Savills Egypt reports $55mln in 2024 tenant sales, cites ESG, retail initiatives
Savills Egypt Property Management reported EGP 2.76bn in tenant sales across its managed portfolio for the year 2024, according to its 'Key Highlights: Property Management' report released on 25 May 2025. The company attributed this performance to its strategic focus on tenant experience, operational efficiency, and sustainability-driven asset enhancement.
The firm managed nine major mixed-use properties across Egypt, serving nearly 17 million consumers in 2024. The property management team oversaw 738 tenants, facilitated 120 new store openings, and organised 102 events which collectively attracted more than 1.75 million visitors. Additionally, over 13,000 operational service tickets were resolved.
Environmental and resource-saving measures were a core component of Savills Egypt's operations in 2024. At one of Savills' managed properties, 83% of waste was recycled, and water consumption was reduced by 16% through the implementation of flow regulators and automated irrigation systems. Despite a 7% increase in occupancy at this property, electricity usage was reduced by 2% via smart programming and systems integration.
The adoption of renewable energy also progressed, with 11.4% of the same property's electricity sourced from solar PV panels. Electric vehicle infrastructure was expanded with the installation of 12 charging stations and two e-mobility docking sites for bicycles and scooters. The introduction of a Building Management System (BMS) in chilled water stations led to reported savings of 9.5% in electricity, 21.3% in gas, and 12% in water compared to 2023 divs. Social impact initiatives included annual charity bazaars and booths, alongside community engagement activities such as recycled art workshops and installations.
'This year's achievements are the result of close collaboration with our clients, tenants, and community partners,' said Corina Stamate, Head of Property Management at Savills Egypt. 'We're proud not just of the sales divs or event footfall, but of how we've embedded sustainability, innovation, and experience into every aspect of our operations. Property management today is about creating destinations people want to be part of.'
In 2024, Savills Egypt's managed assets introduced several first-to-market retail concepts. These included Africa's first Chuck E-Cheese, Cairo's first indoor padel facility, and the first branches in Egypt of SSS outlet, a Lotus Car concept store, and a Smart Car showroom, among others. The portfolio also saw the opening of the first Carrefour in the New Administrative Capital and hosted flagship openings for Aubaine London, Daily Dose, and Passionelle, alongside the debut of Kamelizer's co-working space in West Cairo.
Savills Egypt also focused on turning its properties into active destinations through large-scale events and entertainment. The LA (Lydia Akram) Market drew over 25,000 visitors, while the Lokamania Bazaar attracted more than 20,000 attendees. Entertainment programming included Rodeo Misr and exclusive premieres of 'The Goats' and 'Beyond the Tank' in partnership with Vodafone. These events, coupled with various activations and marketing campaigns, contributed to attracting the 17 million consumers across its managed properties in 2024.
Looking ahead, Savills Egypt stated it remains focused on advancing sustainability, elevating tenant experiences, and expanding its management capabilities. Plans for 2025 include the launch of new service lines within the property management business, the expansion of Savills' portfolio, particularly towards East Cairo, and the introduction ofcorporate and demise services.
© 2024 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
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