IWG has announced its first cluster franchise deals in Egypt, where it will open two flexible offices in the country’s New Administrative Capital (NAC).
The operator has partnered with real estate firm IC Group to open offices under its Regus brand in the country’s in-development capital city east of Cairo.
The first location, expected to open in January of 2023. Both will span over 48,000 square feet and offer 220 offices, meeting rooms, a lounge and more.
“IWG is a huge international entity that has achieved much success over the past 30 years, and that’s why we chose it,” said Ahmed Sherif, Sales and Marketing Manager at IC Group. “Moreover, its existing network in Egypt is well-occupied, clearly indicating that the demand is there. Flexspace is a big market, but without a major competitor in Egypt, we see our partnership as a great opportunity to generate an excellent return on investment.”