IC Group partners with Regus, a subsidiary of IWG, to open two new centers in New Administrative Capital (NAC), for ‘The Office’ project, which is located at the financial district, Invest-Gate reports.
The franchise agreement, which was signed back in June 2021, will see the creation of a pair of flexible workspaces in the business district in NAC. Both of the new centers will span more than 4,500 sqm and boast 220 offices, a selection of meeting rooms, a coffee bar, and a 500sqm lounge.
Additionally, this agreement aims to bring flexible workspace to NAC, as it is going to be a new hub for business from around the world and will be a tax-free area. Consequently, The Office (The first Regus center at NAC) is expected to witness high demand, according to the official statement. “Franchise co-working spaces, in particular, offer multiple revenue streams,” the statement reads. In this regard, Regus and IC Group believe the NAC is a great business opportunity to generate an excellent return on investment (ROI).
It’s worth mentioning that IWG has already several centers in Egypt that are well occupied, “so the demand for more state-of-the-art workspaces in the country is clearly there,” the statement concludes.