Locations Developments launches its third project, “Vida West Mall,” in the downtown area, in the New Administrative Capital (NAC), with investments of more than EGP 500 mn, Invest-Gate reports.

On this occasion, Ahmed Deif, a member of the company’s board of directors, explains that “Vida West Mall” is a mixed-use project (commercial – administrative – medical) that covers an area of ​​2,400 sqm, and is located in the most distinguished location in the downtown area; in front of the entertainment district.

Furthermore, the project includes a ground floor, first and second floors for commercial units, the third floor is for medical activities, and from fourth until the eighth floors are for administrative spaces. Additionally, the company has contracted with the engineering consultant (Centroid), and Diyar Misr as a general contractor for the project.

In a related context, Yahya Abu Jabal, a member of the board of directors of the company, reveals that the company is negotiating with several management companies to sign a cooperation protocol to manage the project. He adds that the implementation of the project is scheduled to start within 9 months and to deliver within 3 years.

It is worth noting that “Vida West Mall” is the company’s third project after its “Marvel Mall” projects in the MU23 area, with investments of about EGP 600 mn, and the “Vida Mall” project in the heart of downtown, at a cost of EGP 400 mn, in addition to the company’s plan to launch the fourth project in downtown at Block 1, in front of the Parliament for EGP 750 mn.

Besides, Mohamed Gamal, head of the company’s commercial sector mentions that it is planned to boost the company’s investment portfolio to hit EGP 2 bn by 2022, as the company owns a big land portfolio in NAC.