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29 March 2024

TriGranit, DI Leasing and MultiCapital sign deal for leasing mandates

Philip Evans, CEO of TriGranit Management Corporation.

Published
By Staff

TriGranit Management Corporation (TGM), along with DI Leasing (DIL) and MultiCapital have signed a deal whereby TGM will work jointly with DIL on leasing mandates across North Africa, said a press statement on Tuesday.

This partnership will 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  fromTriGranit as well as best practices from DIL in retail leasing and design and MultiCapital, one of the strongest retailers in the region, to ensure state-of-the-art 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 Multi Capital’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, said: “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.”

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 announced their combined mandate to lease Cleopatra Mall located in 6th of October, Greater Cairo, Egypt.

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.