International real estate consultancy firm Savills has been appointed to offer property management and agency services for west Cairo’s Ivory Business Park (IBP), which is set to launch mid-2021, Invest-Gate reports.
On July 19, Ivory Investments partnered with Savills to manage, lease, and market its upcoming luxury project, including all tenant interaction, rent collection, maintenance, and security services, according to the recent press release.
With more than 10,000 square meters of office space and over 7,000 square meters of leasable retail within SODIC’s Allegria project, IBP will comprise over 70 shops and restaurants, a 120-room hotel, besides a cosmetic medical destination to be revealed next year, the statement noted.
“We are delighted to be working on such a luxurious and inspiring project. IBP is a significant addition to the Savills portfolio as we continue to grow across Egypt,” said Head of Savills Egypt Catesby Langer-Paget.
“Cairo has many exciting real estate projects which require property advisory services, and IBP provides us with the perfect opportunity to demonstrate the value that we can add to our clients here,” Langer-Paget was quoted as saying.
This announcement follows the rapid expansion of Savills in the North African country in recent years, taking on megaprojects such as west Cairo’s Arkan Plaza and smaller boutique residential spaces in Cairo’s affluent district Zamalek.