Menassat launches Eclipse business space in New Cairo with EGP 600m investments

Daily News Egypt
2 Min Read

Spanning 4,360 sqm on 90th St. North, Eclipse is located next to the Administrative Control Authority in the Banks District and has investments amounting to approximately EGP 600m.

“In less than ten months, we introduced two new projects to the Egyptian real estate market — Podia and Eclipse. Podia Tower is a commercial, medical, and administrative tower in the New Administrative Capital (NAC), and its sales reached nearly 40% in only nine months,” said Tarek Bahaa, the CEO of Menassat Developments. 

“Today, we’re launching our latest project, Eclipse, which is a retail and business complex. This year, our investments have reached approximately EGP 900m.” 

Bahaa noted that Menassat Developments aims to offer integrated and sustainable urban communities that are developed according to the highest standards and have a high investment value for owners.

He highlighted that Egypt’s real estate market is booming, especially commercial and administrative units, according to recent market research, adding that investors and business owners are currently looking to expand and be present in the most strategic places.

Moataz Shalaby, the CCO of Menassat Developments said that “Eclipse includes nearly 160 units ranging from 40 sqm to 120 sqm. Our partners are Eltizam Asset Management — a technology-driven investment company with significant investments in facilities management, real estate management, and energy management — LDP+ Partners, and the Architecture and Engineering Consultant, which is an Egyptian joint venture whose most prominent projects are Stadium Plaza in Jeddah, Al-Rashed Tower in Kuwait, and Jizan Icon Tower in Saudi Arabia.” 

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