Arabisk Development has announced the launch of Khan El Wazer, its latest commercial project in New Cairo, during an event attended by prominent real estate developers, journalists, and company executives, Invest-Gate reports.

Company Chairman Dr. Abdelhamid Al-Wazir stated that Arabisk Development, with over a decade of experience in the real estate sector, integrates modern architecture with traditional heritage in its projects. He emphasized that Khan El Wazer embodies this philosophy, making it the first mall with a distinctive architectural style, creating a historical landmark for visitors.

With an investment exceeding EGP 700 mn, the company targets EGP 1 bn in sales during the first quarter. The project is self-financed through Egyptian-Emirati investments and spans 2,250 sqm.

Al-Wazir highlighted that the company aligns with Egypt’s urban development vision, as the real estate sector contributes 23% of GDP. Arabisk plans further expansions, including a 16-feddan project in Obour City valued at EGP 13 bn and a North Coast resort, with both projects expected to exceed EGP 20 bn in total investments.

CEO Ahmed Samir described Khan El Wazer as a milestone for commercial developments in New Cairo, designed by leading partners Archrete incommercial and Dealers Studio. He emphasized the company’s commitment to delivering projects on schedule to maintain trust with clients and ensure high investment returns.

Sales Director Eng. Ahmed Attia noted that the project will be launched in phases, with unit sizes ranging from 22 sqm to 150 sqm, catering to both major brands and small investors.

Eng. Mohamed Tamam, head of Archrete, emphasized the project’s unique blend of modern and historical architecture, a first among the 110 projects his firm has designed. Dealers Studio Chairman Abdelrazek El Shehi added that Khan El Wazer aims to merge past and future, offering a distinctive commercial and cultural experience. He stressed that the project is distinguished by its strategic location, as it is close to Rehab City, Madinaty, the Public Prosecutor’s building, and two minutes from North 90th Street, which makes it a good investment opportunity for all clients looking for commercial, medical and administrative units in this location, with high investment returns.