The Saudi-Egyptian real estate developer, Tamayoz for Investments and Development, intends to debut its second project in the New Administrative Capital (NAC), after the success of sales at its first project, Ivory Plaza.
Ivory Plaza, which is a commercial, administrative, and medical project situated on 6,200 sqm in the NAC, is expected to see sales worth EGP 600m.
The company’s Managing Director, Ahmed El Shazly, said that construction work rates at Ivory Plaza have reached 35%.
Tamayoz has contracted with MRP for Projects Management to manage and operate the mall, and setting up a marketing and operational strategy to ensure the project’s investment value is raised. MRP will also take over the optimal management and operation of the project, as well as achieving the highest investment return for clients and contracting with major brands.
El Shazly said that the company had previously implemented a large package of projects in New Cairo, Shorouk and Mokattam, at a construction cost of EGP 2bn.
Tamayoz CCO Mohamed Sorour said that the company has contracted with major companies to prepare the project designs and supervise implementation.
He added that Ivory Plaza serves about 25,000 housing units, with an expected population density of no less than 250,000 people.