The Ark Development signs an agreement with Savills to Manage and Consult on the Design and operations of the Business District
By Eman Hamed
The Ark Development: one of the top developers aiming to specialize in building high-end communities in the Egyptian real estate market has signed an agreement with Savills, one of the world’s leading real estate consultancies, to provide property management and strategic consultancy services for the Ark’s new business district. The signing ceremony was attended by Osama Aboalam, CEO of The Ark Development, and Catesby Langer-Paget, Head of Savills Egypt.
The project spans over 92 Feddans, located at the heart of New Cairo, in a unique strategic location at the intersection of South 90th & Mohamed Naguib axis. The project includes a vast business district, high end retail, hotels, a cultural and entertainment center, an urban park, and a residential neighborhood.
Mr. Osama Aboualam, CEO of The Ark Development Company, expressed his pleasure at signing a cooperation agreement with Savills, one of the largest companies specialized in real estate consulting services, whose expertise is reflected through our Business District in New Cairo.
He said: “We aim at The Ark Development to leave a strong footprint in the Egyptian real estate sector, so we were keen to cooperate with Savills, which has an extensive experience in the field of real estate consultancy. This agreement comes in line with our ambitious strategy pertinent to establishing specialized partnerships with the best and largest local and international companies taking into account the latest technological and the highest international standards.
Head of Savills Egypt, Catesby Langer-Paget also commented: “It is a pleasure to collaborate with The Ark Development on such an ambitious and prestigious project. We are honored to have been chosen to consult on the design, on the building’s systems and how to incorporate operations smoothly from the construction phase to provide seamless consumer experience and futuristic operational management. Mr. Osama has put together one of the best teams in the Egyptian real estate market and we have every confidence that this will be the market leading mixed-use commercial development in East Cairo once it is completed. “
Corina Stamate, Head of Property Management at Savills Egypt, added, “We are delighted to have the opportunity to consult on The Ark Business District’s building systems and ESG positioning to offer a unique experience and to put a focus on the wellbeing of both occupiers and consumers. Savills will provide property management consultancy to create value-added for the asset, the environment, and its target audience.
ESG theme is of major importance in the life cycle of a building, determining the way the asset will perform from an operational perspective and how systems interlink providing efficient resources and utilities management. The Ark embraces a new and bold operational approach that will differentiate the project by incorporating all high-end technologies.”
The Ark Development was established to start operations in the Egyptian Market, with investment support from several economic entities and institutions. The Ark Development has great and varied experiences in many investment and development fields including real estate and construction sector, especially since the founding groups of the company including Al Organi Group, Safi Group, Arabella Group, and Abdelmaksoud Group