Real Mark injects EGP 750 mln in West Mark
Egyptian Real Mark Company on Monday made its debut in the Egyptian market, unveiling its mixed-use complex West Mark in Sixth of October City.
Spanning 13,700 square metres of land and 27,000 square metres of a built-up area within the community of Jedar, West Mark introduces a new line of thought to office and commercial real estate in Egypt, according to a press release.
The project has been jointly developed by Real Mark and Business Mark, a subsidiary vehicle from renowned Saudi company, Al Hussan Group.
The project is set for delivery by 2020 and expected to see EGP 750 million in investments, the firm added.
“In order to supply for the ever-growing demand of office and retail real estate, especially with investors taking an interest in purchasing income-producing commercial assets, the market is overflowing with options that still lack a sense of originality,” Real Mark chairman Mohamed Noweir said.
“As developers, we are encouraged to employ new-to-market techniques in our developments in order to translate our pioneering vision into a unique line of adaptable, cutting-edge residential and mixed-use developments,” he added.
Business Mark had signed a sale contract with Iwan Developments to allow Real Mark to develop, design, construct, promote, sell, and manage properties of all commercial plots within Iwan’ latest project in Sixth of October City, Jedar.
“Premium quality, innovation, and functionality make up the foundation of this project. Apart from the unparalleled location, West Mark takes the lead in introducing the concept of double-height units for the first time to the Egyptian market,” CEO of ERA Commercial Egypt Mohamed Younis said.
The project is comprised of two buildings, A and B, in which the complex features fully finished office spaces ranging between 69 square metres and 121 square metres along with the double-height units of around 800 square metres and above in size.
The complex also has a 10,000 square-metre outdoor area, around 300 underground parking slots, Oscar Market, banks, pharmacies, and an assortment of F&B options.
