Castle Development signed a memorandum of understanding (MoU) with Ashi & Bushnag Company (ABC).
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 (NAC).
This 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.
According to Ahmed Mansour, CEO of Castle Development, “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 around-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. 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 NAC.”
The Facility Management market is projected to reach a value of $1.74bn by 2026. This is backed by the significant growth the Facility Management industry witnessed over the last 20 years, as more companies join the market to accommodate increasing urban development, demand for quality post-sale solutions, as well as ensuring sturdy infrastructure, Mansour said.
Sheikh Mohamed Amin Bushnag, representative of ABC, said “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 NAC.” ABC’s line of work focuses on construction and maintenance of buildings, 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 5bn, the project is ideally located at the R7 site and covers a total land area of 43 feddan, 81% of which is allocated to greenery and open space. Egyptian-German Ökoplan 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 delivery in 2022.