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Cairo: Telecom Egypt, first integrated communication and information technology services provider; signed a cooperation protocol with MARAKEZ for Real Estate Investment, one of the largest mixed-use developers in Egypt, to provide integrated communication services and connect telecommunications networks to all its projects with the highest internet speed. The agreement was signed by Eng. Adel Hamed, Managing Director and Chief Executive Officer of Telecom Egypt and Eng. Basil Ramzy, Chief Executive Officer of MARAKEZ for Real Estate Investment.
Under this protocol, Telecom Egypt will provide all MARAKEZ-owned projects, including District Five Residences, Mindhaus and D5M in New Katameya, with cutting-edge telecommunication networks and integrated communication services with the latest advanced technologies by connecting optical Fiber To The Home cables to the projects (FTTH). Services will include fixed landline telephone services, the highest-speed internet in Egypt, IPTV and other advanced telecommunications services. This protocol also includes AEON, MARAKEZ first residential project in 6th October, which includes the first luxurious high-rise towers in new urban communities as well as the recently opened mall: Town Center.
“We are thrilled to sign this protocol with MARAKEZ to provide it with the latest integrated telecom services for its real estate projects, capitalizing on our advanced infrastructure and technical expertise,” said Engineer Adel Hamed, Managing Director and CEO of Telecom Egypt. “As the first fully integrated operator in Egypt, Telecom Egypt will continue to provide such advanced services for real estate projects, in line with the latest global ICT developments.”
“We are pleased to sign this protocol with one of largest telecommunications service providers in Egypt to ensure that our homeowners, visitors and customers receive the best level of telecommunication services that keep pace with their evolving needs.” said Eng. Basil Ramzy, CEO of MARAKEZ. “We look forward to future cooperation to provide the latest advancements in the field of communications and information technology for our homeowners.”
Mohamed Abu Taleb, Executive Vice President for Commercial Affairs at Telecom Egypt, said, "The cooperation with MARAKEZ affirms the great confidence that Telecom Egypt has in real estate development companies in Egypt. In that regard, we are very pleased to provide them with premium quality telecom services to keep pace with the evolving needs of customers.”
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About MARAKEZ for Real Estate Investment
MARAKEZ is a subsidiary of the Saudi Arabian conglomerate and largest mall developer and operator in the region – The Fawaz AlHokair Group. MARAKEZ is one of the largest mixed-use developers in Egypt with a portfolio of projects with one of the highest recurring revenue profiles in the country. Anchored by the flagship Mall of Arabia in West Cairo, MARAKEZ projects include the first residential towers in 6thOctober, AEON, as well as D5 Mall, Mindhaus and District Five residential project in New Katameya. In addition to the opening of Mall of Tanta in 2019, Town Center in 2020 and the upcoming opening of Mall of Mansoura.
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