Pyramids Developments is looking to achieve sales of EGP 1.5 billion from its Grand Square Mall in the New Administrative Capital this year, the company’s chairman said.
The Egyptian real estate firm has logged EGP 700 million in sales from the mall, Hisham El Kholy told reporters in a press conference, noting that the Grand Square Mall has commercial, administrative, and medical activities.
Spanning 7,800 metres at the new capital’s money and business hub, the mall has been built with around EGP 750 million in investments.
El Kholy also said that the company would begin the construction of two new tourism projects in the second half of 2019, the first of which is a global project that would be established over 165 acres in collaboration with French and Spanish partners, while the other will be built over 225 acres in the North Coast at the 265-km mark.
On another note, El Kholy revealed that Pyramids Developments had completed the construction of a school in El Mahalla El Kubra, in addition to international schools in the new capital.
The property developer is currently considering developing the last residential complex at r8 in the new capital, the chairman noted, indicating that this would by Pyramids Developments’ second project in the new capital after its development of La Capitale in r7.