Rekaz Developments announces its partnership with MENTORS to manage the administrative and medical part of the OPAL project in the New Administrative Capital (NAC), Invest-Gate reports.

Bakir elaborates that OPAL is a mix-use project spanning over 20.000 sqm at an investment cost of EGP 300 mn, adding that OPAL is located in a privileged place in the MU23, which overlooks Mehwar of Al-Amal and the nearby Green River.

Additionally, the project includes 240 housing units, 126 medical units, 42 administrative units, and 73 commercial units. It also features various areas starting from 27 m for administrative units, 18 m for commercial units, and 18 m for medical units. Moreover, the company offers payment systems with a down payment starting from 10% and a period repayment of up to 8 years.

Furthermore, the project operates with minimal operating energy as a result of the presence of many specifications such as solar panels, reflective glass and sun breakers. OPAL includes a meeting room and fully furnished co-working spaces, smart technological operating systems, gym, swimming pool and central meeting room in the administrative part.

In a parallel context, Bakir declares that the company recently has launched a phase of the project called LIBRA, which targets entrepreneurs and young people looking for a variety of office spaces with hotel management.

He further explains that the company is building the project using the BIM system, which is one of the technological programs relies upon to assemble all the project elements like designs and spaces to make sure that there is no conflict between the components of the project. Noting that the project’s multiple elements of excellence contributed to its adoption of the Leed Certificate, an American certificate granted to sustainable green buildings.

Furthermore, he discloses that the construction rate has reached 30%, which is in line with the president’s directives to reach the construction ratio of the project by no less than 30% before marketing it, adding that DC Contracting is building the project. Besides, the company plans to complete the project by the end of 2022.

He states that the company is planning new hospitality and housing project in the Red Sea next month, as a part of the company’s expansion plan, which aims to expand in a number of areas in the coming period, in the Fifth Settlement, Sheikh Zayed and the Red Sea.

For his part, El Serry comments that MENTORS is a global company founded in 2010 in the Netherlands, highlighting that the company manages more than 5,000 sqm of fully equipped business spaces in the Egyptian real estate market.

Rekaz Developments CEO Tamer Bakir and MENTORS CEO Mohammed Al Serry have signed the contract in a ceremony with the attendance of journalists and officials from both sides.