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13 March, 2019

Egyptian developer plans new mall in Sheikh Zayed City

The project would be developed over an area of 3,000 square metres

13 March 2019
Egypt's Demand Developments is planning to build a mall in Sheikh Zayed City at cost of about 250 million pounds ($14.34 million), the company said in a press statement.

The project would be developed on land owned by Saudi Arabia's Al Sharif Yehia Group, the company said in a press statement issued last week.

The statement, quoting Chairman Andrea Mikhail, said feasibility study and engineering designs for the project have been completed and construction would start within a year from the laying of the foundations. Mikhail didn't elaborate on the timelines for start of construction and completion.

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The statement said the mall would be developed over an area of 3,000 square metres and house medical, office and retail units, adding that administrative and medical units would be sold while the retail units would be rented out.

(1 USD = 17.43 Egyptian pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)


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