A foreign firm signs a power agreement with an Islamabad real estate project. EIGHTEEN, a luxury real estate development in the twin cities, has signed an agreement with TAQA Power, TAQA Arabia Qalaa Holdings Company, to electrify a housing project in Islamabad.
According to a communique, the agreement was signed by Eighteen CEO Tarek Hamdy and TAQA Power Managing Director Samy Abdelkader.
The project’s objective is to establish an efficient distribution network that meets the developers’ demands for highly reliable and efficient power solutions. This multinational company signs a power deal with an Islamabad real estate project
Under the terms of the agreement, TAQA Power will provide complete energy solutions for EIGHTEEN, including the design and construction of a distribution network and a power source that will include backup generation and solar panels to provide customers with reliable and environmentally friendly solutions.
After construction is complete, the power company will ensure the society has a reliable power system while maintaining a higher standard of operation and maintenance.
“We are delighted to have TAQA Power onboard to provide the best electrical infrastructure and optimized solutions for our residents,” Tarek Hamdy said in response to the agreement. This agreement is significant for the project’s development because it is the first of its kind to be implemented in Pakistan, requiring long-term growth over approximately 15 to 20 years”.
Samy Abdel Kader stated on occasion, “It is an honor to have been chosen by Elite Estates Private Limited, the developer of the EIGHTEEN projects, to design a power plan that meets the highest standards and incorporates green energy solutions.”
“Pakistan is a promising market in South Asia, and given our regional prominence in the power sector, this partnership will benefit both parties significantly. We hope to leverage this collaboration in the future to collaborate on more worthwhile projects with Elite Estates, “he continued.
Pakinam Kafafi, CEO of TAQA Arabia, added, “I am extremely pleased with this project and our collaboration with ORA development as a strategic partner to TAQA Arabia and its subsidiaries in supplying sustainable energy and utility solutions; to their development projects in Egypt and throughout the world.”
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According to the communique, EIGHTEEN is a joint venture between Egypt’s Ora Developers and Pakistan’s Saif Group and Kohistan Builders (KBD). The grand project, located just ten minutes from the New Islamabad International Airport, is a focal point in the twin cities. The project intends to fuse sophistication and convenience to make residents’ dreams of a lavish lifestyle a reality. This company signs a power deal with an Islamabad real estate project
TAQA Power is a pioneer and market leader in Egypt’s integrated private power sector, offering multiple ranges of services across the value chain for conventional and renewable energy generation and distribution projects, including development, construction, operation and maintenance, billing, and collection, and energy efficiency.
The company has a strong reputation for operational excellence by supplying electricity to over 7,000 customers through a diverse portfolio of megaprojects with contracted capacities exceeding 1,000 megawatts in various industries.
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