Leading Egyptian real estate company, City Edge Developments, and Savills, one of the world’s leading property consultancies, sign exclusive leasing, property management, and marketing agreement for North Square, Invest-Gate reports.
The project is located in the heart of New Alamein City, covers a total area of 164,000 m2, and is set for operation in summer 2022.
As the North Coast’s first entertainment hub overlooking the Mediterranean, with enhanced accessibility to and from the corniche, North Square Mall exhibits 86,000 m2 to be leased, features retail, cultural, F&B options, as well as a parking area with 3200 slots, ultimately offering a comprehensive experience for New Alamein and the entire North Coast.
Abdel Moteleb Mamdouh, vice chairman of NUCA, says that New Alamein is set to host 2 mn residents by 2030 and is projected to start welcoming residents this year as it possesses all the components necessary to create and sustain different lifestyles all year round; it provides residents with integrated solutions including administrative, medical, 5-star hotel experiences, as well as educational services, featuring Alamein International University, and a new campus for the Arab Academy for Science, Technology & Maritime Transport, besides different elements that aim at attracting agricultural and industrial investments.
Mohamed El Dahan, CEO of City Edge Developments says that after completing the construction phase, we are bringing a unique complex featuring the biggest international and local experiences in shopping and F&B to the North Coast.
For his part, Head of Savills Egypt, Catesby Langer-Paget says: “New Alamein is very attractive to developers and investors, and this agreement with City Edge is a great opportunity thanks to City Edge’s diverse portfolio of products taking place across the country.”