Construction works on the Grant Square Mall in Egypt’s first integrated smart city known as the New Administrative Capital (NAC), is set to commence with a total investment estimated at US$42m.
Hesham ElKhouly, Chairperson of Pyramids Developments confirmed the reports and said that the company has already began drilling works for the construction project which will be the first commercial administrative medical mall in the business district.
He said that the Grant Square Mall is designed in modern French style comprising a ground floor and seven floors for mixed-use purposes, where the first and second floors are allocated for shops, and the third floor for medical clinics, the fourth and fifth floors are for administrative offices, while the sixth and seventh floors will be a hotel.
The mall is distinguished by its unique location in the business district, located directly opposite the presidential palace, the cabinet, the governmental district, and next to parliament. Moreover, the mall is being surrounded by universities and entertainment areas. In this strategic location, the mall is expected to double its initial investment value.
The mall is expected to be complete and fully functional by the end of 2020, according to a plan set by the Administrative Capital for Urban Development (ACUD) Company. Pyramids Development is a real estate development company with the mandate to execute construction of the Grant Square Mall.
The Grant Square Mall l, is considered the company’s third project in the Pyramids Development. ElKhouly said that they believed in the feasibility of investment in this giant national project, since NAC is the first integrated smart city in Egypt.