New Avenue Real Estate, a real estate marketing and brokerage firm, signed a cooperation protocol with Premiere Financial Consultants Inc. to jointly implement projects and to develop strategic alliances with investors and developers, reported Al Borsa.
“The protocol agreement aims at jointly managing real estate investments and holding major alliances with companies owning lands and willing to pump investments in the real estate market.” said New Avenue Chairman Ahmed El-Dessouky, according to Amwal Al Ghad.
There are several offers from companies to enter into an alliance with Premiere and New Avenue for the implementation of medical, hotel, and residential projects currently being studied, added El-Dessouky.
The memoranda of cooperation is valid for two years, said Ahmed Abd El-Moghny, Managing Director of Premier Financial Consultants and member of the Board of Directors of Premier Holding.
With the protocol in place, the aim is to join forces with developers to implement projects in various fields in the real estate sector, such as education, medicine, tourism and other projects, added Abd El-Moghny.
New Avenue Real Estate recorded EGP 1.71 billion in rental deals in recent months, reported Daily News Egypt. The company has successfully leased a 3,500-square meter administrative headquarters for EGP 55 million over a five-year period. The headquarters are inside Cairo Festival City in New Cairo and is leased to Alstom Egypt, a company specialized in the transport of energy projects.
New Avenue Real Estate was founded in 2014 and is marketing projects for leading real estate developers such as Emaar, Sodic, Mountain View, and Palm Hills.