Morganti – Annex aims to inject betweenAED 10–20 million into the Egyptian market in the upcoming 3 years

Vantage Developmentsleads the biggest cooperation in Project Management with 3 major international companies to establish “Morganti – Annex”
Morganti – Annex aims to inject betweenAED 10–20 million into the Egyptian market in the upcoming 3 years
This alliance comprise Morganti – an American based company – which has more than 100 years experience in managing major assets all around the globe
Through a leading step revealing the Egyptian market attractiveness and power in terms of investments, Vantage Developments has concluded a Consortium with Morganti GCC, Annex Investments, and Seattle Project Management Services, to launchMorganti – Annex for Projects and Assets Management.

Being the first of its kind, this cooperation is constituted between Egyptian, Arab and American companies to introduce a new service to the Egyptian market using the latest methods and practices in Project and Asset Management to enrich the Real Estate sector and achieve the highest returns on investments. The company’s goal goes hand in hand with the urban and developmental booming in Egypt, and will optimize opportunities to the construction expansion of luxurious buildings and towers requiring special and exceptional managerial and engineering expertise.

Morganti – Annex aims to inject between AED 10–20 million into the Egyptian market in the upcoming 3 years.

Morganti is an American company with more than 100 years ofglobal experience in the field of Projects and Assets Management and 25 years of experience in the Arab Gulf Region. It has also carried out many projects in the United Arab Emirates, including Etihad Towers, Sheikh Zayed Grand Mosque, Private Palaces, Saadiyat Villas, and Mohammed Bin Rashid City. As for the Kingdom of Saudi Arabia, Morganti runs big projects, including Riyadh Airports and NEOM Projects.

Vantage Developments gained its reputation in the Egyptian market by delivering innovative projects with added value. Whereas Annex Investments, managed by Mr. Ahmed Nasser Al Nowais, is proven to have a distinguished experience in the investment sector. Nonetheless, Seattle Project Management Services, led by Eng. Saeed El Hamli, former CEO of Etisalat Misr,is marked by its vast experience in the technology and communication sector in the Gulf.

The new formed “Morganti – Annex” will reflect the expertise of its founders’ through providing high-level Total Facility & Project Management Services to Residential, Commercial & Hotel buildings usingthe latest technologies.

The Chairman of Vantage Development, Mr. Mohamed AbdelGawad, stated that this cooperationreflects the powerful and strong demandon the Egyptian market resulting from the unprecedented development and construction activities growth in the country, as well as from the political and economic stability, as well as from the political and economic stability, and the Egyptian government commitment to support investments.

Hestated that Morganti – Annex will mark its first milestone in the Egyptian market through managing “Century City” Compound, owned by Vantage Developments in New Cairo,prior to expanding the services to cover major private projects, mainly in the fourth-generation cities.

He clarified that the company vision, driven by the expertise of its founder’s innovative added value, is planning to expand abroad and manage projects in different countries.

On this occasion, the President of Morganti GCC, Mr. Walid Salmanstated that the company with its legacy holds the necessary tools and resources, including the relevant frameworks and required competencies, for becoming a role model in the field of Projects and Facilities Management Services. Morganti’s reputation stems from implementing the highest levels of efficiency and maintaining the utmost standards of quality, performance and safety.

Mr. Salman emphasized that the decision to enter the Egyptian market is aligned with the actual market conditions which have become prone to attracting investment, namely within the real estate sector. This decision is an outcome of the strength and solidarity between Egyptian-Emirati relations translated by the political leaders in both countries to enhance joint cooperation, especially in the economical fields.

Mr. Dany Saliby, Area General Manager of Morganti GCC, highlighted that Morganti-Annex will kick-off its business in Egypt by providing services to “Century City” project owned by Vantage Developments, (a leading company in the real estate sector) including the Management and Maintenance of Mechanical, Electrical & Plumbing Systems (MEP), Heating, Ventilation & Air Conditioning Systems (HVAC), Waste Management, Civil Security Services, Smart Parking Management, and Interior Fit-Out Works for some administrative and residential units.

The Managing Director of Seattle Project Management Services, Eng. Saeed Al Hamli stated that Morganti – Annex will ensure providing services using the latest globally-adopted technologies in smart cities.

Mr. Al Hamli had also emphasized that the company’s services will contribute toenriching real estate sectorand increasing the return on investment.

Whereas theFounder &CEO of Annex Investments, Mr. Ahmed Nasser Al Nowais, has stressed the fact that the Egyptian market is distinguished by its great and promising investment opportunities ensuring the achievement of growing returns. This has motivated the company to cooperate with major entities to enter the Egyptian market and add valueto projects and services management field.

Mr. Al Nowais stated that Morganti – Annex operates with excellence and innovation. He also added that the company will ensure considering the latest developments in the management sector.