Arab Finance: Garnet Developments has signed a cooperation agreement with Raya Smart Buildings to launch Flare Plaza project with a total investment of EGP 2 billion, according to a press release.

Located in Sheikh Zayed City, the new mixed-use commercial project is scheduled to be completed within two years.

Flare Plaza integrates modern architectural design with global quality standards, adhering to sustainability aspects. It includes offices, retail spaces, as well as food and beverage (F&B) outlets.

Mohamed Ayesh, Managing Director of Garnet Developments Company, said: "By partnering with Raya Smart Buildings, we are reinforcing our position as a leading real estate developer and opening new doors for future success.”

“This partnership marks a significant milestone in our journey to solidify our position in the real estate market, and we believe that this strategic alliance will yield fruitful results for both parties,” Ayesh continued.

On his part, Ahmed Ibrahim, CEO of Raya Smart Buildings, commented: “This project embodies our vision of creating innovative spaces that meet the evolving needs of our customers."

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