Makadi Heights Signs with Savills Egypt for Commercial Development and Consulting Services
Cairo, Egypt 6th of June, 2023: Makadi Heights, one of Orascom Development’s fully integrated towns in the Red Sea, signed a cooperation protocol with Savills Egypt, one of the world’s leading real estate consultancies, to provide consultancy services for its commercial area. Through this cooperation protocol, Savills Egypt offers its expertise and contributes to Makadi Heights' commercial area strategy development.
Makadi Heights is strategically boosting its infrastructure and facilities with this new cooperation agreement. The agreement was signed by Tamer Dewidar, CEO of Makadi Heights, O West and Byoum, and Catesby Langer Paget, Head of Savills Egypt, in the presence of senior management from both companies.
According to this agreement, Savills aims to provide a comprehensive vision for Makadi Heights’ commercial area by conducting a feasibility study and market analysis, which will include an overview and evaluation of the real estate market in terms of commercial, entertainment, administrative, and hospitality areas, in addition to providing modern services that enhance the quality of life offered by the town.
The consultancy agreement includes the commercial area spread overan area of 278,750 square meters, split over three zones as follows: the commercial strip, the commercial area for external visitors, and the downtown area, alongside proposing a time-stage strategy, with the aim of ensuring strategic planning and operations during projects launches.
Tamer Dewidar, CEO of Makadi Heights, O West, and Byoum said: “Our cooperation with Savills represents a significant turning point in Makadi Heights’ expansion plan. With the help of one of the world's top real estate consultancies, we are developing a special commercial area and delivering world-class services to town residents and visitors alike. Makadi Heights comes as the ultimate family destination in the Red Sea and epitomizes the company's strategy to provide exceptional customer service by cooperating with top-notch service providers to ensure the delivery of the best integrated services meeting our customers’ needs and creating their best moments in our town.”
Catesby Langer Paget, Head of Savills Egypt, stated, “We’re excited to broaden our offerings in the Red Sea Governorate by cooperating with one of Orascom Development's fully integrated towns. Our goal is to enhance the commercial areas for locals and tourists alike, and ensure an unparalleled experience.”
Paget added, "Founded in Britain in 1855, Savills extends its success through extensive expertise and rich history, and we have had success stories in the Middle East for more than 40 years. Since our operations in the Egyptian market in 2019, we have been able to sustain a large portfolio of leading clients and projects."
It is worth mentioning that Makadi Heights is located in Makadi Bay in the Red Sea Governorate, on a total area of 3.75 million square meters, 15 minutes away from Hurghada International Airport, 20 minutes away from Hurghada’s city center. Makadi Heights is built at an elevation of 78 meters above sea level, at the highest point in Makadi Bay offering exceptional panoramic views of the Red Sea. In addition, the town’s infrastructure is equipped with the latest modern facilities to provide an integrated life, and the town’s main design involves unique urban planning, concerned with achieving compatibility between the environment and the available resources to enhance urban consistency and balance between buildings and green spaces. Makadi Heights continues to achieve real estate sales on the rise since the second half of 2022, in which net real estate sales amounted to EGP 490.3 million in the first quarter of 2023, representing an increase of 232.9%.
Makadi Heights, one of Orascom development’s integrated towns, is located in Makadi Bay in the Red Sea Governorate, on a total area of 3.75 million square meters, 15 minutes away from Hurghada International Airport, 20 minutes away from Hurghada City center. The town is built at an elevation of 78 meters above sea level, at the highest point in Makadi Bay offering exceptional panoramic views of the Red Sea, with more than 85 percent of its total acreage given to green spaces, water features, and open spaces. . Makadi Heights includes various tennis courts, football fields, skating rinks, and others. In addition, sports courts are designed according to international standards, providing its customers with a unique experience and allowing them to give their best. Additionally, the town offers different types of residential units, a nursery planned to be open in 2023, and commercial area.
Orascom Development Holding is a leading international developer specializing in vibrant, integrated communities in Europe, the Middle East, and North Africa. For more than 30 years, Orascom Development has been a pioneer in creating destinations where people are inspired to live, work, and play with passion and purpose.
Orascom Development owns a land bank of more than 100 million square meters with nearly 40% under development or developed into thriving communities in Egypt (El Gouna, Makadi Heights, O West, Taba Heights, and Byoum), in the GCC (The Cove in the UAE and Jebel Sifah and Hawana Salalah in Oman), and in Europe (Andermatt Swiss Alps in Switzerland, Luštica Bay in Montenegro and West Carclaze Garden Village in the UK). Orascom Development’s hospitality portfolio includes 33 premium and luxury hotels with more than 7,000 rooms across Europe, the Middle East, and North Africa. ODH shares are listed on the SIX Swiss Exchange.
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, Royal Park and North Square.