PARAGON: Empowering startups and SMEs with next-generation flexible offices in Egypt

Zawya

17-06-2025

Arab Finance: As Egypt's New Administrative Capital emerges as a pivotal center for economic growth and urban development, PARAGON Developments is playing a strategic role in shaping the future of work environments within this dynamic new hub. The workspace communities developer aims to address the evolving needs of businesses and contribute to the region's progressive landscape.
In this interview, Arab Finance speaks to Bedeir Rizk, CEO of PARAGON Developments, and Ahmed Shaarawy, Vice President of Commercial at PARAGON. They both share the company's visionary approach to real estate, focused on design, community, innovation, and sustainability.
1. What inspired the creation of Paragon Developments, and what differentiates it from other real estate companies?
PARAGON Developments was inspired by a bold vision: to redefine the traditional workspace experience in Egypt. Instead of just building offices, we place people at the heart of real estate development.
Backed by over 35 years of 360-degree industry experience, we saw a need for workplaces that do more than just house businesses. We wanted to actively enable human potential, foster innovation, and promote sustainable growth.
What truly makes PARAGON different are our four core pillars: Design, Community, Innovation, and Sustainability. These values back creating intelligent, regenerative workspaces. They are not just ideals, they are embedded into every building, space, and service the company delivers.
PARAGON goes beyond functionality to create regenerative spaces that actively contribute to the well-being of both people and the environment. PARAGON adopts IoT-enabled smart systems and intuitive design, in addition to providing eco-conscious infrastructure and collaborative community hubs. We build environments that empower entrepreneurs, corporations, and creatives alike to thrive in a modern, flexible, and future-forward ecosystem.
Unlike conventional real estate developers, PARAGON does not view its role as merely constructing office buildings. It creates dynamic ecosystems where people connect, ideas evolve, and businesses grow. All while upholding a responsibility toward environmental stewardship and national economic development.
This holistic approach, combined with a strategic outlook and rapid expansion, positions PARAGON as a transformative force within Egypt's evolving urban landscape.
2. How does Paragon Developments enhance productivity through its design and features?
At PARAGON, enhancing productivity is not just a goal, it is a foundational principle in how we design every workspace. We believe that the right environment can significantly impact how people think, collaborate, and perform.
Through several strategic partnerships with industry leaders, we have developed intelligent office ecosystems that actively support cognitive function, well-being, and overall productivity. Our buildings are equipped with advanced systems that improve daylight provision and artificial lighting quality, enhancing alertness and visual comfort.
We prioritize indoor air quality through better ventilation that reduces carbon dioxide and volatile organic compounds. Temperature regulation is also key, and our developments give individuals the ability to control their thermal comfort. This helps them stay focused and satisfied.
In addition, we invest in intelligent acoustic solutions that minimize distracting noise while optimizing background sound environments. Our workspaces are also highly interactive, enabling users to control lighting, airflow, and desk configuration to suit their needs.
We also use biophilic design elements, such as greenery, natural materials, and outdoor views, to create a deeper connection to nature. Such elements are proven to reduce stress and improve cognitive performance.
3. How does WORK IN at PARAGON.3 address the evolving needs of startups and SMEs in Egypt's New Administrative Capital?
The creation of WORK IN at PARAGON.3 reflects our strategic vision to support the next generation of businesses in the New Administrative Capital.
Located at the heart of the Financial District, directly facing the Presidential Palace, WORK IN is designed to meet the evolving needs of startups and SMEs, which are key drivers of innovation and economic growth. At Paragon, we are not constructing buildings, we are building the future of work across MENA.
We recognized that these businesses often face significant challenges, from accessing flexible, high-quality workspaces to managing operational complexities. WORK IN directly addresses these needs by offering fully serviced, smart office spaces. These offices allow companies to launch and scale up quickly, without the delays and costs typically associated with setting up operations.
With a variety of office sizes and centralized services, WORK IN provides a professional, adaptable environment suited to businesses at all stages.
