Arabisk Development plans to launch an administrative commercial mall in Obour City at 2,500 sqm, Invest-Gate reports.

The company targets to achieve EGP 300 mn in sales from the project.

Arabisk is set to launch a series of commercial and administrative projects in new cities, the company’s Chairman, Abdel Hamid Al-Wazir, says.

The company expanded its administrative structure during the last period, Al-Wazir adds.

He notes the real estate sector witnessed price increases of no less than 30% during the last period, due to price fluctuations in building materials, and a large increase in the prices of finishes, which led some companies to resort to stopping their sales until a clear vision of the real estate market appears.