Egypt-based Pinnacle Real Estate Investments and the Australian project management company TBH have signed a joint venture (JV) for the deployment of cutting edge project management techniques on February 29 at the Nile Ritz-Carlton, Cairo, Invest-Gate reports.

Sherif Seleem, chairman and CEO of Pinnacle, says in a note to Invest-Gate that the JV will contribute to training all calibers involved in the construction industry. “We want to participate in the sector progress in Egypt,” he highlights.

Under the JV, TBH will help Pinnacle address all its issues for the latter has been involved in almost 8,000 projects, he underlines.

Saleem adds that the market is now rapidly changing than before, given the ongoing developments of mega fast-track projects.

On his part, TBH Director Johnathan Shahady noted during the signing ceremony that the JV can help the country with its infrastructure developments, adding the country has to adopt the international workflow system that, according to him, can be a challenge. “If you want to bring the Olympic games to China, you have to do it the international way, not the Chinese way,” Shahady explains.

TBH Director George Matta sees that the Egyptian construction sector is bringing foreign demand, especially as Egypt has become safer. He also believes the Egyptian market is going in the right direction, highlighting “Egyptian real estate does not face any recession, and the statistics and numbers show an increase in the demand, which will lead to more activity in the real estate construction and infrastructure sectors.”

Matta concludes that having an effective investors’ dispute settlement mechanisms is critically important. “If I am an investor coming to Egypt, I will be wondering how disputes will be resolved to protect my rights and if I will be treated fairly or not,” he elucidates.