Hometown Developments announces that the construction rate in the La Fayette Mall project in the New Administrative Capital has reached 50%, Invest-Gate reports.
Hometown’s Chairman, Diaa El Din Farag, says that the acceleration of the project’s implementation pace bridges the gap between the sales price and construction costs, as inflation in prices of building materials caused differences between marketed and actual prices.
Situated on 23,000 sqm, La Fayette Mall is located in NAC’s Down Town district, in front of Al Masa Hotel and directly next to the Central Station of the Monorail.
The project features 25,000 sqm of landscape and comprises a ground floor, five duplicate floors, and two basements.
La Fayette Mall includes around 600 commercial shops, 85 restaurants and Cafes, an 80,000-sqm sales space, a kids’ area, an ice-skating area, and a dancing fountain.