Egyptian real estate developer EGYDEV has signed a strategic cooperation protocol with E SPACES to provide and manage co-working spaces in the West Park project, a comprehensive service complex in the 6th of October City. The agreement was signed by EGYDEV's Deputy Chairman and CEO, Ahmed Adel Loutfi, and E SPACES' Founder and CEO, Ahmed Yasin. The partnership aims to offer high-quality services, including furnished office spaces for entrepreneurs and businesses.
EGYDEV's West Park project is a large-scale development that includes commercial, administrative, and medical services on a 17,000 square-meter plot. The project offers over 30,000 square meters of built-up area and has already seen the operation of over 140 medical clinics and 60 offices and commercial units. The project's investments currently exceed one billion Egyptian pounds. EGYDEV has been a major player in Egypt's real estate sector for over 30 years, with a focus on developing projects in new cities.
The co-working spaces in West Park, managed by E SPACES, will cover an initial area of 700 square meters. EGYDEV chose to partner with E SPACES due to its unique approach and positive track record in managing shared workspaces in a short period. This partnership is part of EGYDEV's strategy to expand its service projects and hospitality services, collaborating with key strategic partners to provide added value to the Egyptian market.
E SPACES, an Egyptian brand specializing in managing and providing co-working spaces, has been operating in Egypt since 2011. The company currently has over 20 branches in various locations in Greater Cairo and outside the capital. E SPACES manages over 40,000 square meters of co-working spaces and has recently expanded through strategic partnerships in the UAE, Saudi Arabia, Oman, and Europe.
Ahmed Adel Loutfi stated that the partnership with E SPACES aligns with EGYDEV's strategy to collaborate with distinguished entities that offer high-level services. He highlighted EGYDEV's focus on providing a high-quality environment for entrepreneurs and businesses, ensuring maximum productivity. Loutfi also emphasized EGYDEV's plans to expand its service projects and hospitality services in the coming period.
Ahmed Yasin noted that EGYDEV has a strong track record of over 30 years in the real estate sector, with several notable projects in the 6th of October City and Sheikh Zayed. He added that E SPACES aims to leverage its expertise in managing co-working spaces to provide innovative solutions for entrepreneurs and businesses in Egypt.
The partnership between EGYDEV and E SPACES is expected to enhance the co-working space offerings in Egypt's growing entrepreneurial ecosystem. With E SPACES' expertise and EGYDEV's extensive experience in real estate development, the two companies are well-positioned to provide high-quality services to entrepreneurs and businesses in the West Park project and beyond.
Key points
- EGYDEV and E SPACES partner to offer 700 square meters of co-working spaces in West Park
- The partnership aims to provide high-quality services, including furnished office spaces for entrepreneurs and businesses
- E SPACES manages over 40,000 square meters of co-working spaces in Egypt and has recently expanded to the UAE, Saudi Arabia, Oman, and Europe
