The agreement also provides for leasing for rent hotel units to clients.
The company reveals the completion of the project’s concrete structure, adding that finishing works are underway.
MODON uses solar power in all its current projects to rationalize energy consumption, save the environment, and reduce operational costs.
The new destination will be located in The Groove Sokhna Resort’s retail area, in Ain Sokhna region.
Under the agreement, Business Loop will conduct demographic and market studies for locations of Mawten’s projects to attract successful brands.
Central Avenue is an addition to the company’s outstanding and diverse projects launched in the Egyptian market over more than 20 years, in Cairo and Upper Egypt.
Mohammed Rashid, CEO of MRB, notes that the agreement includes conducting all the project’s marketing and sales studies, as well as the operational design and plans of activity distribution, residency, lease, and project management.
Under the agreement, the two companies will help offer cost- and time-efficient technology in Egypt.
Revenue rises to EGP 3.082 bn in January-September from EGP 1.383 bn last year.
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