Zodiac Development, one of the leading real estate development companies, has announced that it has contracted with INMA Property Management to manage and operate Mizar project, the company’s first project in the New Administrative Capital (NAC), and to provide consultancy and prepare market analyzes on the NAC’s Downtown area. In addition to, identifying and pricing required properties and facilities and put in place appropriate marketing mechanisms.
The contract was signed by Hassan Hassanein, Chairman of Zodiac Development, and Sherif Noaman, Vice Chairman of INMA.
Zodiac Chairman Hassan Hassanein said that the contract states that INMA will manage and operate the project professionally and efficiently to increase its investment returns to serve customers and the company.
Hassanein added that the contract comes within the framework of the company’s plans and strategy to expand in the Egyptian market, in line with the state’s development plans in all fields, especially real estate development.
He noted that the Mizar project is the company’s first project in the New Capital, which is located in the most distinguished area in the downtown area. The project spans over 2,650 sqm with built-up area reaches 16,500 sqm and comprises commercial, administrative, medical properties, as well as it consists of ground and 12 floors, with investments amounting to EGP 400m.
For his part, Sherif Noaman, vice chairman of INMA Property Management stated, “I would like to express our happiness to cooperate with Zodiac Development and thank them for choosing INMA. According to the contract, we will manage the Mizar tower in the New Capital and our main role is to manage long-term relationships between Zodiac and its valued customers in terms of providing a distinguished level of service that reflects the extent of understanding for customers’ needs and requests.”
Zodiac Development CCO Ahmed Fares said that Zodiac always aims to cooperate and contract with major local and international companies to enhance their investments in the market and launch a distinctive real estate product that keeps pace with rapid development that is being initiated in the New Capital and meets aspirations of the company and its customers.
Meanwhile, the company’s Marketing Director Mohamed Abdel Hamid said that Zodiac knocked on the doors of investment in the New Administrative Capital with a new and unconventional approach to face the great competition in the capital market, and to continue its successes achieved over 20 years in commercial and administrative projects.
Abdel Hamid stressed that the company offers its customers with various payment plans in proportion to their different needs and capabilities, starting from 10 per cent down payment and payment plan up to 9 years.
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