MG Developments signs agreement with Savills to run HQ

MG Developments inked a cooperation agreement with British-based Savills to run and lease EGP1bn Headquarter Business at Cairo’s First Sector of Teseen Street.

Chairperson of MG Development Mohmed Mutaua and representative of Savills signed the agreement in the presence of officials of the two companies.

With the aim of handing out upscale services, the agreement stipulates the provision of running, operatingand leasing solutions for HQ’s headquarters, shopping mall, services and conference halls.

The list of parties due to benefit from the agreement includes owners of stores and offices, as a leading international company for leasing, operatingand maintenance of projects is set to be hired.

The agreement, according to MG Developments chairperson Mohmed Mutaua, shall play a key role in carrying out the latter’s expansion strategy and recruiting specialists with the aim of providing comprehensive solutions.

“ We inked this agreement with Savills, an internationally renowned company with operations in 70 countries worldwide, in order to enable the company to occupy a prominent position and acquire a competitive edge,” he said.

Savills, owning 600 offices and institutions worldwide and running 200 million sqm of properties, is operatingseveral projects in Egypt.

Savills has been actively working in the Middle East and Gulf States for more than 43 years.

Head of Savills’ Egypt office Catesby Langer underscored the importance of the agreement signed with MG Developments serving HQ project’s operation and maintenance.

“ We have been looking forward to working in East Cairo for a long period of time. We discovered that Headquarters will be a prominent addition to Savills portfolio and we are really enthusiastic about this preeminent project. There are also a lot of high-endreal estate projects in Cairo rendering a rare opportunity to deliver high-valued products to our clients in East Cairo.”

According to Mutaua, cooperation with Savills will prove instrumental in extending unique and upscale services to owners and residents of HQ.

The cooperation helps maintain the assets of this building, and thus help generate more returns, as there are more than 22 varied services given to the building’s visitors, such as smart designs for spaces, VIP hall, a commercial area, conference halls, Sky Lounge, ritzyelevators, a parking area, a prime fire-fighting system, standby generator, no-smoking areas, landscaping, car service center, joint kitchens, technical support services , standby water tanks, services for visitors, gaming, high-speed internet, ATMs, properties security management.

The project spreads over a total area of 11,000m, as the first floor has areas ranging from 1600m to 1850m.

The building consists of two underground floors and a basement.

The commercial area has 6 floors and the building consists of a two-story garage spanning an area of 9000m and provides a capacity for 208 vehicles, Mutaua explained.

Due attention has been given to providing multiple entrances, one for the office building and another for the commercial building.

Moreover, all offices have fully finished facades.

MG Development is continuing to tap the state-of-the-art techniques, eminent professionals, administrative and executive expertise in order to cater to needs of local and foreign clients while keeping an eye on augmenting their return on investment all the time, he elaborated.