City Edge Developments Signs Savills to Lease and Manage  North Square Mall  in New Alamein City

Leading Egyptian real estate company, City Edge Developments, and Savills, one of the world's leading property consultancies, signed an exclusive leasing, property management and marketing agreement for North Square. The retail-led project is located in the heart of New ِAlamein City, covers a total area of 164,000 m2, and is set for operation in summer 2022

As the North Coast’s first entertainment hub overlooking the Mediterranean, with enhanced accessibility to and from the corniche, North Square Mall exhibits 86,000 m2 to be leased, features retail, cultural, F&B options, as well as a parking area with 3200 slots, ultimately offering a comprehensive experience for New Alamein and the entire North Coast

 

Eng. Abdel Moteleb Mamdouh, Vice Chairman of NUCA, said: “New Alamein is set to host 2 million residents by 2030 and is projected to start welcoming residents this year, this step is in line with the government’s plan towards adding value and making construction progress across fourth generation cities in Egypt with the aim of making the most of prime locations, as well as the elements that qualify each to become a touristic and investment destination”

New Alamein possesses all the components necessary to create and sustain different lifestyles all year round; it provides residents with integrated solutions including administrative, medical, 5-star hotel experiences, as well as educational services, featuring Alamein International University, and a new campus for the Arab Academy for Science, Technology & Maritime Transport, besides different elements that aim at attracting agricultural and industrial investments

Describing the driving force behind such a partnership, Mohamed El Dahan, CEO of City Edge Developments said: “Today, and after completing the construction phase, we are bringing a unique complex featuring the biggest international and local experiences in shopping and F&B to the North Coast. Over the past couple of years, we have seen the success which Savills brought to other key real estate players and are thrilled to be continuing a long-term collaboration with the team”

A provider of a wide range of consulting services, as well as marketing and strategic advice, Savills works with real estate developers towards achieving the desired investment objectives. Head of Savills Egypt, Catesby Langer-Paget said: “New Alamein is very attractive to developers and investors, and this agreement with City Edge is a great opportunity thanks to City Edge’s diverse portfolio of products taking place across the country"

City Edge Developments is Egypt’s National leading real estate developer and development manager. The company was established by New Urban Communities Authority (NUCA) and Housing and Development Bank (HDB). City Edge Developments develops and manages the development of high-end real estate projects. In addition to a diversified land bank for third–party accounts containing indirect real estate holdings under their management that span a range of investments across all asset classes including residential, hospitality, retail, office and education

Savills is a global real estate services provider listed on the London Stock Exchange. Savills has an international network of over 650 offices and associates and circa 39,000 staff throughout the Americas, the UK, Continental Europe, Asia Pacific, Africa and the Middle East, offering a broad range of specialist advisory, management and transactional services to clients all over the world. With more than 43 years’ experience, Savills now has 7 offices in the MENA region, including Egypt

 Since opening its offices in 2019, Savills Egypt has more than quadrupled in size, with over 100 staff members to date. Savills ’main service lines include property management, strategic consulting, project management, leasing and sales, marketing and corporate services. Savills is consulting for the market’s largest developers, across multiple property types and currently manages several properties across the country, including Arkan Plaza, One Zamalek, Mazar and Royal Park