The real estate developer, Babylon Urban Development, has signed strategic partnership contracts worth EGP 1bn with a number of companies to construct, design and manage its two office projects in the New Administrative Capital (NAC).
The company’s CEO, Hossam Farag, said that a contract has been signed with ZODIAC ADC, which specialises in architectural designs and finishing works. Also party to the contract is architect Abdullah Khalil, who will be in charge of preparing the engineering designs for the two projects, and I_CON smart solutions.
The latter company is one of the most important electromechanical companies executing the New Alamein Towers, and has contracted with Diar Consulting Group as a company specialised in project management.
Farag added that the first project is located on an area of 2,322 sqm, and is comprised of 200 units, whilst the second project spans over 1,250 sqm and is comprised of 70 units.
In press conference held on Monday, Farag said that a contract has been signed with Premium Business, who will market the Senator and Heritage projects in the UK and in European markets.
Premium Business was assigned to search for companies to manage the two projects, he said.
Farag added that Babylon is in negotiations with some international companies to manage and operate projects in a way that achieves the highest return and maximum benefit to clients.