By Hamed Mahmoud
Investwell Egypt – a real estate investment group – has signed a facility and services contract for its two projects “Avalon New Cairo” and “Avalon New Capital” with “LEEDS-TFM”; hereby the latter will be fully managing the first’s facilities and providing services, including in the foremost the maintenance, operation, hygiene and security as well as the QHSE services that include “Quality, Health, Safety and Environment”.
Signing the contract during a press conference were Eng. Moataz Abdel Shafi, Chairman of W ASSETS – the owner of the Avalon Project – and Eng Osama el-Sayed, Designated member of LEEDS-TFM, in the presence of Sherif Abdel Shafi, the Main Founder and Board Chairman of “Investwell”, the commercial advisory for the project.
W ASSETS Chairman Abdel Shafi confirmed that facilities management and maintenance are of paramount importance for operating and sustaining administrative and commercial buildings; hence the preservation of their investment value and the maximisation of building efficiency. The W ASSETS has chosen the LEEDS-TFM due to its extended experience in the total facility management, especially in administrative buildings and banks.
“The “Avalon New Capital” project is two integrated services buildings on an area of 8,400 meters in the Financial District of the New Capital. Each building comprises a ground floor and 7 upper floors with a facade extended to 170 metres”, he said.
With a total investment of LE1.4 billion and a total sales area estimated at 33,000 square metres, the project features a distinguished group of administrative units with various spaces starting from 70 metres, he added.
Investwell Chairman Abdel Shafi announced that his company had completed the necessary market studies before implementing the project to understand the clients’ needs.
He added that work is already on for delivering the projectby June 2023, pointing out that the first phase of the Avalon New Capital project – amounting to 11,000 metres – has been sold in full.
He said that the price per square metre in the Avalon New Capital project is LE30, 000, with payment period of up to 7 years.
“The “Avalon New Cairo” project is a commercial building located in the banks area of the Fifth Settlement, New Cairo,” he said, explaining the project is planned to be launched by the end of this year.
The areas of the New Cairo project will be offered at an average price of LE45, 000 and payment periods of up to 4.5 years, he said. The company aims to sell 20.000 square metres in both projects during 2021.
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