Barwa Developments has signed a contract with MRB to manage and operate its flagship project, Central Mall El Shorouk, aiming to boost its investment value and strengthen its competitive edge in the market, Invest-Gate reports.
Ahmed Rageh, Chairman of Barwa Developments, emphasized that Central Mall spans 3,000 sqm in a prime location in El Shorouk City, adjacent to major residential projects like Sakan Misr and Dar Misr, as well as the Bank Complex. He highlighted the mall’s role in serving the growing demand for commercial, administrative, and entertainment services in the area.
Rageh noted that partnering with MRB aligns with Barwa’s strategy to collaborate with specialized firms that ensure quality execution and long-term project success. He added that management quality has become a critical success factor, particularly for mixed-use developments.
Looking ahead, Rageh revealed that Barwa plans to expand with new projects in the New Capital and New Cairo, with full details to be announced soon.
Abdel Fattah Farahat, CEO of Barwa Developments, stated that El Shorouk’s strategic location between Cairo-Suez and Cairo-Ismailia roads, and its proximity to the New Capital, make it an increasingly attractive hub for both residents and investors. He added that Barwa, through its sister company Al Rajhi Urban Development, has delivered over 150 projects in Egypt over the past 15 years.
Farahat highlighted Barwa’s expertise in mixed-use developments, which enables the company to design tailored real estate products that align with diverse client needs. The company currently owns four malls in El Shorouk: Hub 5 Mall, Barwa Mall, Central Mall, and Center Point — with several projects still under construction — alongside multiple residential ventures.
Amr Attia, Head of the Commercial Sector at Barwa, explained that Central Mall comprises a basement and three upper floors for commercial, medical, and administrative uses. The total leasable area is 6,000 sqm, with unit sizes starting from 25 sqm. Delivery is expected within three years.
He confirmed that the first phase of the mall has been fully sold out, while the second phase is now open, offering a wide mix of units with flexible pricing and payment plans.
Dr. Mohammed Rashid, Chairman of MRB, said the partnership reflects MRB’s mission to support developers focused on delivering real value to clients through professional operations. He noted that MRB’s responsibilities include reviewing designs, advising on operational efficiency, and optimizing investment returns while reducing long-term costs.
Rashid added that MRB operates on three core principles: market insight, product development tailored to both developers and end-users, and sustainable operations. He also noted MRB’s experience with over 90 projects nationwide — including 60 in the New Capital and 20 in Fifth Settlement — many of which are already operational.