"Radix Development" contracts "IEC" to design "Agile" in NAC

Ahmed Zaghloul: The company plans to expand in the Egyptian market in the coming period through the "Agile" project during this year.

Faisal Abu Al-Azm: We are happy to have a "Radix Development" project, and we are keen to provide a different architectural product that suits the market requirements.

"Radix Development", a real estate development company, one of the Saudi Muwafaq Group companies, has contracted with the "IEC" engineering consultancy office to lay down the engineering designs for the "Agile" project in the New Administrative Capital.

The contract was signed by Ahmed Zaghloul, Executive Director of "Radix Development" for Real Estate Development and Engineering Consultant, Faisal Abu Al Azm, Chief Executive Officer ( CEO )of the "IEC" Engineering Consulting Office.

Ahmed Zaghloul, Executive Director of "Radix Development" for Real Estate Development, said that the contract with the "IEC" engineering consultancy office,one of the best engineering offices and expertise houses, came as a result of its experience in administrative and commercial projects.

Zaghloul explained that the company plansto start implementing the project this year and pumping investments worth EGP 300 million and aims to provide a distinct real estate product that matches the engineering designs, pointing out that the company took care during the selection of the project design to meet the needs ofthe target customers in light of the competition in NAC'sDowntown.

Zaghloul added that the Saudi Muwafaq Group, which owns the "Radix Development" company, will oversee and supervise the implementation work through one of its advisory branches. “The implementation work will be assigned to one of the group's companies next June”.

Zaghloul continued that the company's plan aims to raise its investments in the real estate market to 5 billion pounds during the next 3 years through an investment plan that includes the development of new projects, especially in the New Administrative Capital and New Al-mein City, in line with the state's directions and to provide a good investment climate that contributesto attracting new capital, whether Local or Gulf.

The Executive Director pointed out that the investments of the "Agile" commercial project in the Downtown area in the New Administrative Capital amounted to 850 million pounds, and are expected to reach one billion pounds by the completion of the development of the project.

Zaghloul pointed out that the company is studying the investment opportunities available in the real estate market to prepare for the development of a new project that will be announced after selecting a site and determining the quality of the real estate products that are slated to bedeveloped.

Akram Al-Sheikh, Deputy Executive Director of "Radix Development" for Real Estate Development, said that the project was designed in France and approved in Cairo and includes a contract with the IEC office, the design, and the creative idea of the project.

Al-sheikh added that the IEC office in France will participate in the future stages to ensure the highest quality of the project according to the agreement and design the coordination of the external site surrounding the building, pointing out that the company is seeking to provide a distinguished real estate product in the Administrative Capital that will be a real addition to the market.

Al-Sheikh pointed out that designing a smart building inside a smart city, such as the Administrative Capital in Cairo, requires professional expertise in the field of building management systems. Those smart systems used in this project are responsible for reducing energy consumption, and they also help raise the efficiency of the project's energy systems.

For his part, Eng. Faisal Abu Al-Azm, CEO of the IEC Office for Engineering Consultancy, expressed his happiness in contracting with the "Radix Development" company for real estate development in its first projects in the New Administrative Capital, pointing out that the company requested that the project bedistinct compared to the rest of the projects in the Downtown areaand to take into account the internal details of the division of the project and the distribution of units and spaces in proportion to the target customer segment, especially those who wish to invest.

Abu Al-Azm explained that the detailed plan for the project, which includes various activities, has been prepared, and innovative engineering solutions have been adopted to benefit from the total area of the project, divide it and exploit all the internal spaces in addition to developing innovative engineering solutions to provide a different real estate product.

IEC participated in the supervision and design of more than 1000 projects with 20 years of experience in the market. The office was established in 1999 and a branch of the company was recently opened in Grenoble, France, with a French-Egyptian partner, Architect Mahmoud El-Ghawabi.

The office won many awards in the field of engineering consultancy, planning, and designs from government and private agencies, in addition to having previous work in the Arab countries, and the office designed and supervised several administrative and commercial projects in the eastern and western regions of Cairo.