Ontario Developments Partners with MRB, Art Line

Ontario Developments Partners with MRB, Art Line

Ontario Developments contracted with MRB Group to manage and operate its projects in the New Administrative Capital (NAC) and the Fifth Settlement area, in addition, Art Line Constructions has been selected as the engineering consultant for the projects, Invest-Gate reports.

Ontario Developments Vice Chairperson Mahmoud Hamed stated that the company is set to launch two new projects in New Cairo, and further details will be disclosed soon.

Hamed emphasized that MRB was chosen to manage the projects thanks to its successful track record and extensive portfolio of distinguished projects. He further confirmed that the company is steadily moving forward with new projects while accelerating the construction works of its first project in the NAC.

Hamed mentioned that the excavation works for the Maple Business Complex project, a commercial and administrative project spanning an area of 2,680 sqm, have been completed in the NAC. Construction and concrete works are scheduled to commence by the end of this year.

Mohamed Nassar, the Sales Sector Manager, stated that the company aims to achieve contractual sales of EGP 500 mn by the end of 2023. Additionally, the company plans to implement a coastal project in New Alamein City in the coming year.

Tarek Ashour, a board member and the Saudi partner, mentioned that the company aims to export Egyptian real estate. Ontario Developments plans to open its branch in Saudi Arabia by the end of this year, emphasizing that the strong historical relations between Egypt and Saudi Arabia have always been a major motivator for joint investments in various fields.

Islam El-Ekhtaby, the legal advisor for Ontario Developments, affirmed that the company has successfully attracted foreign partners, whether in existing projects or projects planned for the near future.

Ayman Ahmed, Co-Founder of Art Line Group, stated that the strategic partnership with Ontario Developments was formed due to the company’s clear vision and seriousness in project implementation and its ambitious plan to launch several major projects in the Egyptian market shortly.

Tamer Ahmed, Co-Founder of Art Line, added that their company relies on the latest architectural and planning methods to support modern and smart construction systems that meet customer requirements.

Mohamed Rashid, CEO of MRB for managing and operating commercial malls, stated that their company carefully selects its partners, and the contract with Ontario Developments was made after studying the projects and ensuring their strength and competitiveness.

He pointed out that MRB is keen on continuously developing its tools and relies on smart systems and modern management programs to keep up with market requirements, developers, and investors.


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