In view of its plan for expanding in the Egyptian market and executing groundbreaking projects, Capriole Group seeks to inject EGP 15 bn investments in the Egyptian market within the next five years, particularly in the New Administrative Capital (NAC), Invest-Gate reports.
On his part, Chairman of Capriole Group Mohamed Mofeed declares, “We chose this particular timing to come back and reinvest in the Egyptian market after we spent nearly 30 years working abroad. The current political leadership executed huge developmental projects.”
Mofeed comments, “The company is keen to transfer its expertise in renovation and reconstruction to the Egyptian market, through rolling out remarkable products, which commensurate with highest reconstruction and technology standards.”
In the wake of its success in carrying out prestigious service projects in areas of education and industry, the company opted to enter the Egyptian market to replicate that success. Mofeed further points out the launch of two subsidiaries, one for running commercial and administrative facilities and the other for contracting.
In regards to its existing investments in the Egyptian market, Capriole Group is executing two projects in NAC; the LINX complex, and a 12,000 sqm- school, according to the official press release.
LINX is a commercial, administrative and medical complex, consisting of 12 floors with two basements. The basement and first floor encompass 51 commercial units; the second to ninth floor include 280 administrative and medical units at investments worth EGP 1.5 bn. The company has finalized all procedures, including the issuance of ministerial decree and licenses. Moreover, constructions kicked off and the project is due to be marketed next August, as well as, the delivery is scheduled to start in the span of three years.
Capriole Group awarded the designing and engineering consultancy to Abu Dhabi-based Architecture & Planning Group (APG) for its 30-year-long history and experience. Additionally, Capriole Group signs a contract with MREC to run the commercial section at the project and to promote LINX.
On his part, Chairman of MREC Mahmoud Abd Al Halim remarks that the LINX complex spans over 7,635 m area and lies between R2 and R3 districts and is situated in close proximity to the Embassies Neighborhood and the Central Business District.
Moreover, its buildings and garages spread over 22,500 m and 15,200 m respectively. The administrative units occupy a whole floor ranging from 48 to 2,300 m. While the commercial units and clinics are between 27 and 54 m, respectively. Adding to that, fully-finished and air-conditioned administrative units and clinics will be handed over.
With the aim of reaching full utilization of spaces, LINX enjoys the highest standards of services that are supplied with a full security system, CCTV, BMU, FA, BM, a system for recycling garbage, solar cells, and eight elevators.
In a related context, Capriole Group launched the first branch of New Cairo’s Aspire Schools last year, with a British curriculum in which Capriole injected investments worth EGP 1 bn.
It is worth mentioning that Capriole Group, with a 30 year- experience, is one of the Egyptian companies that managed to establish a strong and distinguished trademark outside Egypt, particularly in the United Arab Emirates.
