FSG Developments Group announced the opening of reservation for the first phase of its new project, Palma Mall, in the Downtown area of the New Administrative Capital, with a total area of about 45 thousand square meters.
Built for commercial and administrative purposes, the construction rate of the project is 30%, with a main aim of providing the largest area of green spaces.
Michael Al-Assiouti, Chairman of FSG Developments Group, said that the new project is the sixth for the group in the New Capital, confirming the group’s success in its previous projects, which had a distinctive imprint in the real estate market.
The project’s implementation is supervised by the IEC Engineering Consultant Office, while MRB is in charge of operating tasks.
For his part, Eng Tarek Sabry, Executive Director of the FSG Group, said that the total area of the project units is 45,000 square meters, pointing out that the Mall consists of a ground floor and 14 recurring floors, and a multi-storey garage equipped with a smart parking system.
Sabry also referred to the distinguished location of the “Palma Mall” project, which directly overlooks the central park with a façade that extends for more than 300 meters.
With an advance payment of 5%, the mall’s units were offered in installments up to 10 years, he said, pointing out that the group has already signed contracts with a number of famous brands, foremost of which are the chain of restaurants and cafes (Bucharest – Warda – Naomi).
The FSG Developments Group owns a set of projects in the Administrative Capital, including Florya Compound, Rixos Malls, Ivira, Seventy, and Blue Mall, which will be opened in the first quarter of 2024.