Thu, 15 Jul 2021 - 01:32 GMT
In view of its plan for expanding in the Egyptian market and executing groundbreaking projects, Capriole Group seeks to inject EGP15bn investments in the Egyptian market, in the New Administrative Capital in particular, in the span of the five years.
Capriole Group, with up to 30-year experience, is one of the Egyptian companies that managed to establish strong and distinguished trademark outside Egypt, particularly in the United Arab Emirates, where it executed works worth billions of Dirhams, namely skyscrapers, hotels, plants and educational institutions.
On his part, chairperson of Capriole Group Eng. Mohamed Mofeed said that the company picked this particular timing to come back and start to invest in the Egyptian market after it spent up to 30 years working abroad, owing to its trust in the current political leadership that executed huge developmental projects, the New Administrative Capital to mention a few, and heeded the importance of creating investor-friendly climate. The way governmental bodies are handling investors has changed drastically, with constant contracts and prompt responses to investors' demands and problems being in place, he asserted.
"The company is keen to transfer its expertise in renovation and reconstruction to the Egyptian market, through rolling out remarkable products commensurate with highest reconstruction and technology standards and capable of adding value to the market."
In the wake of its success in carrying out prestigious service projects in areas of education and industry, the company opted to enter the Egyptian market to replicate that success and to enjoy the latter's growing demand for services.
Chairperson of Capriole Group referred to the launch of two subsidiaries, one for running commercial and administrative facilities and the other for contracting.
As regards its existing investments in the Egyptian market, Capriole Group is executing two projects in the New Administrative Capital, LINX complex and a 12,000sqm school, he added.
LINX is a commercial, administrative and medical complex consisting of 12 floors with 2 basements. The first basement and floor encompass 51 commercial units; the 2-9 floors include 280 administrative and medical units at investments worth EGP1,5 billion, he elaborated.
The company has finalized all procedures, including the issuance of ministerial decree and licenses. Constructions kicked-off and the project is due to be marketed next August, he explained. "The company was keen not to market the project unless a large chunk of constructions is completed so as its credibility can take root in the market, as delivery is scheduled to start in the span of 3 years."
Capriole Group awarded the designing and engineering consultancy to Abu Dhabi-based Architecture & Planning Group (APG) which has 30-year experience and carried out architectural and engineering landmarks, he noted.
Capriole Group signed a contract with MREC to run the commercial section at the company and to promote LINX.
On his part, chairperson of MREC Mahmoud Abd Al Halim said that LINX complex feature a remarkable location in the New Administrative Capital, MU23 commercial district. The complex, spanning 7635m area, lies betwixt R2 and R3 districts and is situated in close proximity to Embassies Neighborhood and the Central Business District.
Established back in 1993, Capriole group is one of the Egyptian entities that expanded in the Arab Gulf States and excelled there owing to its innovative ideas and value-addedness.