FSG Development announces opening reservations for the first phase of the Palma Mall project in the Down Town area in the heart of the New Administrative Capital (NAC), Invest-Gate reports.

Launched in March, Palma Mall is a commercial and administrative project with a total area of around 45,000 sqm and a built-up area of 30% of the project.

Michael El-Assiouty, Chairman of FSG Developments, says that Palma Mall is the company’s sixth project in NAC, and is implemented under the supervision of the International Engineering Consultancy Co. (IEC), while its operations are undertaken by MRB for facility management consultation.

For his part, Tarik Sabry, Executive Director of FSG Development, notes that the project’s total unit area amounts to 45,000 sqm. The project includes a ground floor and 14 recurrent floors, along with a multi-floor garage, with a Smart Parking system.

He adds that there are separate entrances for commercial units, from the ground floor to the third floor, while the administrative floors are from the fourth floor to the 13th floor, and the 14th one is for administrative offices with panoramic views.

Sabry mentions that the company offers flexible payment plans of up to 10 years, with a minimum down payment of 5%.

It is worth noting that FSG Development owns a group of projects in NAC, including the Floria compound, Rixos Mall, and Blue Mall, which is set to be opened in the first quarter of 2024.