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Egyptian private developer K Developments has launch Palencia Plaza commercial project in Al Shorouk City, East Cairo at an investment cost of EGP 1.5 billion ($28 million).
Chairman Omar El-Fayoumi told Zawya Projects that the project, designed as ground floor plus three upper floors, spans an area of around 6,000 square metres (sqm), and includes medical, retail and office units.
YBA Architects has designed the project, he added.
El-Fayoumi said Al Shorouk City was selected due to advanced urban development levels and rising occupancy rates that are creating demand for commercial, office and healthcare assets.
The company said the launch builds on progress at Palencia Al Shorouk, its residential development spanning 10.5 feddans with investments of EGP3 billion ($57 million). The project features 17 residential buildings and has achieved 70 percent completion rate in the first phase, which is scheduled for completion and delivery this year.
2026 pipeline
El-Fayoumi K Developments is targeting EGP2 billion ($38 million) in sales during 2026. Its expansion plan includes a beachfront project on the North Coast, a premium commercial development in New Cairo.
1 US Dollar = 53.02 Egyptian Pounds)
(Writing by Eman Hamed; Editing by Anoop Menon)
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