"Narrative Summit" Releases 2025 Recommendations to Cement Egypt's Position as a Global Tourism Destination    Egypt, S.Arabia step up trade ties through coordination council talks    Egypt reviews progress on $200m World Bank-funded waste management hub    Egypt urges Israel to accept Gaza deal amid intensifying fighting    Egypt, ADIB explore strategic partnership in digital healthcare, investment    SCZONE, Tokyo Metropolitan Government sign MoU on green hydrogen cooperation    Egypt welcomes international efforts for peace in Ukraine    Al-Sisi, Macron reaffirm strategic partnership, coordinate on Gaza crisis    Contact Reports Strong 1H-2025 on Financing, Insurance Gains    Egypt, India's BDR Group in talks to establish biologics, cancer drug facility    AUC graduates first cohort of film industry business certificate    Egyptian pound down vs. US dollar at Monday's close – CBE    Egypt's FM, Palestinian PM visit Rafah crossing to review Gaza aid    Egypt prepares unified stance ahead of COP30 in Brazil    Egypt recovers collection of ancient artefacts from Netherlands    Egypt harvests 315,000 cubic metres of rainwater in Sinai as part of flash flood protection measures    Egypt, Namibia explore closer pharmaceutical cooperation    Fitch Ratings: ASEAN Islamic finance set to surpass $1t by 2026-end    Renowned Egyptian novelist Sonallah Ibrahim dies at 88    Egyptian, Ugandan Presidents open business forum to boost trade    Al-Sisi says any party thinking Egypt will neglect water rights is 'completely mistaken'    Egypt's Sisi warns against unilateral Nile measures, reaffirms Egypt's water security stance    Egypt's Sisi, Uganda's Museveni discuss boosting ties    Egypt, Huawei explore healthcare digital transformation cooperation    Egypt's Sisi, Sudan's Idris discuss strategic ties, stability    Egypt to inaugurate Grand Egyptian Museum on 1 November    Greco-Roman rock-cut tombs unearthed in Egypt's Aswan    Egypt reveals heritage e-training portal    Sisi launches new support initiative for families of war, terrorism victims    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Tasweeq Shopping Malls Egypt to implement, manage two malls worth about EGP 1bn
Second phase of the Mansoura City Centre under development, says TSM chairperson
Published in Daily News Egypt on 02 - 04 - 2018

Tasweeq Shopping Malls (TSM) Egypt company will manage two new projects with total investments of about EGP 1bn, which are commercial malls in the cities of Sheikh Zayed and New Cairo.
Mohamed Galal, chairperson of the company, said that the first project is a commercial centre in the city of New Cairo. The company will manage its implementation and management after the opening and it is scheduled to inaugurate it by the end of this year, with a leasing area of 36,000 sqm with investments of EGP 600m. The mall is owned by a business company.
He added that the second project is a commercial centre in Sheikh Zayed City for a Saudi investor, with a 25,000 sqm lease area. The company expects to open it by the end of this year with an investment of EGP 450m. It is a commercial medical management centre, comprising 18 commercial units, 42 clinics, 38 offices, and a children entertainment area.
He noted that this project is currently being marketed.
Galal pointed out that he expects the number of brands operating in the local market will increase in the coming period, driven by the stability of the exchange rate of the pound against the dollar, as well as security and political stability, which incentivises any brand in any market in the world to launch investments in Egypt.
He indicated that these brands will be different from the ones Egyptian clients have been used to.
"Changing the purchasing power of a large segment of customers after the flotation supports the trend of brands that were not previously operating in the market to be commensurate with the change in purchasing power, focusing more on the basic needs of citizens," Galal noted.
He revealed that the second phase of the Mansoura City Centre is under development and the Zagazig Downtown Mall will be opened this year and the opening of a new commercial centre in Banha will be early next year.
He said that his company is focusing on governorates which have high purchasing power and a scarcity of commercial centres to meet the needs of their citizens.
The supply of commercial office space in Egypt, and Cairo in particular, maintained steady growth in 2016. As of mid-year, the country had approximately 941,000 sqm of gross leasable area (GLA), according to Jones Lang LaSalle.
There are plenty of projects in the pipeline, most notably in the new master-planned developments to the east and west of Downtown. While just 37,000 sqm of office space was added over the course of 2016, five new spaces with a total of 60,000 sqm were planned to open in 2017.


Clic here to read the story from its source.