Contact Developments launched its third project, 'Cayo Mall', in the New Administrative Capital (NAC), according to Contact Developments Chairperson Ahmed Fekry. Fekry said that the project is a commercial mall spanning over 7,100 sqm on two distinct facades with investments estimated at EGP 1.3bn, pointing that the project includes units of various sizes, starting from 35 sqm and up to 200 sqm. For his part, Khaled Al-Seyoufi — the Managing Director of the company — said that the project is an extension of Contact's series of projects in the NAC and Egyptian real estate market attracting local and foreign investors, especially in the new cities constructed by the Egyptian state. He added that the project consists of a ground floor and four floors, and it is scheduled to be ready for delivery within three years, noting that excavation works are complete and preparations for construction work are underway. El-Seyoufi pointed out that the project serves a large number of neighbouring companies because it includes the largest food court in the NAC's Downtown with an open area estimated at 2,200 sqm. He explained that Contact aims through its expansion plan to increase the volume of its investments in the NAC by 400% during 2023, emphasising the company's insistence to contract with major local and international consulting companies, namely DMA Design and Engineering Consulting Office, for the project and the giant contracting company SAMCO.
