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Contact Developments held a press conference in the presence of many businessmen, the press and the media, during which it announced its third project, which is Cayo Mall in the New Administrative Capital.
Dr. Ahmed Fikry, Chairman of the Board of Directors of the company, stated that the project is an integrated commercial mall in the Administrative Capital, which is characterized by a vital and distinguished location, as it is located in the shopping zone in the heart of the DownTown in front of Al-Massa Hotel, which is one of the highest areas in terms of implementation rates in its project.
He confirmed that the area of the mall is 7,100 square meters, and the project was designed with a double-glazed façade that enables you to see what is happening outside. The width of the main façade is 110 meters, and the other façade is on an axis of 70 meters, and the main walkway of the area is 40,000 meters.
Dr. Fikry added that the volume of project investments is estimated at 1.3 billion pounds, explaining that the project includes commercial units of various sizes starting from 35 square meters up to 200 square meters.
Eng. Khaled El-Seoufi, Managing Director of Contact Developments, stated that the project is an extension of the company’s chain in the New Administrative Capital, and this reflects the extent of the Egyptian real estate market’s success in attracting local and foreign investors, especially in the modern cities that the Egyptian state established, the most important of which is the New Administrative Capital, the most important and distinguished national project.
Engineer Khaled also said that the project consists of a ground floor and 4 recurring floors, and the project is scheduled to be completed within approximately 3 to 5 years, indicating that the excavation work has been completed and construction work is underway.
Eng. Khaled indicated that the project will serve a large number of neighboring companies because it contains the largest food court area in Downtown, with an open area of about 2200 meters.
He explained that Contact Developments aims, through its expansion plans, to increase the volume of its investments in the New Administrative Capital by 400% during the year 2023, stressing that the company is seriously seeking to contract with major consulting firms locally and internationally in order to make the most of its expertise and offer the best distinguished real estate product that is compatible with the highest standards. Local and international specifications, which has already been achieved by contracting with the “DMA” design and engineering consultancy office for Mall of Cayo and the giant “Samco” contracting company.
Eng. Khaled Al-Seoufi indicated that the company has knocked on investment doors in the New Administrative Capital with a new and unconventional idea that is in line with the state's drive for urban expansion and the launch of fourth-generation smart cities.
Source: Al Nabaa Journal
