TriGranit Management Corporation will work jointly with Design International Leasing on leasing mandates across North Africa.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”.