Latest news with #Brevan
Daily News Egypt
29-06-2025
- Business
- Daily News Egypt
Brevan Developments unveils new phase of Lake House in New Obour to meet rising demand
Brevan Developments has officially launched a new phase of its Lake House residential project in New Obour City, responding to increasing demand for integrated, modern living communities. Saeed Sakr, a board member at Brevan Developments, announced that the upcoming phase will introduce competitively priced residential units, accompanied by flexible payment options and discounts reaching up to EGP 3,500 per square meter. He highlighted the strategic location of the Lake House compound, situated adjacent to the New Obour City Authority and near the city's main entrance. Spanning over 9.5 feddans, the development includes 19 residential buildings and a commercial mall housing 135 retail stores, each with street frontage for maximum visibility. Designed to offer a complete living experience, the compound will also feature two swimming pools, an artificial lake, dedicated children's play areas, a cycling track, jogging paths, and ample landscaped green spaces. These amenities are supported by 24-hour security and guarding services. In total, the development includes 480 residential units and represents an investment of approximately EGP 2.5bn. Sakr outlined the variety of units available in the new phase, starting from 81 sqm one-bedroom studios, 136 sqm two-bedroom apartments, three-bedroom units at 155 sqm and 170 sqm, and spacious four-bedroom units reaching 215 sqm. Duplexes will also be offered, with sizes extending up to 335 sqm. Buyers can choose from tailored payment plans, such as a 15% down payment with installments over six years or a 25% down payment with the remainder paid over seven years. Construction is slated to begin within six months, with the first units scheduled for handover in June 2028. Brevan has contracted architect Mohamed Abdel Rahman Abu Kahla as project consultant and partnered with BEYOOT Engineering & Contracting and Al Saqr Contracting—firms recognized for their reliability and quality execution. In addition to the Lake House project, Sakr shared that Brevan Developments holds a broad and diverse land portfolio. This includes plots at Jamaran Resort in Sahl Hasheesh, Hurghada (currently under licensing), plots in New Cairo's Fifth Settlement under development, a commercial parcel in Obour under licensing, and the existing Lake House compound itself. The company also plans to launch two new commercial malls in Obour City, as well as the La Quanda compound in Sahl Hasheesh. These will be rolled out in parallel with ongoing development efforts across its current projects. Sakr concluded by emphasizing the company's strategic goal to expand into the New Administrative Capital and Egypt's North Coast. With over 15 years of experience in Hurghada and as one of the early investors in coastal urban development, Brevan Developments continues to self-finance its ventures while reinvesting proceeds from unit sales.
Business Insider
30-05-2025
- Business
- Business Insider
Millennium has hired two heavy-hitter PMs for its credit-trading business
Wall Street's largest hedge fund just got a bit larger, adding two more marquee traders to its credit business. Millennium, which manages $73 billion in assets and has more than 330 investment teams around the world, has hired Jonathan Grau, a partner at Laurion Capital, according to people familiar with the matter. Grau joined Laurion in 2016 and focused on corporate credit strategies, according to a company bio recently scrubbed from the firm's website. Millennium has also hired Christopher Reich, a rising star credit index trader from Brevan Howard, the people said. Reich trades indices linked to credit-default swaps and commercial mortgage-backed securities, according to his LinkedIn profile, and worked at One William Street Capital and JPMorgan before joining Brevan. Representatives for Millennium and Brevan declined to comment, and Laurion did not respond to requests for comment. Credit has been the most in-demand strategy among hedge-fund allocators in recent years, though appetite dampened heading into 2025, according to a Goldman Sachs survey. The hires of Grau and Reich come on the heels of another major credit hire. Bloomberg reported in March that Millennium poached LMR Partners' US head of credit, Thomas Malafronte. Malafronte is a former Goldman Sachs partner who burnished his reputation in the mid-2010s trading junk bonds. Millennium, run by billionaire Izzy Englander, was down 1.4% through April after an unusually rocky start to the year that saw the firm lose money in back-to-back months in February and March. It gained 15% in 2024.
