different destinations, such as West and East Cairo, New Alamein, and the New Administrative Capital.
Metawee emphasizes the success achieved by the group during the past years and the sectors that it entered, such as administrative, commercial, tourism and residential, through the delivery of the Lavida compound and three phases of the BlueBlue Ain Sokhna project. Metawee pointed out that the company’s philosophy is based on the good choice of destinations and distinguished sites to launch and implement its projects and the unique advantages that characterize these sites, which certainly achieve a good return on the investment, adding that the ProMark and The Mark are a practical example of this Philosophy.
Aya El-Shenawy, Director of commercial sector at MG Developments adds, “Today, we are proud to launch two projects that are the first of our projects in the New Administrative Capital, with initial investments estimated at EGP 1.550 bn, namely the ProMark project, which is held in the government district and banks, and The Mark project, which is being held in the Downtown area.” El-Shenawy states that the ProMark project is being built on an area of 8,836 sqm and with a building area of 25,000 sqm with 2 garage floors of 10,000 sqm. She emphasizes that the company already started the implementation of the project with a completion rate of 30% of the project before announcing it for sale, to confirm the strength and durability of its financial position and its ability to complete the project on the specified dates.
El-Shenawy reviews The Mark project, which is commercial, administrative and hotel housing, built on an area of 3,144 sqm and with a building area of 1, 000 sqm divided into 11 floors in addition to 3 floors of a garage. El-Shenawy added that MG has been hired, the office of (Design & Study Of Construction - DSC International) and Prof. Dr. Nabil Harazi as a general consultant for the projects.
MG Developments is preparing to launch the “Premium Business” project, with initial investments of EGP 200 million, which is its second commercial administrative project in the Fifth Settlement on South Teseen Street. The company said in a statement that the launch of this project coincides with the new expansion plan previously announced by the company to expand its activities and enter new markets and fields.
Earlier, the company launched the “Headquarter Business” project in the Fifth Settlement, and its investments exceeded one billion pounds, and it will be ready by the end of this year.
Mohamed Metawee, Chairman of MG Developments, said that the company adopts a strategy of expansion and diversification in the real estate field and started with the residential sector and implemented the Lavida project and delivered it. The first and second of it.
The company launched its first projects in the administrative and commercial field in 2018 with the HQ project. Metawee pointed out that the company is proposing its second project in the administrative and commercial field, Prime Business, with initial investments of 200 million pounds, and work will start on it soon. He explained that the building will consist of 5 floors with an intelligent design of spaces, a commercial area, meeting rooms, advanced elevators, a parking area, an advanced fire-fighting system, backup electricity generators, designated smoking areas, open areas, landscapes, a car service center, shared kitchens, technical support services, backup water tanks, services for visitors, high-speed internet and a center ATM for quick banking services, security and property management.
MG Developments announced that it has started running its expansion plan, by expanding in new projects in the New Administrative Capital, Sheikh Zayed and the Fifth Settlement by launching new projects and also entering into strategic partnerships with real estate developers. The plan comes coping with the strategic plan set by the group and started in its implementation from June 2020 for the next three years, which is summarized in launching new projects in different destinations and sectors, and the injection of more investments to achieve its approach to expansion horizontally and vertically.
Mohamed Metawee, CEO of MG Developments, stated that the company is completing the implementation of the expansion plan that has been drawn up since 2015 and stopped on November 2016 due to the devaluation. After the delivery of the first and second stages of BlueBlue Sokhna and the delivery of Lavida Compound, the company decided to resume the expansion plan vertically and horizontally and penetrated new sectors after its success in the residential, tourism, commercial and administrative real estate sector; And now it will expand into new urban areas that it has not previously worked in, such as the New Administrative Capital and Sheikh Zayed
The new targeted areas are distinguished by a promising future due to the diversity of projects between residential, administrative, commercial and tourist, which will help increase the return on investments for the individuals and companies as well in those areas, especially for its modernity and the quality of the infrastructure and the modern roads network that connects them with all Governorates, this making it the best choice for many, Metawee confirmed.
