Zodiac Development announces that it has contracted with a number of major consulting companies in the Egyptian market to manage, carry out, and supervise engineering and architectural designs of the Mizar project, the company’s first project in the New Administrative Capital (NAC), Invest-Gate reports.
Furthermore, Zodiac has contracted with INMA, one of Genena Group’s companies, which has great experience in managing and operating mixed-use projects.
Zodiac Chairman Hassan Hassanein states that the company is seeking to contract with a number of successful well- experienced partners in the Egyptian market, to comply with the company’s plans to expand in NAC and provide products with the highest quality.
He Further explains that Mizar is located on 2,650 sqm with a 16,500 sqm built-up area that comprises commercial, administrative, and medical units. The 13-storey project is being developed with investments amounting to EGP 400 mn. Zodiac’s total investments in the market amounted to EGP 5 bn and plans to increase it in the first quarter of 2022.
“The company has a distinguished business record in the Egyptian market, especially in the downtown area through the implementation and development of residential towers, commercial and administrative malls, namely Tseppas MG Mall; as well as, the development and operation of Sednawy Mall with an investment cost worth EGP 80m,” Hassanien discloses.
For his part, Yasser Al Beltagy, chairman of YBA Architects, praises the cooperation with Zodiac Development, stressing that the cooperation between the two sides aims to develop the project at the highest levels of quality in designs and construction and to provide an unconventional real estate product capable of facing fierce competition in the New Capital.
Meanwhile, Zodiac’s CCO, Ahmed Fares, says that the company always seeks to cooperate with major specialized companies, led by INMA that has great experience in mixed-use projects including projects in New Cairo and Sheikh Zayed under the name “Trivium Mall”, in addition to a large specialized hospital in Nasr City. The total investments of these projects are estimated at EGP 4.5 bn.
Additionally, Fares points out that the company is heading to expand and direct new investments in fourth-generation cities, in line with the state’s plans for urban development, whether in the New Capital, New Alamein, and New Cairo, with commercial, administrative, medical, and residential projects.
In a related context, the company’s Sales Director Adham Hamad elaborates that the project represents a golden investment opportunity for those wishing to invest in property, explaining that Zodiac offers various payment systems to customers suit their different needs and capabilities, starting from 10% down payment and payment plan up to eight years.