AAIB Invests EGP 2 bn in Landmark Sabbour’s 1-NINETY

AAIB Invests EGP 2 bn in Landmark Sabbour’s 1-NINETY

Arab African International Bank (AAIB) has recently pumped investments worth EGP 2 bn into Landmark Sabbour’s latest New Cairo administrative/commercial project, or “1-NINETY,” to establish a new office building, Invest-Gate reports.

The new addition will cover about 52,000 out of the project’s 300,000-square-meter total area. It will be developed at 1-NINETY’s Office Park facility, which is set to lure prestigious enterprises for featuring “best-in-market” solutions such as heavy-duty elevators, certified fire protection, CCTV systems, food and beverage (F&B) outlets, in addition to a gym, an electric vehicle charging station, and high-speed, fiber-optic internet, Landmark Sabbour stated in a press release on June 8.

Besides, renowned Hill International was selected to provide post-delivery facility management solutions at Landmark Sabbour’s EGP 33.75 bn project. Accordingly, “AAIB has also appointed the global construction management firm to carry out the project management of our new administrative premises in 1-NINETY,” read the statement, noting, “the developer is also utilizing the top-notch consulting services of Sabbour Consulting throughout the project’s development.”

Commenting on the move, Managing Director and Vice Chairman of AAIB Sherif Elwy pointed out, “We wholeheartedly stand behind [Landmark Sabbour’s] mission and the manners they adopt while incorporating their wide range of skills in each project they become part of.”

“Our choice to extend our presence to 1-NINETY serves our vision of becoming one of the major and most accessible providers of innovative banking services in the region in a number of ways. The first, and most significant of which, is the exceptional location within the beating heart of New Cairo; in addition to services employed to ensure a well-rounded experience to all clients, as well as the distinctive line of design that the company exhibits within the project by [Skidmore, Owings, and Merri’s (SOM)] unique masterplan,” Elwy elaborated.

On his part, Managing Director of Landmark Sabbour Amr Sultan concluded, “There is a growing dynamic demand for administrative and commercial real estate projects, especially now that prime office rents are rising with vacancy volumes dropping.”


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