Hometown Developments has contracted Hassan Allam Property Management to manage its projects in the New Administrative Capital (NAC), namely Lafayette Mall in the Downtown area and the Zaha Park project in MU23.
Hometown Chairperson Diaa Farag said that the company is keen on contracting with successful entities to develop its projects. It will focus its attention on the project management component after delivery, to maintain the project’s quality and value as a real estate asset.
He added that Hassan Allam Property Management is a subsidiary of Hassan Allam Holding and supervises several services, including infrastructure and their maintenance, utility and property services, and energy solutions.
Farag noted that the Lafayette project is a large commercial and entertainment resort in the NAC’s Downtown area. It spans an area of 43,000 sqm, and is located adjacent to the banks area, the presidential area as well as to the ministries, directly in front of the Al Massa Hotel. The company plans to deliver the project in 2023.
The 10-storey Zaha Park project is located on an area of 7,200 sqm in MU23, and is being developed over two phases. The first phase includes three commercial floors with a total area of 6,400 sqm, whilst the second phase includes seven medical and administrative floors with a total area of 17,000 sqm.
