Pyramids Developments for real estate announced the launch of administrative units and offices over 60,000 sqm for sale in its Paris mall after selling commercial units worth EGP 800m.
According to the company’s Chairperson Hisham El Kholy, the project spans over 23,600 sqm in the New Administrative Capital (NAC) with a total built up area of 85,000 sqm with EGP 2bn expected investment.
The company facilitates the payment system on buyers through 20% down payment, while the first instalment is attained after operating the unit, El Kholy elaborated.
The client will not be obliged to pay any dues for the unit except the down-payment and 10% maintenance deposit paid on delivery.
He added that Pyramids will be responsible for leasing and managing the customer’s unit in return for a profit rate of 18% for the client. Therefore, Pyramids contracted with specialised companies and offices from outside and inside Egypt to manage the malls owned by the company.
“The company is distinguished by providing various spaces that suit the needs of every customer starting from 18 square metres, with 10-year payment plans without interest,” he noted.
The mall was part of the company’s expansion plan with a number of new and diverse projects in the NAC.
It consists of ground and seven floors comprising 600 units varied between offices, commercial, and medical units. Furthermore, it includes Aqua Park and mobile theatre, in addition to a large entertainment area for the public in front of the mall.
El Kholy revealed that the mall will be delivered and operated in 2021 according to the state’s plan to operate the government district.