Egypt’s MRB is currently executing facility management contracts worth 3 billion Egyptian pounds ($160 million) covering 50 commercial and residential projects across the country.

MRB’s Founder and CEO Mohamed Rashed said 35 projects are located in the New Administrative Capital while the remaining 15 are distributed across various governorates.

The average duration of the contracts is four years, he said.

Meanwhile, MRB has signed a memorandum of understanding with Dubai-based FACIL, a provider of luxury residential and hospitality management services, to jointly offer their services to malls, hotels and resorts in Egypt.

The two companies will target early-stage involvement in mall and hospitality projects in Egypt to optimise building and systems operations and provide customer satisfaction.

FACIL representative Julie Shields said the company’s top hospitality clients in the UAE include Hilton, Radisson and Jumeirah group.

“I'm very delighted to repeat same experience in Egypt," she said, adding that she was impressed by the growth of Egypt’s real estate and hospitality sectors.

(1 US Dollar = 18.80 Egyptian Pounds)

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)