By Hamed Mahmoud
“Radix Development”, a real estate development company, one of the Saudi Muwafaq Group companies, has contracted with the “IEC” engineering consultancy office to lay down the engineering designs for the “Agile” project in the New Administrative Capital (NAC).
The contract was signed by Ahmed Zaghloul, Executive Director of “Radix Development” for Real Estate Development and Engineering Consultant, Faisal Abu Al Azm, Chief Executive Officer (CEO) of the “IEC” Engineering Consulting Office.
Ahmed Zaghloul, Executive Director of “Radix Development” for Real Estate Development, said that the contract with the “IEC” engineering consultancy office came as a result of its experience in administrative and commercial projects, which is considered among the best engineering offices and expertise houses specialised in these projects.
Zaghloul explained that the company is planning to start implementing the project during the current year and pumping investments worth EGP 300 million during the implementation stages and aims to provide a distinct real estate product that matches the engineering designs, pointing out that the company took care of during the selection of the project design to suit the target customers in light of the competition in the Downtown area. In the New Administrative Capital.
Zaghloul added that the Saudi Muwafaq Group, which owns the “Radix Development” company, will oversee and supervise the implementation work through one of its advisory branches. “The implementation work will be assigned to one of the group’s companies next June”.
Akram Al-Sheikh, Deputy Executive Director of “Radix Development” for Real Estate Development, said that the project was designed in France and approved in Cairo and includes a contract with the IEC office, the design, and the creative idea of the project.
For his part, Eng. Faisal Abu Al-Azm, CEO of the IEC Office for Engineering Consultancy, expressed his happiness in contracting with the “Radix Development” company for real estate development in its first projects in the New Administrative Capital, pointing out that the company requested that the project is distinct compared to the rest of the projects in the Down Town area. and to take into account the internal details of the division of the project and the distribution of units and spaces in proportion to the target customer segment, especially those who wish to invest.