TriGranit Management Corporation (TGM), together with Design International (DI) and MultiCapital, are pleased to announce that a Joint Venture agreement has been signed whereby TGM will work jointly with Design International Leasing (DIL) on leasing mandates across North Africa. In addition, this partnership will further enhance their clients’ retail leasing and asset management experience across the Middle East and North Africa regions.
The partnership brings together over 20 years of expertise from TriGranit as well as best practices from DI in retail leasing & design and MultiCapital, one of the strongest retailers in the region, to ensure state of the art, award winning retail projects are delivered via an innovative and integrated approach. Together they will maximise the performance of their developments through a seamless approach with the aim of becoming the leaders in this market. This joint venture is the first step towards TGM acquiring an equity stake in DIL.
Speaking about the partnership, Philip Evans, CEO of TGM, said, “Our 5 year business plan sets out our strategy for expansion into the middle & far-east, and this joint venture allows TGM to formally launch our Middle East offices based in Dubai through our affiliate company TGM Consultants Dubai. TGM, Design International and MultiCapital’s combined expertise makes for a perfect synergy and we look forward to a strong relationship of growth in the MENA region”.
Davide Padoa, CEO of Design International, stated, “DI Leasing’s tailored services combined with our knowledge of best practices, international market trends and integrated management of design, leasing and retail phases, compliments TGM and creates a very strong and fruitful partnership that will benefit our clients.”
Further, Emad Eldine Abdalla, CEO of MultiCapital, sees that their experience through operating the Al Hokair brands in North Africa as well as the company’s strength in the development of real estate and shopping malls will align with TGM and DIL’s expertise to not only engage with clients’ expectations, but exceed them.
Today, the companies also announce their combined mandate to lease Cleopatra Mall located in 6th of October, Greater Cairo, Egypt. Cleopatra Mall will provide over 115,000 sqm of GLA and 150,000 sqm GBA featuring an innovative design by award-winning retail architect Davide Padoa of Design International. The iconic design is characterised by a gigantic canopy that covers the central area of the scheme with a span of over 200 metres – likened to a ‘wave in the desert’. The design is further enhanced by two corner towers, a luxury hotel, an office building and a distinctive 20,000 sqm artificial lake with waterfalls and a cybernetic fountain feature.
Jihad Dirani, TGM’s Director, Retail Leasing for the MENA region, will lead the leasing of Cleopatra Mall and head up the TGM Dubai office. Previously Jihad was with AlShaya and Al-Futtaim Group Real Estate. Jihad states “It is my role to not only provide a retail mix that caters for the varied needs of the Mall’s clientele, but also to work with the retailers, developer and suppliers to build long term relationships as well as bringing in new business for the company and expanding both TGM’s, DIL’s and MultiCapital’s services across the region”.
Central European based TriGranit is one of the largest fully integrated regional real estate investment, development and management companies in the region. Boasting a 20-year track record of excellence, TriGranit has developed an award-winning portfolio valued at Euros 2.5 billion, and has a pipeline of over Euros 4 billion of major mixed-use developments. With a more than 3 billion Euro portfolio of trophy assets managed, TriGranit welcomes over 60 million visitors every year and supports the success of more than 1,500 international cross-border tenants, establishing TriGranit as one of the largest and most renowned industry leaders in Europe.
TriGranit operates in Central and Eastern Europe, the Caucasus region, North Africa, as well in the Middle and Far East. By merging development skills and experience with property and facility management, TriGranit has created a very strong and unique combination providing a full suite of real estate development and management services. Capitalising on its 20 years of professional experience, TriGranit is well-positioned to participate in the expanding real estate markets.
About DI Leasing
DI Leasing, is a company that was specifically set-up to serve the needs of the owners of Cleopatra Mall and deliver an integrated design based leasing solution to this world class development. It is now an international consulting company with an initial focus on North Africa, which operates in the real estate sector, specializing in leasing, property and facility management. DI Leasing will now deliver an integrated approach with creative crossover with Design International Group’s expertise in architecture, branding and development; TGM’s 20 years expertise in leasing and managing unique retail and leisure destinations and Multicapital’s experience in acquisition and development of real estate, shopping malls, besides being the leader in operating fashion franchises in North Africa.
About Design International
Design International is an award-winning global architecture, design and consultancy practice with specialist expertise in design-led retail architecture. The firm is responsible for over 36 million sqm of build architecture with projects spanning across the globe. Among its many accolades, Design International’s most recent awards include the 2012 MIPIM- Best Shopping Centre , 2012 MAPIC- Best Retail & Leisure Development; The Guinness World Records™ for “The largest in-store shop façade”; the RLI Best Designer Award 2013 and winning the same award in 2014.
Budapest, 14 October 2014
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Two decades of excellence
This year TriGranit is celebrating its 20-year track record of excellence. Two decades of high-value service and international recognition hallmarks our day to day work towards our investors and clients. TriGranit has developed an award-winning portfolio valued at 2.5 billion euros, and has a pipeline of over 4 billion euros of major mixed-use developments. With a more than 3 billion euro portfolio of trophy assets ... ►