Menassat Developments Signs Contract with EHAF for project management of Podia Tower Project
Menassat Developments signed a strategic partnership agreement with EHAF Consulting Engineers, a leading company in engineering consultancy and project management. The contract makes EHAF the project management consultant of Podia Tower, the first energy-saving commercial, administrative, and medical tower in the New Administrative Capital, with an investment worth around EGP 2.5 billion.
“The contract with EHAF supports our strategy since we started working in the Egyptian real estate market. This strategy relies on cooperating with the largest companies working in the construction field, in Egypt and across the region. We aim to provide high-quality real estate services, according to the latest international standards, to meet our clients’ needs,” said Ahmed Amin Massoud, Chairman of Menassat Developments.
“Our four-year contract with EHAF makes them the consultant responsible for managing the project during design and implementation phases, in addition to supervising progress among contractors, consultants, and suppliers, and coordinating among them,” added Massoud.
“We selected EHAF after careful research of reputable firms in the market as it is an international firm ranked high globally. EHAF ranks 12th of Top 20 Non-U.S. Firms in Total Global Construction Management and Program Management Fees. In addition, it is a world-class multi-disciplinary consultancy firm, providing architectural and engineering services in multiple Arab countries, including Egypt, Saudi Arabia, UAE, Qatar, among others,” said Tarek Bahaa, CEO of Menassat Developments.
“We reviewed all the drawings for Podia Tower and obtained the necessary license approvals. Drawings have also been approved by the Civil Defense Authority and the specialized committee for structure review, which makes Menassat Developments the first real estate development company in the area to do so. Moreover, all the approvals and drawings were handed over to the Building Research Center, and we are currently following-up with them to obtain their approval and head to the New Administrative Capital Authority to obtain building permits.,” noted Bahaa.
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“We also received the drilling permit after paying the EGP 5 billion drilling insurance,” added Bahaa.
Bahaa explained that excavation work is currently being carried out at a depth of 20 meters on an area of 19,782 square meters at the Downtown area (Touristic District) in the New Administrative Capital. “We’ve reached a depth of 15 meters; only 5 meters is remaining until we reach foundation level.”
Podia Tower is one of the first energy-saving commercial, administrative, and medical towers in the New Administrative Capital, with an investment worth around EGP 2.5 billion. Podia Tower is the capital’s first to be built on a Smart Building Technology system, encompassing 25 floors, 3 basements, and a ground floor. It is scheduled to be delivered by 2025.
On the other hand, Abdelaziz Fahmy, Vice President of EHAF Consulting Engineers, celebrated the partnership with Menassat Developments as one of the leaders in the real estate and investment sector in Egypt, with an experienced and well-established board of directors.
Fahmy stressed EHAF’s commitment to implementing the terms of the contract according to the highest international standards, to contribute to making Podia Tower the best medical commercial administrative building in Egypt that can compete with distinguished administrative buildings around the world.