Egypt’s Cornerstone Development announced on Tuesday that it has awarded various contracts for Terraces, its upcoming mall project in New Administrative Capital (NAC).

The company said it has awarded the design contract for the 4-storey mall to an un-named New York-based architectural firm, while local firms Yasser Al Beltagy Architects (YBA) and ACE Moharram.Bakhoum have been awarded the engineering consultancy and construction supervision contracts respectively.

Chairperson and Managing Director of Cornerstone Development Ashraf Boulos said that the project, which is its second project in the NAC, will include units for offices, shops and clinics, and would be built using sustainable materials.

The statement didn’t disclose the project costs.

Regarding the company’s first project at the New Capital, The Curve, Boulos disclosed that more than 70 percent of the project has been completed, and the entire construction will be completed in 2024. He said delivery is scheduled to begin during the first and second quarters of 2025.

The Curve consists of four blocks comprising 15 buildings with 100,000 sqm built-up area, and containing 540 residential apartments, duplexes, and penthouses.

(Writing by Eman Hamed; Editing by Anoop Menon)


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