K Developments announced the signing of a cooperation agreement with NAMAA EXP, which will serve as the operational consultant for Palencia Plaza in Al Shorouk City.
The agreement aligns with the company’s strategy of partnering with specialized experts across all stages of development, from planning and design through operation.
The agreement was signed by Omar Al Fayoumy, Chairman of K Developments, and Karim Ghoneim, CEO of NAMAA EXP.
Ahmed Al Fayoumy, CEO of K Developments, said that the real estate market is witnessing a significant evolution in evaluation standards, with operational excellence and management quality becoming essential factors in preserving the investment value of real estate assets and generating sustainable long-term returns.
Al Fayoumy added that K Developments adopts a philosophy centered on developing projects that are operationally efficient from the earliest stages. Accordingly, the company engaged NAMAA EXP at an early phase of the project to establish a comprehensive operational framework aligned with international best practices.
He explained that NAMAA EXP was selected based on its specialized expertise and proven track record in managing and operating commercial centers and real estate assets, enabling it to develop a comprehensive operational vision that enhances the project’s efficiency and attractiveness to investors, brands, and entrepreneurs.
He noted that NAMAA EXP’s role extends beyond traditional operational consultancy to include contributing to the project’s commercial identity and developing a comprehensive operational and marketing strategy. This scope also includes reviewing the project’s architectural designs in collaboration with YBA and developing a carefully planned tenant mix strategy that ensures synergy among the project’s various components and strengthens its commercial appeal.
He further explained that the scope of work includes integrating operational and technical requirements, Mechanical, Electrical, and Plumbing (MEP) systems, and all related technical considerations from the earliest design and planning stages. This approach ensures that the project’s design is fully aligned with operational requirements, minimizes potential operational challenges in the future, and enhances the long-term efficiency of asset management and operations.
Al Fayoumy emphasized that appointing a specialized operational consultant from the early stages reflects the company’s commitment to implementing the highest standards of real estate asset management and ensuring the project’s long-term success and sustainability.
He added that the partnership with NAMAA EXP will contribute to establishing a clear roadmap for the project’s post-opening management. This roadmap will cover facility and service operations, commercial activity management, asset quality maintenance, and occupancy optimization, ultimately enhancing the project’s market value and maximizing returns for investors and stakeholders.
He explained that Palencia Plaza is one of the company’s strategic developments in Al Shorouk City, with total investments of EGP 1.5 billion. The project is being developed on a 6,000-square-meter plot in a prime location directly on Al-Horeya Axis, close to major roads, key transportation routes, and leading educational, medical, and sports facilities.
Al Fayoumy added that the project combines commercial, administrative, and medical components within an integrated mixed-use development, benefiting from the growing population density of Al Shorouk City and the substantial customer base of the Palencia residential community. These factors are expected to support the project’s operational and commercial success from day one of operation.
