Jawad Developments eyes achieving EGP 1bn in sales of VAL Plaza project in west Cairo
Egypt’s real estate developer Jawad Developments has launched VAL Plaza project in 6th of October City, west Cairo, with an expected sales volume worth approximately EGP 1bn.
CEO of Jawad Developments Dr. Adel Abdel Jawad stated that the VAL Plaza is a top-notch administrative, commercial and wellness center project spans over 6,250 sqm with a 11,300-sqm built-up area, in a very privileged location on the 26th of July Axis in and nestled in the heart of 6th of October City. VAL Plaza comprises about 175 diverse units, including 120 commercial units, and 55 medical and administrative units.
Dr. Adel Abdel Jawad said that the company has obtained construction licenses and has already begun construction works of the mall.
Dr. Abdel Jawad added that the company plans to complete the entire project constructions within two and a half years, noted that the mall’s engineering designs were designed by Dr. Faisal Abu Al-Azm Chairman of International Engineering Consultancy (IEC) the engineering consultant for the project.
He further pointed out that negotiations are currently underway with a group of the most important international companies specialized in project management to manage and operate the entire project after its handover.
The VAL Plaza is being marketed in 3 different phases. The first phase has been completely sold out and the second phase is being marketed, meanwhile, the third and final phase is expected to open its reservation during the current month. Moreover, Jawad Developments has decided to keep 20% of the total commercial units as its own property to lease and manage them, so that these units generate a fixed and continuous investment return for the company, according to Dr. Abdel Jawad.
The company provides multiple payment systems to suit different customer segments by making installments available over 4, 5, and 6 years with down payments starting from 0%, in addition to granting various discounts on cash payments, in addition to, providing clients with diverse payment plans according to the market needs, the company’s CEO disclosed.
The CEO highlighted the company’s commitment to leasing shops to international brands in order to preserve the investment return for customers after operating the mall as well as enabling different businesses and enterprises to coexist in the same cutting-edge commercial environment.
“The project is unique with a variety of services, between basic and recreational services such as central air conditioning that covers all parts of the mall, high speed elevators, luxury business lounge, equipped meeting rooms, kid area and others, in order to provide all means of comfort and luxury to customers,” Dr. Adel Abdel Jawad explained.
He revealed that the company plans to launch a new residential project in Sheikh Zayed City, west Cairo, where negotiations are currently underway on the project land plot. Additionally, the company owns a diversified project portfolio in west Cairo, including a tourist walkway project on 70,000 sqm situated on the main Wahat Axis and another branded residences project stretches over 2,500 sqm and encompasses 80 serviced units.
Jawed Developments has a great belief in the importance of the west Cairo region thanks to the existence of real investment opportunities in it due to the higher population density than the east Cairo region. Besides, the urban expansions and continuous development projects namely the establishment of the Grand Egyptian Museum, as well as the Sphinx International Airport and the monorail that will link the west Cairo region with all regions of Cairo, which will have a great impact in attracting investors to that region, Dr. Adel Abdel Jawad concluded.
