Zodiac Development, one of the leading companies in real estate development, announced that it has contracted with a number of major consulting companies in Egyptian market to manage, carry out and supervise engineering and architectural designs of Mizar project, the company's first project in the New Administrative Capital (NAC).
In press conference, the company contracted with YBA Architects headed by Yasser Al Beltagy to take over tasks of supervising the implementation of all engineering and architectural designs for Mizar project to provide a distinguished real estate product to be developed according to the highest local and international standards.
Furthermore, Zodiac has contracted with INMA, one of Genena Group’s companies which is one of the Egyptian pioneers in the world of business and real estate industry, and it has great experience in managing and operating mixed-use projects.
Zodiac Chairman Hassan Hassanein said that the company is seeking to contract with a number of successful partners who have experience in Egyptian market, to comply with the company’s plans to expand in the NAC and provide products with highest quality.
Hassanein added that cooperation with the YBA Architects gives a great strength and confidence in overcoming any problems that the designs may face, developing and completing all phases of the project according to timeline and engineering and architectural designs.
Zodiac has 20 years of experience in commercial and administrative properties in Cairo downtown. Moreover, the company is working to transfer all its experiences to the New Capital by launching Mizar project, its first project in the NAC’s Downtown area.
Mizar is located on 2,650 sqm with16,500 sqm built up area that comprises a commercial, administrative, medical units. The 13-storey project is being developed with investments amounting to EGP 400m, he explained.
He elaborated that the company's total investment in the market amounted to EGP 5bn and plans to increase it in the first quarter of 2022.
“The company has a distinguished business record in the Egyptian market, especially in downtown area through the implementation and development of residential towers, commercial and administrative malls, namely Tseppas MG Mall. As well as, the development and operation of Sednawy mall with an investment cost worth EGP 80m,” Hassanien disclosed. “Moreover, the company took care of preserving the historical character of the mall during the renovation process, as the building was designed by the designer of the Eiffel Tower in Paris.”
For his part, Yasser Al Beltagy, chairman of YBA Architects, praised the cooperation with Zodiac company, stressed that the cooperation between the two sides aims to develop the project at the highest levels of quality in designs and construction, and to provide an unconventional real estate product capable of facing fierce competition in the New Capital.
Al Beltagy added that YBA has successfully implemented and managed more than 1,200 projects over 25 years, ranging from residential, educational, cultural, hotels and resorts, in addition to industrial, religious and commercial projects in Egypt, the Middle East and Europe.
Meanwhile, Zodiac’s CCO Ahmed Fares said that the company always seeks to cooperate with major specialized companies, led by INMA that has a great experience in mixed-use projects including projects in New Cairo and Sheikh Zayed under the name “Trivium Mall”, in addition to a large specialized hospital in Nasr City. The total investments of these projects are estimated at EGP 4.5bn.
Fares pointed out that the company is heading to expand and direct new investments in fourth-generation cities, in line with the state's plans for urban development, whether in the New Capital, New Alamein and New Cairo, with commercial, administrative, medical and residential projects.
Mizar project is situated in unique location in the heart of the New Capital, near the gold market, the Mosque of Egypt and the government district, the company’s sales director Adham Hamad stated.
Hamad noted that the project represents a golden investment opportunity for those wishing to invest in property, explained that Zodiac offers various payment systems to customers suit their different needs and capabilities, starting from 10% down payment and payment plan up to 8 years.
© Press Release 2021