PHOTO
Workers wearing protective face masks stand on a building under construction in the New Administrative Capital (NAC), east of Cairo, amid concerns about the spread of the coronavirus disease (COVID-19), in Egypt May 6, 2020. Image used for illustrative purpose.
Egypt’s Sense Group will build three malls in Downtown area of New Administrative Capital (NAC) at a total investment of 950 million Egyptian pounds ($61 million), the company Chairman said.
Abdel Hamid Abdel Alal told Zawya Projects that the projects comprise of 150-million-pound ($9.6 million) Sense Mall 1; 300 million pound ($19 million) Sense Mall 2 and 500 million pound ($32 million) Sense Mall 3.
Alal said the 8-storey Sense Mall 1, designed by Hatem Ghieth, would be the first of the three malls to be launched, adding that the 75-unit mall will house shops and offices, and is scheduled for completion by 2024.
He said negotiations are underway with Administrative Capital for Urban Development (ACUD) to buy two plots for Sense Mall 2 and Sense Mall 3.
“Sense Mall 2 and Sense Mall 3 will also include medical and hospitality units. The projects will be launched before year end,” he said.
Future plans include projects in Upper Egypt, New Aswan and New Assiut, he disclosed.
The 25-year old Sense Group comprises of Sense for Ready-mix Concrete and Sense for Development and Project management.
(1 US Dollar = 15.66 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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