Under the deal, Raya Smart Buildings, a subsidiary of Raya Holding, will manage, operate, and lease Building C5, located on the Central Axis in the government district.
ACUD Chairman and Managing Director Khaled Abbas and Raya Smart Buildings CEO Ahmed Ibrahim signed the deal.
ACUD stated that the move is intended to enhance the building’s investment value by outsourcing its management to a specialized operator. It added that Raya will receive a share of the building's revenues from ACUD.
Raya Smart Buildings said the partnership builds on its experience in managing smart and green buildings, including projects such as Galleria 40 in Sheikh Zayed and the EDGE workspace development.
The company, which provides real estate asset management and smart building solutions, has also expanded regionally, including into the Saudi market.
Abbas said the agreement reflects the company’s strategy to partner with private sector firms to improve asset management and service delivery within the government district.
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