By combining ready-to-move-in spaces, smart design, and full support, PARAGON is redefining modern workspaces and helping ambitious companies thrive in a dynamic, fast-growing market.
4. What are the biggest challenges currently facing Egypt's real estate sector, particularly regarding financing, regulation, or market demand, and how is PARAGON addressing them?
Egypt's real estate sector is experiencing dynamic shifts, with increased demand for sustainable, mixed-use developments and innovative financing solutions.
The evolving market conditions, including economic changes and shifts in consumer preferences, present opportunities for growth and transformation. There is also strong momentum for regulatory enhancements to streamline processes and boost transparency, which will further support the sector's expansion.
At PARAGON Developments, we embrace these changes as opportunities to innovate. By offering flexible payment options and collaborating with industry leaders to drive regulatory improvements, PARAGON is leading the way in creating vibrant, sustainable communities.
Our commitment to pioneering smart, eco-friendly designs ensures we are aligned with the market's evolving needs, positioning us for continued success in this transforming landscape.
5. As Egypt's real estate sector evolves, what is your vision for PARAGON's leadership role? And how do you plan to maintain your competitive edge in innovation, sustainability, and client service?
As Egypt's real estate sector continues to evolve, PARAGON's vision is to remain a pioneering force. It seeks to lead the transformation toward smarter, more sustainable, and human-centric developments.
As the first sustainable and intelligent office building developer in Egypt, our mission is to shape the future of the market. Hence, we create integrated spaces that empower individuals, support community growth, and set new benchmarks in quality and innovation.
To maintain our competitive edge, we focus on four key pillars: Design, Community, Innovation, and Sustainability. On the innovation front, we continuously integrate advanced smart technologies into our projects to enhance operational efficiency and elevate the user experience. Our buildings are designed to be responsive, intuitive, and digitally connected—qualities that are becoming essential in today's fast-paced business landscape.
6. What features make WORK IN stand out from other flexible office solutions in the market? And how do you see it shaping the future of work environments in Egypt?
WORK IN stands out for its seamless integration of flexibility, smart design, and comprehensive support. It offers a transformative approach to the modern work environment, combining prestige with purpose. With meticulously designed office spaces, ranging in size from 15 to 50 square meters, it meets the needs of businesses at various stages, enabling effortless scalability.
What truly differentiates WORK IN is its ready-to-operate model, eliminating the typical setup hurdles faced by startups and SMEs. Tenants benefit from high-speed internet, reception services, business center facilities like printers and scanners, relaxation lounges, and concierge support.
WORK IN is not coworking, it is a full-stack flex office ecosystem. Clients also gain access to marketing, legal, and accounting services, giving them a competitive edge and allowing them to focus solely on growth. On top of that, PARAGON HUB offers dynamic spaces for meetups, events, and endless networking opportunities.
Unlike traditional office spaces, it provides businesses with ready-to-operate offices, offering everything from high-speed internet and reception services to business center facilities like printers and scanners.
In the long term, WORK IN is shaping the future of work environments in Egypt by creating functional spaces that foster collaboration, innovation, and business growth.
7. How does the location of PARAGON.3, especially its proximity to the Presidential Palace and key institutions, enhance the value proposition for your clients?
The strategic location of PARAGON.3 significantly enhances the value of WORK IN's office spaces. This prime address offers businesses a prestigious presence, reinforcing their credibility and ambition.
Proximity to key government, financial, and diplomatic institutions provides our clients with unparalleled networking opportunities and visibility. It is not just about being in the heart of the New Administrative Capital, it is about being positioned in a way that amplifies brand prestige and fosters essential business connections.
8. PARAGON achieved EGP 1 billion in sales in 2023. What were the main drivers behind this growth, and what are your financial targets for the coming years?
PARAGON's sales achievements were driven by a combination of market demand for future-ready workspaces. They were also backed by our focus on smart and sustainable design and ability to deliver value through innovation and community development.
So far, we have launched three projects covering over 117,000 square meters of regenerative workspaces, with an additional 340,000 square meters currently under planning.
