EdgeStone Contracting Company announced on Saturday the launch of Rock Gold Mall in the Fifth Settlement, the first specialised mall in gold jewellery in Egypt.
The project will be developed by El-Batal Developments. The first phase will be launched this month, with target sales exceeding EGP 600m. The whole project’s total target sales is over EGP 1.5bn.
The World Gold Council said that the Egyptians spent nearly $1.3bn on gold during the first nine months in 2021, compared to EGP 842.4m during the same period of the previous year.
EdgeStone is one of the leading companies in the field of project management in the commercial field and malls. This project culminates its success in establishing Tucano Commercial Complex located in Nasr City, which attracted major brands in the Egyptian and international market such as Alshayaa Egypt, Americana and Spinneys and others.
El-Batal is also one of the largest real estate developers in the Egyptian market, with projects in the Fifth settlement, 6th of October, the New Administrative Capital, El-Obour, and Heliopolis, with investments exceeding EGP 12bn.
Shady Samir, head of the sales sector and board member of EdgeStone, said that the cooperation with El-Batal in the Rock Gold project is based on a unique idea that meets the needs of the gold makers sector in Egypt, and finds solutions to the problem of these residents living in new urban areas. This mall is the first to bring together more than 150 stores of different sizes to suit customers’ needs and serve areas inhabited by more than 5 million people. It offers payment systems up to four years, along with competitive prices for the first phase, in addition to providing the latest methods of insurance and security.
Shady indicated that EdgeStone is currently establishing a new administrative commercial project in Sheraton Heliopolis.