Chairperson of Akadia Developments Hana Raouf said they plan to sell out the last phase of Pagoda Business Complex in the New Administrative Capital (NAC) within two months relying on the uniqueness of the project and distinctive payment systems the company offers to its clients.
She noted that the project’s target sales amounted to EGP 500m in sales, and its actual sales have recorded EGP 380m since its launch last March.
Pagoda is a medical, administrative, and commercial mall in the NAC’s Downtown area. It was built on an area of 2,144 square metres. The complex comprises 11 floors, and overlooks the gold market and the monorail. It is only three minutes from the Green River, in front of the People’s Square and next to the financial and business district.
The last phase of the project consists of two floors, one of which is a service center dedicated to serving entrepreneurs and creating a suitable business environment for clients equipped with a meeting office and other competitive advantages of the project, Raouf explained.
Akadia’s CEO Hanna Raouf said the company’s main activity was in the contracting sector, nevertheless, it decided to direct its investments to real estate development especially in the New Capital in line with the state’s plan to develop this promising national project.
He noted, “The company began excavation work on the project in June, and construction will start strongly by the end of August. The project is scheduled to be fully delivered by the end of 2023.”
He disclosed that three large companies offered to manage and operate the mall, but the selection process is still underway.