Olive Tree Development, affiliated to Avamina Group, has announced its participation in Al-Ahram Real Estate Exhibition (Aqari) under the patronage of Prime Minister Mostafa Madbouly. The Aqari exhibition will be held at the Cairo International Conference Centre in Nasr City from 29 July to 1August. The company will showcase the last phase of N Mall, its first project in the New Administrative Capital (NAC), at the exhibition, and it will present exclusive offers and flexible payment plans with 15% discount on commercial units. Chairperson of Avamina Group Ashraf Awad said the N Mall is a commercial, medical, administrative project and is located in the most prestigious areas of the NAC's Downtown on 2,300 sqm next to the government and financial district and near the monorail station. Awad added that the project's investments amounted to EGP 220m. He pointed out that the company is offering the last phase of the mall for sale after the great success it achieved in a short period, noting that 40% of the project units have been sold out. Vice Chairperson of the Group, Ehab Awad, said the New Capital is a new smart city and is being constructed at the highest international standards. In addition, it is one of the fourth generation cities that the state is developing to increase the urban area of Egypt. He added that the population of the NAC city is expected to grow from 18 to 40 million people by 2050. Meanwhile, Projects General Manager Hady George stated that the N Mall project enjoys many competitive advantages, adding that the mall's built-up area reaches 30% of the total project land and 70% of spaces are allocated to serve the mall. He explained that the mall comprises two basement floors and a 4,600-sqm garage. Additionally, ground, first, second and third floors are allocated for commercial units, meanwhile, the fourth floor is designed for medical clinics and laboratories, and from the fifth to eighth floor for administrative offices in all specialties in addition to the roof. George noted that the company delivers administrative and medical units fully finished. The company's commercial marketing consultant Sameh Marawan said that the Aqari Exhibition is the most important real estate event annually, and added that property exhibitions contribute greatly to boost the real estate market. He expected that Egypt's real estate market would evolve in the coming months in conjunction with the government's implementation of its plans to move to its new headquarters in the New Capital.
