Empire State Developments is set to launch a new commercial project in the New Administrative Capital, covering 5,000 sqm with a total investment of EGP 2 bn, Invest-Gate reports.

Chairman Mostafa Mohsen revealed that construction is expected to begin in the first quarter of 2025, following the recent allocation of the land from the New Administrative Capital Company.

Moreover, the project is designed to meet the growing demand for commercial spaces in the area, continuing the company’s track record of success in the local market.

“The New Administrative Capital is the future, and this project aligns with our ongoing expansion plans,” Mohsen stated. The new development will include a range of amenities, such as four cinemas, restaurants, cafés, and a gym. Mohsen also noted that the company would retain ownership of some units to maintain quality after the project’s completion.

Empire State Developments is also working on Centro Mall, a strategically located project in the Downtown area, spanning 5,231 sqm and featuring 15 floors. The company aims to invest EGP 17 bn in future developments across East and West Cairo.

Additionally, the firm is exploring a regional partnership with a major Saudi entity to invest jointly in Egypt and Saudi Arabia.

Mohsen emphasized the importance of high-quality post-development services, including maintenance, which enhances the long-term value of properties for clients.