Egypt’s developer Pyramids Developments announced the launch of Pyramids City in the New Administrative Capital with EGP 25bn investment.
Chairperson of Pyramids Developments, Walid Eltayb, said that the 140-feddan development will comprise stores, offices, medical units, as well as entertainment and hospitality components.
Eltayb added that Concreative Consultancy is the engineering consultant and Mohamed Talaat Architects is the architect for the project.
He noted that the company is negotiating with two companies to finalise the construction works of the project.
He further pointed out that the real estate market has witnessed successive changes since the COVID-19 outbreak, in addition to the impact on purchasing power of customers, which prompted it to devise various marketing mechanisms for customers in all its projects.
He disclosed that the company is currently preparing the first opening in the New Capital, an administrative mall, Grand Square Mall, before the end of the year.