Capriole Group is set to inject EGP15bn in the Egyptian market in 5 years
In view of its plan for expanding in the Egyptian market and executing groundbreaking projects, Capriole Group seeks to inject EGP15bn investments in the Egyptian market, in the New Administrative Capital in particular, in the span of the five years.
The New Capital will see the promotion of fully-constructed tower
Capriole Group, with up to 30-year experience, is one of the Egyptian companies that managed to build a strong and distinguished brand outside Egypt, particularly in the United Arab Emirates, where it executed works worth billions of Dirhams, namely skyscrapers, hotels, plants and educational institutions.
Mohamed Mofeed: We opted to promote New Capital's LINX upon kicking-off constructions
On his part, chairperson of Capriole Group Eng. Mohamed Mofeed said that the company picked this particular timing to come back and start to invest in the Egyptian market after it spent up to 30 years working abroad, owing to its trust in the current political leadership that executed huge developmental projects, the New Administrative Capital to mention a few, and heeded the importance of creating investor-friendly climate.
The way governmental bodies are handling investors has changed drastically, as investors’ demands and problems are met with with constant and prompt responses, he asserted.
" The company is keen to transfer its expertise in renovation and reconstruction to the Egyptian market, through rolling out remarkable products compliant with highest reconstruction and technology standards and capable of adding value to the market." In wake of its success in carrying out prestigious service projects in areas of education and industry, the company opted to enter the Egyptian market to replicate that success and to enjoy the latter's growing demand for services.
Chairperson of Capriole Group referred to the launch of two subsidiaries, one for running commercial and administrative facilities and the other for contracting. As regards its existing investments in the Egyptian market, Capriole Group is executing two projects in the New Administrative Capital, LINX complex and a 12,000sqm school, he added.
LINX is a commercial, administrative and medical complex consisting of 12 floors with 2 basements. The first basement and floor encompass 51 commercial units; the 2-9 floors include 280 administrative and medical units at investments worth EGP1,5 billion, he elaborated. The company has finalized all procedures, including the issuance of ministerial decree and licenses. Constructions kicked-off and the project is due to be marketed next August, he explained.
" The company was keen to market the project only after a large chunk of constructions is completed so as its credibility can take root in the market, as delivery is scheduled to start in the span of 3 years."
Capriole Group awarded the designing and engineering consultancy to Abu Dhabi-based Architecture & Planning Group (APG) which has 30-year experience and carried out architectural and engineering landmarks, he noted. Capriole Group signed a contract with MREC to run the commercial section at the company and to promote LINX.
Mahmoud Abd Al Halim: We are keen to sign agreements with world-class brands and international companies
On his part, chairperson of MREC Mahmoud Abd Al Halim said that LINX complex features a remarkable location in the New Administrative Capital, MU23 commercial district. The complex, spanning 7635m area, lies betwixt R2 and R3 districts and is situated in close proximity to Embassies Neighborhood and the Central Business District. Buildings and garages spread over 22,500m and 15,200m respectively. The administrative units occupies a whole floor ranging from 48m to 2300m spaces. The commercial units and clinics are with 27m and 54m spaces respectively.
Fully-finished and air-conditioned administrative units and clinics will be handed over. "The company is keen to enter into agreements with top brands and international companies, as units are executed using world-class codes and specifications. LINX complex features smart and creative designs, as Capriole Group seeks to establish a modern community in keeping with top-notch atmosphere, he asserted.
With the aim of reaching full utilization of spaces, LINX enjoys highest standards of services that are supplied with full security system, CCTV, BMU, FA, BM, a system for recycling garbage, solar cells and 8 elevators. As regards the marketing plan, Mahmoud Abd El Halim said that the entire project will be fully promoted in the span of two years and 40% of the project will be marketed this year.
The marketing plan encompasses several and online-inclusive mechanisms, he noted, adding that the project is catering to the market needs. Last year, Capriole Group launched the first branch of New Cairo's Aspire Schools with British curriculum in which Capriole injected investments worth EGP1bn.
Aspire is one example of information technology-based smart schools. The school adopts the latest methods fostering the educational process, honing the students' skills and providing mechanisms necessary for facilitating understanding, analyzing and learning in a creative manner.
The school seeks to have graduates who are well qualified for work under the current hiring conditions, capable of upgrading their skills and coping with job requirements, he maintained, noting that Aspire School is establishing a high-end educational system in Egypt.
Established back in 1993, Capriole group is one of the Egyptian entities that expanded in the Arab Gulf States and excelled there owing to its innovative ideas and value-addedness.
