Dolmen Developments has begun construction work on its The Pier Mall project located in the New Administrative Capital (NAC), according to the company’s Chairperson, Abdelazim Khalil.
The project, the company’s first development project in the NAC’s Al Maqsad District, spans an area of 3,000 sqm.
Khalil said that Dolmen Developments plans to direct investments worth EGP 30m into The Pier Mall during the first six months of its implementation. A total of EGP 85m will be allocated over the 26 months of the project’s development period.
Worth a total of EGP 400m in investments, The Pier Mall is located in the NAC’s R3 district. It will have a total built-up area of 6,500 sqm. It consists of a ground floor, and two commercial floors that will be comprised of 150 stores, as well as an administrative floor.
Khalil added that the company is planning to complete 40,000 metres of drilling at the project site by the end of this month. Excavation work is being carried out over the project’s entire area, with ARKAN Engineering Consultancy supervising the mall’s construction.
He explained that the company has completed marketing for about 65% of the mall, and is offering various payment systems with payment periods of up to eight years.
Khalil pointed out that the company has two other plots of land at the NAC, and is preparing to launch its second project in the Al Maqsad District in the NAC soon.