Jawad Developments, Egypt’s real estate developer, has announced launching the VAL Plaza project in the 6th of October City, west Cairo, with an expected sales volume worth approximately EGP 1 bn, Invest-Gate reports.
CEO of Jawad Developments, Adel Abdel Jawad, stated that the VAL Plaza is a top-notch administrative, commercial, and wellness center project that spans over 6,250 sqm with an 11,300 sqm built-up area. Moreover, VAL Plaza comprises about 175 diverse units, including 120 commercial units, and 55 medical and administrative units.
Besides, Abdel Jawad revealed that the company has obtained construction licenses and has already begun construction works on the mall. He added that the company plans to complete the entire project construction within two and a half years, noting that the mall’s engineering designs were designed by Faisal Abu Al-Azm, Chairman of International Engineering Consultancy (IEC), the engineering consultant for the project.
He further pointed out that negotiations are currently underway with a group of the most important international companies specialized in project management to manage and operate the entire project after its handover.
Abdel Jawad comments, “The project is unique with a variety of services, between basic and recreational services such as central air conditioning that covers all parts of the mall, high-speed elevators, luxury business lounge, equipped meeting rooms, kid area, and others, to provide all means of comfort and luxury to customers.”
The VAL Plaza is being marketed in three different phases. The first phase has been completely sold out; meanwhile, the second phase is being marketed, and the final phase is expected to open its reservation during the current month.
Moreover, Jawad Developments has decided to keep 20% of the total commercial units as its own property to lease and manage them, so that these units generate a fixed and continuous investment return for the company.
Furthermore, Abdel Jawad mentioned the company’s keenness to lease shops to international brands to preserve the investment return for customers after operating the mall.
The company provides multiple payment plans to suit different customer segments by making installments available over four, five, and six years with down payments starting from 0%, in addition to granting various discounts on cash payments.
On the other hand, Abdel Jawad pointed out that the company plans to launch a new residential project in Sheikh Zayed City, west Cairo, where negotiations are currently underway on the project land plot.
It is noteworthy that the company owns a diversified project portfolio in west Cairo, including a tourist walkway project of 70,000 sqm on the main Wahat Axis and another branded residences project that stretches over 2,500 sqm and encompasses 80 serviced units.
