Akadia Developments intends to launch the last phase of Pagoda Business Complex in New Administrative Capital (NAC) on 1,100 sqm.
Chairperson of Akadia Developments Ms Hana Raouf said that Pagoda Business Complex is a medical administrative commercial mall in the NAC’s Downtown area on 2,144 sqm. The complex comprises ground floor and 10 floors, and is located in a privileged place in the New Capital, with a direct view on the gold market and the monorail, only 3 minutes from the Green River, in front of the People’s Square and next to financial and business district.
She noted that the project’s targeted sales amounted to LE500m, added that the company has succeeded in recording LE380m in sales since the project launch last March.
She further pointed out that Akadia Developments plans to sell out the last phase of the mall within two months due to the uniqueness of the project and distinctive payment systems the company offers to its clients.
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 meeting office and other competitive advantages of the project, she explained.
For his part, the company’s CEO Mr Hanna Raouf said that the company’s main activity was in 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 stressed that Akadia is developing its own project based on its previous work experience in contracting sector, as the company has implemented various projects in Fifth Settlement, New Cairo, Heliopolis and Nasr City.
Furthermore, he noted that the company has introduced new elements to Pagoda Business Complex in co-operation with distinguished brands in field of franchising; consequently, co-operation has been made with Turpicana.
Customer purchases unit at Pagoda and Tropicana, owner of the largest brands Chili’s, Studio Misr, Carinos, Halket El-Samak and Coffeeccino, contracts with brands for this commercial unit to achieve a return on investment for the client. Additionally, the company has contracted with Just Fit, a sport commercial brand that is located for the first time in the New Capital, Faouf elaborated.
He said, “The company has begun excavation work on the project in June, and constructions will start strongly by the end of August. The project is scheduled to be delivered by the end of 2023. CAP (Concept for Architecture and Planning) founded by Hassan El-Zamly will assume the role of engineering consultant for the project.”
He disclosed that the company has acquired the project plot of land in January, added that selection is underway between the 3 largest companies to manage and operate the mall, as part of the company’s plan to maintain quality of the mall to preserve the company’s investments and customers.
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