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
“ 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.