Rekaz Developments contracts with MENTORS to manage OPAL project at New Capital

Daily News Egypt
2 Min Read

Rekaz Developments has contracted with the international company MENTORS to manage the administrative and medical part of the OPAL project in the New Administrative Capital. 

CEO of Rekaz Developments Tamer Bakir said that OPAL is a mix-use project and is located on an area of ​​20.000sqm, includes medical administrative commercial units, at investment of about EGP 300m.The project also includes 240 housing units, 126 medical units, 42 administrative units, and 73 commercial units, with various spaces starting from 27 sqm for administrative units, 18 sqm for commercial units, and starting from 18 sqm for medical units.

In a press conference held on Monday, Bakir added that the company also offers payment systems with a down payment starting from 10% and a payment plan up to 8 years.

Recently, the company has launched LIBRA phase at the project, which targets entrepreneurs and young people looking for a variety of office spaces with hotel management, so that the customer purchases space that suits them as well as they will not be responsible for any work related to maintenance or cleanliness, with the possibility of renting this space for the benefit of client, he elaborated.

 Bakir further noted 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, added that the company plans to complete the project by the end of 2022.

 He revealed that the company plans to launch new hospitality and housing project in the Red Sea next month, as 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 city and the Red Sea, to diversify its investment portfolio.

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