ERA Commercial Egypt has signed two major contracts to market two commercial projects, CEO Mahmoud Younis told Daily News Egypt.
The first of which includes commercial, medical, and management of offices in the 5th Settlement, while the second is a commercial, logistical entertainment project located in Tanta in Gharbeya governorate.
Dubbed Trivium and owned by Genena Group, ERA will be in charge of marketing and consulting on the project in 5th settlement.
The project is expected to achieve EGP 550 million worth of sales in 18 months; as there will be 155 units divided in to 80 administrative units, 60 clinic units, and 15 commercial units.
As the project is in the finalization phase, the company has already managed to sell 15% of the complex worth of EGP 80 million in July and the marketing phase will start in October; however the project will be delivered within two years from the date of the contract.
The units include sizes of 37 square meters fully furnished with facilitated payments.
Younis also stated that the second project that involves commercial, logistical entertainment in Tanta will be developed by American Fern Pro Company; a logistic center built on an area of 344,000 square meters.
ERA will be responsible to market and consult on the project for 24 months that will include a commercial area measuring on 135,000 square meter that will consist of a regional mall serving the Delta region and its 42 million people.
The American company and its partners in the Gulf contributed in a total investment worth of EGP 2 billion as interest on investment in the project is expected to reach up to 35% per annum of the total value of investments.
The company has completed the marketing of 60% of the project including the shopping mall but and discussing with the American company the capability to manage the project’s hotel.
Younis also added that the project will also include warehouses, refrigerators to serve the Delta region and a leisure area attached to the hotel.
The commercial space in the project area is said to measure on 60,000 square meters dedicated to exhibitions and car maintenance centers while the logistics area measure up to 100,000 square meters and the entertainment area measures up on a 50,000 square meters.
The logistics area is expected to host a Pharmaceutical Company that will be built on 25,000 square meters to establish pharmaceutical warehouses. While Mazloum home will host a ceramic exhibition that will take up to 4000 square meters of the logistics area.