By: Abdallah Bedeir

Cairo – Mubasher: Pyramids Real Estate Group is pumping EGP 2.25 billion into two projects in the New Administrative Capital, the firm’s chairman said on Sunday.

One of the two projects is commercial and administrative development, while the other is a residential project, Ibrahim El Kholy told reporters during his tour in the new capital.

Spanning over 7,800 metres, the commercial and administrative project will be built under the name of Grand Square Mall with nearly EGP 750 million, El Kholy highlighted.

The seven-storey mall will be completed and delivered by the end of 2020, he indicated.

He noted that Grand Square Mall is the company’s second commercial project in the new capital.

He projected the company to generate around EGP 2.5 billion in units sale this year.

As for the residential project, La Capital Complex will be built over 13-acre at an estimated cost of EGP 1.5 billion, the chairman added.

He pointed out that buildings make up not more than 22% of the complex and the rest of the project is allocated for green areas, services, and entertainment activities.

He also unveiled another 36-acre residential project in the new capital.

Translated by: Mai Ezz El-Din