Contact Developments company announced during a press conference in the presence of a group of businessmen, press and media about its third project Cayo Mall in the New Administrative Capital.
Dr. Ahmed Fekry, Contact Developments Chairman, said that the project is an integrated commercial mall and is characterized by a vital location, as it is located in the promenade and marketing area in the heart of the Down Town in front of Almasa Hotel, which is one of the highest areas in terms of implementation rates in its project.
He revealed that the project area is 7100 square meters on two distinct facades, as the main facade is 110 meters wide and the other is on an axis of 70 meters and the main walkway to this area is 40 thousand meters.
Fikry added that the project’s investment volume is estimated at 1.3 billion pounds, pointing that the project includes units of various sizes, starting from 35 square meters and up to 200 meters.
For his part, Eng. Khaled El Seyoufi, the managing director of the company, said that the project is an extension of Contact series in the New Administrative Capital and reflects the success of the Egyptian real estate market in attracting local and foreign investors, especially in the new cities constructed by the Egyptian state, specially the New Administrative Capital, the icon of national projects.
He added that the project consists of a ground floor and 4 floors, and it is scheduled to be ready for delivering within 3 years, noting that excavation works has been completed and preparations for construction work are underway.
El Seyoufi pointed that the project serves a large number of neighboring companies, because it includes the largest food court in “Downtown” with an open area estimated at 2,200 meters.
He explained that “Contact” aims through its expansion plan, to increase the volume of its investments in the New Administrative Capital by 400% during 2023, emphasizing the company’s insistence to contract with major local and international consulting companies to benefit from their expertise and offer a more distinguished real estate product that aligns with the highest local and international standards and specifications, which has already been achieved by contracting with “DMA” design and engineering consultant office for the project and the giant “SAMCO” contracting company.
He pointed that the company knocked investment doors in the New Administrative Capital with a new and unconventional view that aligns with the state’s vision for urban expansion and the inauguration of smart fourth-generation cities.