Managing Director of CCR Developments Remon Taghian said that the company has carried out an administrative restructuring with the aim of co-operating with successful leaders in a number of sectors within the company to implement its expansion plan for the coming period. The restructuring process includes the appointment of Remon Taghian as Managing Director, and Said Gebily as Chief Commercial Officer.
Taghian added that the company started its business with a shareholder structure that includes a number of investors with varying partnership rates. Recently the largest portion of the company’s shares was acquired by businessman Adel Zarif, which was followed by an administrative re-structuring of the company in order to develop a new ambitious and expansion strategy for the coming period. He pointed out that the company has begun concrete works in its Frontgate project in New Administrative Capital (NAC).
Spanning over 4,055 sqm, Frontgate comprises commercial and administrative units besides serviced apartments, as well as, consists of eight floors, he noted, elaborated that it is planned to start handing over the project in September 2023 and to complete the delivery of the entire project in early 2024.
He further noted that CCR Developments has managed to sell out 50% of the project; furthermore, the company is marketing the rest during the project completion period.
For his part, Chief Commercial Officer Said Gebily said that CCR Developments has a plan to invest LE2b in the NAC and New Alamein in the coming period, added that the company is studying some investment opportunities to choose plots of land to carry out its investment plan.
