IC Group has commenced the handover of its 4,800-square-meter commercial project in New Cairo, or “Life Mall,” in a bid for official opening and operation in Q1 2021, Invest-Gate reports.
Developed with costs estimated at EGP 600 mn, the two-story complex consists of 140 commercial units and more than 70 warehouses, Mohamed El Sherif, the company’s general sales manager, confirmed in a press release on December 13.
Properties are currently being delivered to 180 customers, El Sherif further stated, underlining that IC Group has contracted with a shopping center management company to handle the overall operation and maintenance of the entire facility.
Accordingly, several end-to-end solutions will be provided to possible clients, namely the rental of units at a value ranging from EGP 200 to 500 per square meter, depending on total area, location, and other features.
With more than 25 years in real estate development, IC Group has so far delivered over 3,600 properties with a variety of residential, commercial, and administrative activities, stretching across a total of 1.7 mn square meters.
The Egypt-based developer’s latest project is the “Gold Mall” in the New Administrative Capital (NAC), which specializes in gold and diamond trading. That is in addition to “The Office,” which comprises a mix of commercial, administrative, medical units at the heart of NAC’s financial district.