Egypt - K Developments has launched Palencia Plaza, a mixed-use project in Shorouk City, east Cairo, with investments estimated at EGP 1.5bn.

The development forms part of the company’s expansion strategy in commercial, administrative, and medical real estate.

Chairperson Omar El-Fayoumi said the project reflects K Developments’ focus on areas with rising demand for non-residential property, particularly in new cities experiencing population growth and expanding service-sector activity. He noted that the location was carefully chosen within an established residential area in Shorouk, ensuring a stable user base and consistent activity. The site also benefits from proximity to major roads, including the Suez and Ismailia highways, the Ring Road, and New Cairo, as well as destinations such as Madinaty’s Open Air Mall, the French University in Egypt, and the British University in Egypt.

Palencia Plaza is being developed over approximately 6,000 sqm on Al Horreya Street, one of Shorouk’s main arteries. The project comprises a ground floor and three repeated floors (G+3), offering a mix of commercial, administrative, and medical units in varying sizes. Administrative and medical units will be delivered fully finished and equipped with air conditioning systems.

The development also incorporates operational and service facilities, including parking spaces, elevators, security systems, backup generators, and retail areas. It is designed by YBA under the leadership of Eng. Yasser El-Beltagy, with an emphasis on functional layouts and modern architectural standards.

K Developments is offering flexible payment plans starting from a 10% down payment, with installments extending up to eight years. Palencia Plaza is being launched in parallel with the company’s residential project, Palencia Al Shorouk, as part of a broader expansion plan that includes new developments in the North Coast and New Cairo.

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