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First Group directs EGP 300m in Kazan Plaza mall - Daily News Egypt

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First Group directs EGP 300m in Kazan Plaza mall

Company targets achieving EGP 800m in sales of Kenz compound, says Mostafa  

First Group for real estate investment, the real estate developer for KENZ Compound in the Sixth of October city, directed EGP 300m in Kazan Plaza mall in Sixth of October, according to the chairperson of the company, Bashir Mostafa.

Mostafa said that the company has achieved EGP 200m in sales of Kazan Plaza mall, which represent 50% of the mall. Mostafa added that the company will offer the rest 50% of the project next year.

During a tour for journalists on Monday, Bashir noted that the project includes commercial and administrative units, and it comprises clinics unit as well. It includes four buildings encompassing commercial shops, administrative offices, and medical units with spaces ranging between 50 and 600 sqm.

He pointed out that the company will sell the administrative and medical units, and to rent the commercial units. The project will be maintained and managed by a company affiliated to First Group, in order to guarantee the quality of the mall’s services.

He explained that two administrative and medical buildings were integrated into the project and marketed, with the remaining two integrated in the coming year.

He noted that the company intends to deliver the whole Kenz compound in 2020, with investments of EGP 800m and target sales of EGP 1.5bn of residential activities.

Kenz compound spans over 30 feddan, and includes commercial and residential activities.

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