Golden Town Developments announces the launch phase I of its second project (Cascada), in the NAC, with EGP 500 mn investments, Invest-Gate reports.
The company expects to achieve sales of more than EGP 750 mn.
Raafat Maher, chairman of Golden Town Developments, says that the Cascada Mall is a mixed-use project in the Downtown area, near the Green River and the Monorail station.
For the first time in the NAC, the project includes a suspended restaurant with a waterfall and six floors high on the main facade of the mall.
Cascada spans over 2,664 sqm and features a ground floor and 10 floors. From the ground floor to the 3rd floor are allocated for commercial activity. From the 4th to 7th floor for the administrative activity. While the 8th and 9th floors include hotel units. As for the 10th floor, it is allocated for hotel services.
Maher reveals that the company has signed a 5-year contract with MRB to manage and operate the Cascada Mall. Further, Golden Town contracts with FRS company to be the project consultant, as well as the executive consultant and general contractor Samcrete Company to supply concrete slabs.
Golden Town rolls out a diversity of systems that provide large and quick returns. There is a half-down payment system with a simple down payment and a real estate certificate that achieves a greater return, as it provides a 16% return. Additionally, the company’s systems start with a 10% down payment and installments for up to 10 years. Coinciding with the launch of Cascada’s phase I, the company announces that it will offer an additional special discount to customers of 15%.
On the other hand, Golden Town is to pump a large group of investments in and out of the NAC. As the company’s expansion plan includes the implementation of a hotel residential project in the North Coast and many projects in the NAC. It is scheduled to pump about EGP 2 bn investments during the period coming.
It is noteworthy that the Cascada Mall is the second project of Golden Town after the Fort Tower project in Downtown, which is a medical, administrative, and commercial project.