The Administrative Capital represents a strong attraction for real estate developers and individuals alike as it has been planned with international standards represented in advanced urban planning, and a high-level living environment in terms of health services, education, transportation, entertainment, arts, culture, shopping and others of the things that make it compatible with the company's orientations and strategy, Metawee explained
MG Developments announced on its contracted with a number of leading companies that undertake internal and external finishes for the HQ "Headquarters Business" project in the Fifth Settlement, where the group has contracted with Section Solutions for Glass, the authorized agent of the Belgian company, Reynaers Aluminium and also signed a contract with the Italian company KONE Elevators and LG, which specializes in air conditioning and mechanical ventilation systems.
Mohamed Metawee, Chairman of MG Developments, said that the contract with the three companies comes as a result of good previous work for each of them, as a contract has been signed with Sections Solutions, the authorized agent of the Belgian company, Reynaers Aluminium, which specializes in providing high-quality aluminum systems; to cover glass facades for the HQ project "Headquarters Business" in the Fifth Settlement.
Metawee added that the use of glass facades in the HQ building, "Headquarters Business", aims to implement modern advanced systems to beautify real estate, maximize its value, and raise its ability to meet the requirements of current and potential clients of international banks, institutions and cafes has a certain specifications, all by using the sciences of external facades and internal systems.
Metawee" also stressed that MG Developments is keen to ensure that the specifications of the HQ "Headquarters Business" project conform to international standards, as the aluminum works will have a global guarantee certificate and provide complete isolation of water and dust.
In a related context, the company contracted with KONE Elevators to supply and install 6 elevators of Italian origin to serve all floors of the HQ "Headquarters Business" building, starting from the garage to the roof, as well as allocating 2 special elevators to serve visitors and the commercial. The elevators comply with the latest specifications and conditions for safety and usage, and to the special European codes as well.
In addition, MG Developments is contracted with Innovere Supplies and Contracting (the contractor approved by LG Egypt) to supply, install and operate air conditioning and mechanical ventilation systems with highly energy-efficient systems (VRF) with environmentally friendly gas and conversion technology.
MG Developments signed a cooperation agreement with British-based Savills to run and lease EGP1bn Headquarter Business at Cairo’s First Sector of 90 th Street. Mohamed Metawee, CEO of MG Development and Catesby Langer-Paget, Head of Savills Egypt signed the agreement in the presence of officials of the two companies.
With the aim of handing out upscale services, the agreement stipulates the provision of running, operating and leasing solutions for HQ’s headquarters, shopping mall, services and conference halls. The list of parties due to benefit from the agreement includes owners of stores and offices, as a leading international company for leasing, operating and maintenance of projects is set to be hired. The agreement, according to Mohamed Metawee, CEO of MG Developments shall play a key role in carrying out the latter’s expansion strategy and recruiting specialists with the aim of providing comprehensive solutions.
“ We signed this agreement with Savills, an internationally renowned company with operations in 70 countries worldwide, in order to enable the company to occupy a prominent position and acquire a competitive edge. Savills, owning 600 offices and institutions worldwide and running 200 million sqm of properties, is operating several projects in Egypt. Savills has been actively working in the Middle East and Gulf States for more than 43 years. ” He said. Catesby Langer-Paget, Head of Savills Egypt said: “We have been eyeing the East of Cairo for quite some time now, and after many proposals, found that HQ will be a significant addition to Savills portfolio. We are excited to be instructed on such an inspiring project. Cairo has many exciting real estate projects which require real estate advisory services and HQ provides us with the perfect opportunity to demonstrate the value that we can add for our clients on the East side of Cairo.”
According to Metawee, cooperation with Savills will prove instrumental in extending unique and upscale services to owners and residents of HQ. The cooperation helps maintain the assets of this building, and thus help generate more returns, as there are more than 22 varied services given to the building’s visitors, such as smart designs for spaces, VIP hall, a commercial area, conference halls, Sky Lounge, ritzy elevators, a parking area, a prime fire-fighting system, standby generator, no-smoking areas, landscaping, car service center, joint kitchens, technical support services, standby water tanks, services for visitors, gaming, high-speed internet, ATMs, properties security management.
