Menassat Developments announced on Saturday the signing of a strategic partnership contract with an alliance between SOLID Construction and Dar for Trading and Construction (DETAC) to carry out concrete works for the Podia Tower project at a cost of EGP 650m.
Chairperson of Manasat Developments Ahmed Amin Masoud said that the Podia Tower project — the first of its kind energy-saving medical administrative commercial building. The project is being developed in the New Administrative Capital (NAC) with an investment cost worth approximately EGP 2.5bn and was designed according to the latest modern construction systems. It boasts 25 storeys, in addition to a ground floor and basement consisting of three levels and is due to be fully completed in 2025.
Menassat has concluded several strategic partnerships with specific tasks, including Pinnacle, which has more than 30 years of experience in the field of engineering consultancy and is a design consultant for the project.
It has also contracted with Sabbour Consulting, which will be responsible for supervising the project constructions, as well as EHAF – Consulting Engineers, which will be responsible for managing the Podia Tower project during the design and construction phases.
Moreover, it has contracted with Nile Engineering Consulting Bureau, which is responsible for the work of soil tests, in addition to contracting with Emirati Eltizam Asset Management Group, which will be responsible for managing facilities and assets of the Podia Tower and Eclipse projects.
CEO of Menassat Developments Tarek Bahaa stated that all project drawings were reviewed by the Administrative Capital for Urban Development (ACUD) and a statement of validity was obtained from NAC Authority. Accordingly, Menassat became the first company in the NAC’s Downtown area to obtain a certificate of validity.
“We also reviewed construction, architectural, and electromechanical drawings from the Housing and Building National Research Centre and all approvals were reviewed again by the ACUD. The company is currently working on obtaining a license from the NAC Authority in the coming weeks as well,” Bahaa added.
