Enwan Developments announced signing a strategic contract with Tradeline to be present within the Pixel Technology Plaza project in the Downtown area at New Administrative Capital (NAC), which is the first and exclusive presence of Tradeline in the NAC.
This announcement came during the press conference the company held in the presence of officials from both companies, and a group of journalists and media professionals.
Mohamed Salem, founder and CEO of Enwan Developments, said that cooperation with high-end brands enhances investment value of the project, as Tradeline is the largest and most important authorized distributor of international Apple products in the Arab Republic of Egypt. Additionally, its presence in the mall enhances technological and electronic identity of Pixel Technology Plaza.
Salem noted that attracting a brand such as Tradeline will promote attracting more strong brands locally and internationally, which enhances the project’s chances in local and foreign competition.
He further pointed out that the company aims to expand marketing of the project outside Egypt during the coming period for Egyptians expatriates and foreign clients. This comes within the state’s plan to expand the export of Egyptian real estate.
He added, “The Tradeline brand has a strong reputation in field of electronics and retail technology. Moreover, existing in the Pixel Technology Plaza, makes the mall an ideal destination for those looking for everything related to modern electronics in the NAC, and in turn enhances investment value of the project.”
Spanning over 6,393 sqm, Pixel Technology Plaza consists of two garage floors, a ground floor, and eight repeated floors. The mall comprises administrative commercial properties situated in a strategic location in the NAC’s Downtown area in front of the headquarters complex of international computer companies and in front of Almasa Hotel.
He pointed out that the company is keen to cooperate with major companies and entities specialized in all details of the project. Accordingly, the company has partnered with Azure Architects to be architectural and engineering consultant for the project, as well as MSC was assigned to be general contractor for the project.
He explained that the investment value of the project amounts to approximately EGP 290m so far.
He pointed out that the company has succeeded in selling more than 50% of the project so far, and the company has not offered all the project units for sale at once, which is one of its precautionary measures to maintain a balance between construction cost and selling price to avoid any gap.
He disclosed, “It is planned to launch a new phase in the mall, which will include commercial and administrative units at prices suitable for target segment of customers. The company eyes registering EGP 200m in sales in all its projects by the end of 2023. The mall comprises 31 commercial stores wholly owned by Enwan Developments, with spcaes starting from 30 sqm, and the first three floors are allocated for commercial properties and the rest are allocated for administrative units.”
He elaborated that the company’s total investments in the New Capital amount to around EGP 850m, which includes a variety of projects, and the company plans to expand significantly during the coming period in east Cairo. Besides, developing both residential and mixed-use projects in light of the availability of strong investment opportunities for serious companies with ambitious strategic plans and strong financial solvency.
Business Director at Tradeline and Express Mostafa Medhat expressed his pleasure to cooperate with Enwan Developments, which is one of the leading companies developing a promising project in the New Capital, especially since the cooperation allows his company to be present for the first time in the NAC.
Medhat said that the company cares about choosing its locations and developers it contracts with.
He added, “After applying all the required standards and specifications for the Tradeline project, starting from project site, passing through engineering drawings and financial solvency of developer, the Tradeline’s board of directors approved the contract with Enwan to be its first gateway to the New Capital.”
Enwan Developments has a strong business precedent and a diverse project portfolio. The Pixel Technology Plaza project is located in a best place to invest in and represents a unique opportunity for Tradeline to reach its customers in the NAC, he explained.
Medhat highlighted the importance of the company’s presence within a project specialized in selling technology and electronics products.
Tradeline currently has 30 branches in the local market, and the company plans to further expand with new branches with distinguished success partners during the coming period, he said, concluded that the NAC is a promising market that the company plans to expand into, considering the New Capital is a smart and sustainable technologically advanced city.
