Space Tank sets sights on new developments, expansion in Egypt by 2024

Daily News Egypt
3 Min Read

Space Tank, a firm specializing in the management of commercial establishments and service centres, has launched operations in Egypt. The company’s expertise lies in providing consultations, developing commercial units, and attracting top international agencies.

The company’s strategy includes analyzing the Egyptian market’s needs to enhance project profitability through partnerships with leading marketing firms and organizing exhibitions.

Currently, Space Tank holds contracts for managing four malls, totaling approximately 100,000 square meters, for three prominent real estate developers located in the Fifth Settlement, the Administrative Capital, and Sheikh Zayed. These contracts also encompass the management of amusement parks and entertainment zones.

Space Tank is actively developing two ongoing projects and plans to broaden its reach across all Egyptian governorates and the northern coast by 2024. The expansion targets new projects with commercial spaces ranging from 150,000 to 200,000 square meters.

The company is also engaged in several new contracts focused on development and is reviewing designs for a series of commercial centers, particularly in the New Administrative Capital. Space Tank is recognized for its capability to lease and sell commercial units and for drawing renowned international brands.

Looking ahead, Space Tank intends to undertake numerous new projects, leveraging its global expertise and partnerships in real estate consulting and the management of commercial and service centers, as well as entertainment cities. The company has achieved notable success with the development of the well-known amusement park in front of District 5.

Shady Selim, CEO of Space Tank, announced plans to introduce more commercial and entertainment projects, capitalizing on the company’s ability to attract premier international partners.

Selim highlighted Space Tank’s ambitious expansion vision, rooted in the highest standards of quality and development. He noted the company’s collaborations with leading developers on current projects and its efforts to develop a prominent portfolio of commercial centers with major real estate firms, including City Edge, Emaar, New Hawai, EBNY, Melee, Sky Abu Dhabi, and Orascom Investment Holding.

He emphasized the significance of urban expansion and Space Tank’s involvement in various Egyptian governorates, such as Kafr El-Sheikh and Delta governorates, which have seen a surge in demand for luxury commercial units. The company also maintains a strong presence in the Administrative Capital.

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