Menassat launches “Eclipse” a business space in New Cairo
The company’s project investments are expected to reach EGP 900 million during 2022
By Eman Hamed
Menassat Developments launched its latest project, Eclipse, in the heart of New Cairo. Spanning 4,360 square meters on North Teseen Street, Eclipse is located next to the Administrative Control Authority, the Banks District, and the main roads and landmarks of New Cairo, with total investments amounting to approximately EGP 600 million.
“In less than ten months, we introduced two new projects to the Egyptian real estate market: Podia and Eclipse. Podia Tower is a commercial, medical, and administrative tower in the New Administrative Capital, and its sales reached nearly 40% in only nine months. Today, we’re launching our latest project, Eclipse, which is an integrated retail and business complex. This year, our investments reached approximately EGP 900 million Egyptian,” said Tarek Bahaa, CEO of Menassat Developments.
Bahaa stressed that Menassat Developments aims to offer integrated and sustainable urban communities, developed according to the highest standards, with a high investment value for owners. He explained that the company is working on obtaining the Fitwel certification, the world’s leading certification system committed to building health for all, and LEED, the most widely used green building rating system in the world.
Bahaa highlighted that Egypt’s real estate market is booming, especially commercial and administrative units – according to recent market research. Investors and business owners are currently looking to expand and be present in the most strategic places, such as the location of Menassat Developments’ latest project.
“Eclipse offers an ideal combination of urban space, basic facilities, and distinctive design in a well-established business complex. The project’s design is inspired by the latest futuristic building standards that make it a spacious recreational and practical destination. The administrative spaces are set to suit different business sectors. The retail spaces are set among a mid-rise business complex offering an ultimate shopping experience with a unique and outstanding product mix including exclusive shops, restaurants, cafes and leisure areas,” said Moataz Shalaby, CCO of Menassat Developments.
“The project includes nearly 160 units ranging from 40 square meters to 120 square meters, to ensure spaciousness and luxury. Our partners are Eltizam Asset Management, a technology-driven investment company with significant investments in facilities management, real estate management, and energy management, and LDP+ Partners; the Architecture and Engineering Consultant, an Egyptian joint venture whose most prominent projects are Stadium Plaza in Jeddah, Al Rashed Tower in Kuwait, and Jizan Icon Tower in Saudi Arabia,” added Shalaby.
“Despite being new to the market, Menassat Developments succeeded in gaining clients’ trust due to its sincere commitment. We have a hardworking and experienced team that strongly believes in developing this sector, in line with the aspirations and requests of future clients,” noted Shalaby.