Milestone Developments Company, announced launching its first project in the Egyptian real estate market, named “The CORD Business Complex”, with a total investment of 10 billion pounds, among an ambitious investment plan that the company aims to implement in the Egyptian real estate market.
Milestone Developments Chairman Sheikh Mohamed bin Zaar Al-Ajmi, said that the project will represent a qualitative leap in the field of mixed-use projects in West Cairo, as it is commercial, administrative, medical, service, and entertainment, and was designed to apply the clients’ aspirations, besides the project includes various commercial, administrative, and medical areas.
He added “Today, we are pleased to launch our debut business in Egypt, to put our unique print within international standards and provide a distinctive vision in real estate development field within all its sectors; commercial, hotel, administrative, and residential ones”.
Nagy Ismail, Milestone Developments Vice Chairman, pointed that the company has a strong and distinctive work strategy for its presence in the Egyptian real estate market, through which it will work to provide innovative and exceptional projects that meet the aspirations of clients looking for projects that are implemented according to global standards on Egyptian land.
He noted that it is planned to begin constructions of the project in January 2025, in order to start the first deliveries within 3 years, as the company has a strong implementation plan based on punctuality and delivery with the highest quality standards, especially with the experience the company gained from working in the real estate development sector in Saudi Arabia.
Mohamed Fathi, Milestone Developments CEO, explained that the new project “The CORD Business Complex”, is located on an area of 6 acres in a special place overlooking the 26th of July Corridor and next to Dolphin Mall, besides it is only 5 minutes away from Mall of Arabia and Sheikh Zayed, as the company focuses on choosing the strategic vital location to its projects to ensure the highest operating rate and thus the highest return on investment for clients.
He pointed that the company contracted with a number of major management and consulting companies in real estate market within this project, and these contracts include Eng. Raef Fahmy office, to make the designs for the project, and Ayman Shawqi “Architects” office to design the company’s headquarters and sales headquarters in the site, and Road Map Consultants was chosen for consulting the commercial sector, and KAD company “Kerdani Consulting and Development” to provide a package of services, including preparing the finishing guide and the tenant’s operating guide, managing commercial centers and supervising service providers, in addition to contracting with Acadio Agency as a marketing consultant.
Ahmed Dwidar, Milestone Developments sales director, stated that the area of the administrative units ranges from 27 to 247 square meters, the commercial units start from 25 and reach 1,743 square meters, and the medical units ranges from 28 to 128 square meters, besides the company offers flexible payment systems with a deposit starting from 5% and payment periods up to 6 years, which are systems that suit the clients’ choices in the project.
Abdullah bin Zaar Al-Ajmi, Milestone Developments legal advisor, pointed that the company was founded by Sheikh Zaar bin Ayed Al-Ajmi, Sheikh Mohamed bin Zaar Al-Ajmi, who is a member of Saudi-Egyptian Business Council, and Nagy Ismail, Milestone Vice Chairman, as the company has a long Saudi heritage and a giant group of companies has expanded in the Saudi market since 1979 in real estate development, under the business of “Al Multaqa Real Estate” and “Areej Al-Khaleej” Company, with its 90 branches around the Kingdom specified in car rental, and Mohammad bin Zoaar showrooms in Riyadh, and other companies in various fields.
