Saudi Egyptian developer Tamayoz Real Estate Company said on Sunday that it has awarded design and consultancy contracts for its 350-million Egyptian pound ($22 million) Business Hub 5 commercial project in the New Administrative Capital (NAC). 

The company said it has appointed Dara Engineering Office to develop the architectural design; Itqan Company for financial and marketing consultancy; Healthy Care Company to manage the medical activity, and MRP for Project Management to develop a marketing and operational strategy for the project.  

The company’s managing director Ahmed El-Shazly said Tamayoz is the first company in the NAC to contract with a medical company to manage the medical activity in the project.  

Busines Hub 5 is located in Downtown area, and will offer spaces for medical facilities, offices, shops, and restaurants over an area of ​​2,600 square metres. 

Mohamed Sorour, Head of Commercial Sector said Business Hub 5 is the company’s second project in the NAC after Ivory Plaza.  

“Our investments in the New Capital amount to about one billion pounds ($64 million) at present,” he disclosed. 

(1 US Dollar = 15.67 Egyptian Pounds)

(Writing by Marwa Abo Almajd; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021