TriGranit Management Corporation (TGM), together with Design International (DI) and MultiCapital signed in October 2014 a Joint Venture agreement whereby TGM will work jointly with Design International Leasing (DIL) on leasing mandates across North Africa. As the second step of the cooperation, today TGM completed the purchase of 33% of the share capital of DI Leasing.
The partnership brings together over 20 years of expertise from TriGranit as well as 50 years of award winning projects from DI in retail leasing & 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 maximize the performance of their developments through a seamless approach with the aim of becoming the leaders in this market.
“Speaking about the partnership,” Philip Evans, CEO of TGM, said, “after signing the JVA, and commencing work on the Cleopatra Mall project, the opportunities became very clear to us and I believe this acquisition underlines our commitment to the project. We are delighted to confirm that the acquisition of 33% of the share capital in DI Leasing has taken place today also. With the signing of the sales purchase agreement, all parties confirm the seriousness of the intention to cooperate in the North Africa region and beyond.”
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 and leasing phases, compliments TGM and creates a very strong and fruitful partnership that will benefit our clients.”