Supervisor Elham AbolFateh
Editor in Chief Mohamed Wadie

Castle Development Signs MoU with ABC for Management Solutions


Sun 09 Feb 2020 | 02:54 PM
Ahmad El-Assasy

Castle Development Company signed a Memorandum of Understanding with Ashi&Bushnag (ABC) under which, the later is set to provide consulting and facility management services for Castle Landmark.

They held a ceremony attended by Shiekh Mohamed Amin Bushnag, representative of ABC, and Eng. Ahmed Mansour, CEO of Castle Development, alongside representatives from both entities.

During the ceremony, they signed a memorandum of understanding. According to the MoU, ABC will act as the sole provider of consulting and facility management services to Castle Landmark, Castle Development’s flagship project situated in the New Administrative Capital.

The agreement comes as part of Castle Development’s efforts to introduce high-value residential, commercial, and administrative projects; this time by partnering with a leader in facility management services, one with achievements across the region.

CEO of Castle Development said: “This MoU represents a paradigm shift towards providing comprehensive products with upscale post-sale services. This ensures our project’s ability to meet the rapid progress taking place across the real estate industry, as well as maintain quality and smart solutions that offer round-the-clock services.”

Moreover, and as part of its commitment to add value through constructive partnerships with other leaders in the field, he further clarifies that the agreement with ABC complements our vision. He said: “It represents a significant step towards a unique value proposition, and allows us to stand out in a market with such fierce competition. ABC’s decades-long experience in consulting and facility management secures consistent and strong performance of our project in an area like the budding New Administrative Capital.”

The Facility Management market is projected to reach a value of $1.74 billion by 2026. This is backed by the significant growth, which the Facility Management industry has witnessed over the last 20 years, as more companies join the market to accommodate the increase in urban development, demand for quality post-sale solutions, as well as ensuring sturdy infrastructure.

In this respect, Sheikh Bushnag added, “As ABC, we consistently work to collaborate with names that stand out in their field. We regard this signing as a milestone, a new challenge that allows us to demonstrate our potential and showcase our services in a project like Castle Landmark at the New Administrative Capital. We aim at employing our wealth of experience in the field, in Egypt and the gulf area, to best serve the project and offer an unparalleled, comprehensive experience.”

ABC’s line of work focuses on construction and maintenance of buildings, the establishment of road contracting and water desalination plants, operation and contracting of water and sewage networks extension, mechanical, electrical and electronic works.

The company manages a number of public facilities in Saudi Arabia including the Aramco complex in western Saudi Arabia, the oil and administrative facilities situated in the western side of the country, as well as several hotels in Jeddah and Mecca.

Launched in 2018, Castle Landmark is the result of a partnership between Castle Development and renowned El Makassa, where the former acts as the developer. With an investment of EGP 5 billion, the project is ideally located at the R7 site and covers a total land area of 43 acres, 81% of which is allocated to greenery and open space.

Egyptian-German Okoplan Consulting Engineers were chosen to do the landscaping for the project, which provides owners with a lineup of premium amenities and facilities, as well as commercial and recreational areas all adjacent to the city’s Green River. The project is set to start delivering in 2022.

[caption id="attachment_108835" align="alignnone" width="1024"]Shiekh Mohamed Amin Bushnag and Eng. Ahmed Mansour Shiekh Mohamed Amin Bushnag and Eng. Ahmed Mansour[/caption]

About Castle Development

Castle Development is a sister company to ABC for real estate development, which was founded in 1982 in Jeddah, Saudi Arabia. Castle Development focuses on developing high-value real estate projects, including residential, commercial, and administrative developments.

The company has a paid capital of EGP 1 billion and is investing EGP 8 billion at the New Administrative Capital alone.

The company has developed around 400 ranging from standalone villas and twin houses to townhouses and apartments in prime locations across the region.

Castle Development is introducing yet another venture to the Egyptian market, Castle Landmark, located in Egypt’s upcoming New Administrative Capital. The project is the result of a partnership between Castle Development and renowned El Makassa, and will see a total investment of EGP 5 billion introducing an integrated, smart residential compound set for delivery by 2022.

2019 sees the launch of the company’s second project, East Side; a comprehensive mixed-use facility located within the MU23 zone at the New Administrative Capital spreading over an area of 7,600 m2. The project, which sees a totalEGP 800 in investment, is designed and landscaped by renowned Egyptian architect HanySaad, of HanySaad Innovations, and will be delivered by 2021. For more information, please visit www.castle-development.com

About ABC

ABC was established in 1982 in Jeddah, KSA. The company focuses on providing contracting, consulting, and maintenance for buildings. It also offers road contracting solutions, operation, and development of water desalination plants.

The company has earned the trust of many through achievements that included some of the largest projects in the Kingdom of Saudi Arabia, like the King Abdullah University of Science and Technology, Saudi Armco Company, Red Sea Mall, the Royal Commission, alongside others.

The company currently manages a number of public facilities in Saudi Arabia including the Aramco complex in western Saudi Arabia, the oil and administrative facilities situated in the western side of the country, as well as several hotels in Jeddah and Mecca. The company has also developed 400 real estate and construction projects in Egypt and the Gulf region over the past four decades. For more information, please visit ashibushnag.com