The project spreads over a total area of 11,000m, as the first floor has areas ranging from 1600m to 1850m. The building consists of two underground floors and a basement. The commercial area has 6 floors and the building consists of a two-story garage spanning an area of 9000m and provides a capacity for 208 vehicles, Metawee explained.
Due attention has been given to providing multiple entrances, one for the office building and another for the commercial building. Moreover, all offices have fully finished facades. MG Development is continuing to tap the state-of-the-art techniques, eminent professionals, administrative and executive expertise in order to cater to needs of local and foreign clients while keeping an eye on augmenting their return on investment all the time, Metawee elaborated.
Mohamed Metawee: We totally care about the details, built to last and we are committed to the delivery times and this is what distinguishes the Group's projects
MG Developments has announced the starting of construction of the HQ project placed in the first sector on 90th Street at Al Tagmou' Al Khames with total area is 5000 meters. The company is working hard to complete the project as soon as possible since the project was launched last November which will be implemented at the highest level using the best technologies and methods and the arts of construction and architecture to match the same in many countries in the Arab region, especially the HQ is the kickoff for the group in the commercial and administrative field. The total investment for the HQ reach to 1 billion pounds "The Headquarter's Business is the first of its kind or the kickoff in the administrative and commercial fields. We work very hard to complete the project as soon as possible. The total area of the project is 11,000 meters, the floor space around 1600 meters to 1850 meters. The building consists of two floors under the ground and the ground floor is represented in the commercial area and the administrative reaches 5 floors. The building is also equipped with a two-story garage parking on an area of 9000 meters for 208 cars. There are many entrances for the building and we allocated entrances for administrative and other for commercial plus all offices have a complete front-end finishing”, Quoted by Mohamed Metawee, CEO of MG Developments
Metawee noted that the completion rate in the project will exceed 60% after the completion of the concrete structure of the building during 2019 and we will work in the coming period to
provide the building with the basic technological structure, taking in consideration all the changes or needs that may need to be added in the future to provide an integrated service for all project beneficiaries whether in the administrative or commercial fields.
Metawee stressed when the group launching a project that’s means does not sell a building or a unit consisting of concrete or building materials, but we sticky to works to provide a community and integrated services for that project, so we designed HQ based on everything that a business offices could need to become YOUR BUSINESS ADDRESS throughout our design process, also we work to create lasting architectural expressions, incorporating the latest building technology while maintain building integrity that flows seamlessly with its surroundings. We provided the HQ with many facilities such as smart spaces, VIP lounge, commercial area, conference rooms, sky lounge, meeting rooms, elevators, parking area, fire fighting system, backup generators, smoking area, open court with landscape, car care services, common kitchenettes, IT facilities, horizon meeting rooms, visitor’s management services, Gym, high- speed WI FI connection, ATM center, security and property management
Aya Al-Shenawy, Head of development at MG Developments praised the customers' keenness to reserve different areas in the HQ as the company provide all areas or spaces ranging from 68 meters to 1850 meters per floor as well the competitive prices and payment periods that suit many customers or needs. “The most important things that characteristic all company’s projects is the quality of all the work, from fundamentals and soil tests and construction to high-end finishes, as well as the company pays great attention to maintenance of all projects and to preserve on the real estate wealth, in addition to our excellence in terms of delivery time and this is well-known to all of our customers and in the real estate sector as well”, Al-Shenawy added
Mohamed Rashad's Concert @ Blueblue Oct 2021 https://www.youtube.com/watch?v=9jDZdtCECzA&ab_channel=MGDevelopments
Nesma Mahgoub & Nour project blue blue https://www.youtube.com/watch?v=itvCAf-8bmU&ab_channel=MGDevelopments
Hamaki And Massar Egbari Beach Concert https://www.youtube.com/watch?v=zib9rTyHoOw&ab_channel=MGDevelopments
Adha Festival Samira Said & Sharmoofers Musician Party https://www.youtube.com/watch?v=VZp2NRishYo&ab_channel=MGDevelopments
Blue Blue Festival & Jannat Musician https://www.youtube.com/watch?v=XLdtl6ywqGk&ab_channel=MGDevelopments