City Edge signs a contract with Counsel Masters to manage and operate the first phase of 1.8 km long

Cairo, Egypt:– In accordance with the vision of the government of Egypt to rehabilitate and upgrade certain sections of Old Cairo, City Edge Development - as a representative of the New Urban Communities Authority, the project owner - signed a contract with Counsel Masters to manage and operate the commercial part of the “Mamshah Ahl Masr” for a period of 9 years.

With an aim to provide the citizens with a unique experience, the Minister of Housing initiated a strategy that is based on thoughtful planning to promote tourism and entertaining activities as well as the accomplish the optimal use of the Nile Corniche.

The promenade will crown the beauty of the eastern banks of the Nile, and enrich its remarkable history with an integrated project that begins with the completion of the first phase of 1.8 km overlooking the hotels and hospitality zone, which is located between Imbaba Bridge and 15 May Bridge.

The contract between City Edge Development and Council Masters comprises the management of the promenade, including commercial, touristic, recreational and service activities such as restaurants, cafeterias, shops, garages, and seating areas for receiving the promenade’s visitors. The project also encompasses many other activities such as entertainment theatre, parking areas, river marina and an open service area. In addition, a group of advertising spaces along the promenade on both levels and screens will be installed to display the most important national and sports events so that the project can host recreational, national, and international events throughout the year.

The project is a public promenade overlooking the Nile River and open to the public within the state's plan to redevelop the city of Cairo and create large public spaces for entertainment, tourism, and shopping. It contains an upper walkway with a width of 4.5 meters, and a lower one with a width of 6.5 meters and a total area of ​​7,066 square meters. The promenade will encompass 90 shops, restaurants and cafeterias, an open theater with an area of ​​434 square meters, with 3 stands with a total length of 315 square meters and a capacity for 1,240 visitors, as well as 300 kiosks for foreign, Arabian services and commercial activities, and 3 toilets.

Ashraf Salman, Chairman of City Edge Development stated: “The promenade will achieve an important social dimension in accordance with the directions of the state under the leadership of H.E. President Abdel Fattah El-Sisi towards comprehensive development, and the realization of Egypt's Vision 2030. This vision is currently reflected on the new slogan “The New Republic”, with regard to the plans of the Ministry of Housing and Urban Communities to achieve the national goal of the project as a touristic promenade overlooking the Nile River, and what it aims at creating a major touristic, entertainment and investment destination for Egyptians.”

Dr. Mohamed ElMikawi, CEO of City Edge Development said: “The contract with Counsel Masters is part of the New Urban Communities Authority's plan to develop Cairo. We had a general tendency to assign the project management and operation to a major company such as Counsel Masters, which will implement the latest international and touristic standards to provide a new experience for Egyptians and foreigners, through utilizing major local and international brands and the establishment of recreational activities and cultural and seasonal events.”

George Mitri, Chairman of Counsel Masters said: “This collaboration is a new step that supports the company's great expertise in managing this type of projects. Especially since Mamshah Ahl Masr allows the company to showcase its multiple activities and services in managing all tourism, recreational and commercial aspects. The promenade will become one of the most important touristic attractions in Cairo, where the historical area is being developed, by providing new destinations that show the eternal beauty of the Nile. Furthermore, the company has technological systems that provide a good experience for walk-goers in a way that maximizes our investments in this field. We are keen on applying the international standards in management, operation, security, safety and public health to achieve the national goal of the project so that all Egyptians can enjoy a unique experience on the banks of the Nile.”

Counsel Masters has extensive experience as one of the major companies operating in the field of counseling and services for commercial agencies, hotel management, tourism and commercial projects, marketing of commercial franchises and marketing investment opportunities in commercial projects in Egypt and abroad. The company prepares expansion plans for these brands by granting franchise rights or opening new branches. Furthermore, the company has previous work, which allows it to prepare plans for establishment, operational, ownership and leasing of touristic facilities, commercial centers and malls with the best innovative systems and global technology in terms of operation and maximizing profitability. In addition to the establishment and organization of exhibitions, economic conferences and events, especially since the company has the exclusive marketing right for more than 65 local brands and more than 80 international brands, with branches and representative offices in many Arab countries.

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About City Edge Real Estate Development:

City Edge Developments is Egypt’s National leading real estate developer and development manager. A company launched in 2017 between New Urban Communities Authority (NUCA) - Ministry of Housing and the Housing & Development Bank (HDBK.CA) with a Capital of EGP 2 Billion. The company develops and manages the development of premium real estate projects all over Egypt that spans across many asset classes that includes, but is not limited to, residential, hospitality, retail, office and education. Awarded “the Fastest Growing Real Estate Developer in Egypt”, City Edge Developments has successfully launched over 10 projects in various parts of the country since its launch.

For more information, please visit our website www.cityedgedevelopments.com  

About Counsel Masters:

Counsel Masters for Business Consulting and management of hotels, touristic and commercial projects, marketing and retail is one of the leading operating companies in these sectors of consulting and providing a clear business model of leasing services, ambitious vision and impressive growth plans to meet the needs and requirements of a diverse base of customers in operating and managing companies through elite of prominent business experts and veteran leaders in their respective fields.

Counsel Masters has exclusive marketing rights for more than 65 local brands and more than 80 international brands, the company has representative offices in several Arab and foreign countries, as well as business partners and affiliates in these countries.

© Press Release 2021