Talaat Moustafa Group (TMG) has signed an agreement with Savills, a British real estate services company, to provide asset and facility management consulting services and exclusive leasing services for “The Strip” project, the latest commercial project in Madinaty.
The project includes 125 commercial units with a rental area of 28,000 square meters. It will provide all the services needed by the residents of Madinaty and the entire eastern regions of Cairo, including restaurants, cafes, bank branches, car showrooms, a gym, ATMs (drive-thru), pharmacies, bakeries, libraries, jewellery and clothing stores, and various sports and commercial activities.
Omar Hisham Talaat, Chief Executive for Business Development at TMG, said that the agreement with Savills comes within the framework of the group’s keenness to contract with international companies to attract the largest brands in Madinaty. He added that the group has implemented about 400,000 square meters as rental areas in the past years, and aspires to reach 1.2 million square meters during the next 10 years.
Omar Hisham explained that the group is keen that the new project includes branches of the most famous and largest brands in various fields, stressing that the “The Strip” project comes as a continuation of the great successes achieved by Talaat Moustafa Group in developing many integrated commercial centres and shopping destinations in its various projects. Most notably, the Open Air Mall, Craft Zone, East Hub, All Seasons Park in Madinaty, Gateway Avenue, and the Eastern Market in Rehab.
Catesby Langer-Baget, Head of Office at Savills Egypt, said that the company is pleased to have been chosen by TMG to provide asset and facility management consultancy and leasing services. He added that Savills takes a comprehensive approach to asset and facility management, using proven procedures, optimized processes, and robust systems to preserve and enhance the value of assets over the years.
He added: “Thanks to our experience in managing assets and facilities, Savills provides real estate owners with the tools and strategies necessary to succeed in the current competitive market. Through its cooperation with us, Talaat Moustafa Group can rest assured that its assets will achieve maximum benefit and maintain their value in the long term.”
The “The Strip” project is one of the most recent commercial centres and shopping destinations for Talaat Moustafa Group in Madinaty. The mall is located in a prime location south of Madinaty near the Administrative Capital and Mostakbal City, with a rental area of about 28,000 square meters. The first phase of the project is expected to open in the last quarter. of the current year.
