Valda Developments announced the completion of 80% of the construction work of the Rove commercial and entertainment complex, situated on the Middle Ring Road in 2024, Invest-Gate reports.

Mohamed Abdel Moneim, CEO of Valda stated that the developer poured over 20,000 cubic meters of concrete and finished all buildings at the 29,000 sqm development, in addition to starting facade work in October.

To offset rising costs during the pandemic, an EGP 250 mn contract was signed with Electromechanical Energy & Contracting Solutions (ECS).

Abdel Moneim said acceleration and studies averted inflation’s full effects, with implementation expenses rising over 50% instead of 100%.

Rove is slated to begin unit deliveries in 2024. Its New Cairo location will see investor leasing and operation start next year when market prices are projected to yield doubled returns.

Valda launched in early-2020 through a partnership developing various Cairo projects. Rove breaks new ground as the capital’s first commercial installation directly serving the Middle Ring Road.