City Edge Developments (CED) and Sky Investments have signed a memorandum of understanding (MoU) for the latter to participate in the marketing, leasing, and property management of brands in CED’s project in Sheikh Zayed city.
Furthermore, the two companies will collaborate on the financing, construction, marketing, selling, or leasing of CED’s future projects, as well as any new activities and operations at the residential, commercial, administrative, hotel, or recreational levels.
The two companies held a major press conference on Monday to announce the signing of the Memorandum of Understanding.
CED Chairperson Ashraf Salman stated The agreement is part of CED’s strategic plan, which aims to broaden the scope of its investments, establish more regional partnerships with large entities operating in the real estate sector, and works to achieve investment returns that will benefit its stakeholders and customers.
According to Mohamed El-Mekkawy, CEO of CED, the collaboration with Sky Investments attempts to optimize the value of City Edge projects by relying on companies that specialize in project management, leasing, and brand property management to achieve respectable returns on investment for these projects as a result of professional management.
Sky Investments Chairperson, Ayman Fathy Hussein, said that they have numerous investment activities and businesses in Egypt in various industries, including the energy, logistical, real estate and tourism industries.
Fathy added that Sky Investments aims to achieve maximum investments by signing an MoU with CED through one of Egypt’s largest and most prominent Real Estate developers.
Sky Investments CEO Ahmed Shalash said that City Edge will use all its capabilities to make the most of the opportunity. This will also help to integrate the two large entities’ experiences to optimize ROI
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