To date, we have sold more than 35,000 square meters of workspace, demonstrating strong investor confidence in our model. Looking ahead, our financial targets remain ambitious as we continue to scale up across new markets such as Saudi Arabia, expanding our footprint with cutting-edge, sustainable developments.
9. How is PARAGON integrating sustainable design and green building practices into its projects? And what are the biggest challenges in applying these standards in Egypt?
At PARAGON, sustainability is embedded in the core of our design and development philosophy. From the earliest stages of planning, we integrate green building practices and smart technologies to ensure our projects are eco-friendly and future-ready.
Through our strategic partnership with Schneider Electric, we implement advanced energy-efficient systems that significantly reduce environmental impact while enhancing occupant well-being.
Our buildings are equipped with IoT-enabled solutions and smart building management systems (BMS). This optimizes energy use by regulating lighting, climate control, and other utilities. This centralized, tech-driven approach allows us to create highly efficient, user-centric environments that align with global sustainability benchmarks.
As a result, all PARAGON buildings are LEED-accredited, and PARAGON 1 has also received the SmartScore Certificate—an international recognition of our commitment to smart, sustainable infrastructure.
10. Paragon has been active in supporting proptech startups and integrating technology into real estate. How does this impact your developments, and what role do technology play in shaping Egypt's real estate sector?
At PARAGON, we view technology as a critical enabler of smarter, more sustainable, and more efficient real estate development. Our commitment to proptech goes beyond adoption. We actively support and collaborate with startups that are driving meaningful innovation across the entire real estate value chain, from design and construction to operations and user experience.
By integrating technologies that enhance hybrid work models, digitize building maintenance, and improve operational efficiency, we ensure our developments are equipped to meet the evolving needs of today's businesses.
We also support solutions that address sustainability through eco-friendly construction materials, waste reduction, and smarter resource management, directly contributing to our environmental goals.
These innovations have a tangible impact on our buildings, whether through enhanced user interfaces, AI-driven services, or streamlined property management. Technology helps us create more connected, productive, and future-ready environments.
By fostering a strong proptech ecosystem in Egypt, PARAGON is helping to accelerate the digital transformation of the real estate sector and shape a smarter, more resilient urban future.
11. Finally, PARAGON is expanding into Saudi Arabia and other Arab markets. What opportunities and risks come with regional expansion, and how do you adjust your approach for different markets?
Our expansion into Saudi Arabia and other Arab markets is a strategic step in PARAGON's journey to become a regional leader in smart, sustainable development. These markets offer tremendous opportunities, especially in Saudi Arabia, where Vision 2030 is accelerating demand for innovative and integrated real estate solutions. There is a growing appetite for high-performance, community-centered spaces that support economic growth and diversification.
Looking ahead, PARAGON is preparing to expand its footprint in Saudi Arabia by developing and managing 200,000 square meters of office space by 2027, aiming to reach 500,000 square meters by 2030 across key cities like Riyadh and Jeddah.
By 2030, we plan to complete six development projects with a total of 360,000 square meters of built-up area (BUA). These projects will encompass a diverse mix of medium-rise standalone offices and integrated mixed-use developments that blend workspace with retail and hospitality components.
On the property management front, we plan to oversee 140,000 square meters across six projects, focusing on operational excellence, tenant satisfaction, and long-term asset value, offering flexible rental models tailored to market needs.
While we target six projects per category, our development approach remains agile, adapting the number of projects needed to meet BUA targets and optimize investment returns.
That said, each market presents unique challenges, from regulatory frameworks to cultural expectations. We approach every new territory with adaptability and respect for local context.
Our teams engage deeply with regional stakeholders to understand market dynamics, and we tailor our developments accordingly, whether in design, operations, or partnership models.
Rather than replicating a standard model, we bring our core values—Design, Community, Innovation, and Sustainability—into each new market, through implementing our strategic vision.
These principles guide every aspect of our work, ensuring that our developments create long-term value and meaningful impact. By remaining agile and purpose-driven, we are well-positioned to succeed across the region.
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