Radix Development launches “Spinner” project in the New Administrative Capital

Radix Development has launched its third project, “Spinner” Mall, in the New Administrative Capital, during a press conference, which was held at the Hilton Heliopolis Hotel, which it offers to its customers with investment features and very competitive prices, in addition to providing the highest levels of quality that the company follows in implementing its current projects.

This came in the presence of the co-founder and CEO of Radix, Akram Al-Sheikh, the Saudi businessman Salman bin Khalil Al-Sabaan, Chairman of Salmaniya Group in Egypt and Vice Chairman of Muwafaq Holding Group in Saudi Arabia, and Ahmed Zaghloul, founding partner and CEO of Salmaniya, in addition to the presence of Dr. Eman Saleh – CEO of the brand and Dr. Bassem El-Sherbiny – CEO of Etqan and Eng. Mohamed Tamam – CEO of Archrete.

Ahmed Zaghloul, the founding partner and CEO of Salmaniya, began his speech during the press conference by saying that the company was interested in putting all its expertise into choosing a unique strategic location for the implementation of “Spinner” Mall in the New Administrative Capital, as the choice fell on an area close to important roads and vital places, as well as the main axes. The direct main center through which access is easy for all customers without taking long distances, as the New Administrative Capital city has global technologies that keep pace with modern urban development due to the use of fourth generation technologies and ensure the success of customers’ investment activity. Therefore, “Spinner” Mall in the New Administrative Capital is located on the axis of Al-Amal is located in the MU23 area, specifically in plot E8, with a direct view of the largest square in the axis. This emphasizes the importance of the site chosen by the company, which confirms to our clients that the company always seeks to choose the best sites for its projects, as happened before in the Agile project, Ray Compound, which is located in the best locations in the R8 area, both in the Administrative Capital.

Ahmed Zaghloul added that the company has developed an investment plan that is consistent with its strategy in the real estate market during the next 5 years and aims to expand with a package of new projects, especially in the New Administrative Capital, in addition to studying investment opportunities in various other places, in addition to continuous and ongoing work around the clock to complete the stages. Construction in previous projects, as the Agile project in the Downtown area is witnessing a surge in construction stages that exceeded 60%, and also the Ray project, which is witnessing the start of excavation work for the first and second phases during the current month due to the introduction of some procedures in the licensing issuance systems that were not followed before February 2023. By the official authorities, therefore, the construction time plans were amended to avoid any delays in deliveries, out of the company’s concern for the interest of its customers. The company also intends to begin construction of the new project as soon as possible.

Zaghloul continued, that the implementation, the real presence on the ground through the actual implementation work, is the only witness to prove the seriousness and competence of the real estate developer, and that the implementation and construction work is one of the most important stages of the project to which the company pays special attention, and we never compromise on the values that we offer to our customers. The most important of which is the quality of the real estate product that we provide.

Akram Al-Sheikh, co-founder and CEO of Radix, explained that Spinner Project in the Administrative Capital over 10,700 square metres, and the project consists of a ground floor in addition to 11 recurring floors, and the largest portion of the total area has been allocated to the share of buildings that contain a variety of investment units. Including medical clinics, as well as shops and administrative offices, which are distinguished by their varying sizes and offered at the best prices, in addition to the availability of all basic services and various facilities that are distinguished by their high quality to meet the needs of all customers and investors in “Spinner” Mall, the New Administrative Capital, as the project targets sales exceeding 3 billion. Egyptian pounds during the next three years, and the cost of the project is approximately 2.5 billion Egyptian pounds.

Akram Al-Sheikh pointed out that Radix, since its launch in the Egyptian market, has taken into consideration its “customers” who are the basic base for success and excellence, and therefore it has cooperated in “Spinner” Mall project in the New Administrative Capital with success partners from major consulting, architectural and marketing companies. Including the engineering consultant Archrete, financial and marketing consulting, Etqan, and the brand commercial unit management company.

As Akram Al-Sheikh explained, Radix Development was the first nucleus for the formation of the “Salmaniya Group of Companies,” which now includes 9 companies operating in 5 different industrial, commercial, and service sectors, as the companies’ work strategy relied on entering first into the industries feeding the real estate development sector, such as “Agile For Investment” company works in management, operation, maintenance, and providing consulting services under its “Z-Advisor” brand, in contrast to the “UCAC” company for advanced contracting, which works to achieve the highest quality rates in building fourth-generation cities, and also establish a factory. Specialized in metal forming in partnership with an investor-manufacturer with up to 20 years of experience within the same sector, in addition to the “Radix Smart Tech” company, which works to provide smart solutions to customers in the framework of smart homes and offices, “Home Automation” and also All light current works in major projects inside and outside Egypt, such as civil defense works, alarms, surveillance cameras, monitoring and management of smart buildings, Internet support services, and all other works.

The light current money also works on “Data Center” projects, such as the one being held in the Administrative Capital, in more than one location.

Akram Al-Sheikh went on to say that all of this is for the sake of implementing and operating a distinctive real estate product worthy of bearing the name and trademark of Radix, which we are proud of being currently the nucleus of the transformation of the group’s business to exceed the volume of cash investments in circulation exceeding one billion Egyptian pounds after it was the beginning of the investments that were pumped. 40 million Egyptian pounds 7 years ago, and during that period we succeeded in building and transforming to become an ambitious economic entity and we strive for more.

Salman bin Khalil Al-Sabaan, Chairman of Salmaniya Group in Egypt and Vice Chairman of Muwafaq Holding Group in Saudi Arabia, confirmed that the company went to invest in the Egyptian real estate sector through the company “RADIX DEVELOPMENT” due to the strong investment climate in Egypt, explaining that the group aims to expand. With a portfolio of new projects during the coming period, it chose to start in the New Administrative Capital because of the tremendous investment potential that this project has, in addition to the government’s interest in this huge project and the provision of all mechanisms to make this project a success.

Salman explained that all the work carried out by Salmaniya Group is internally funded by the group’s shareholders, each company separately, and none of the group’s companies targets any external financing, whether from financing funds in the Kingdom or by borrowing from banks in Egypt.