(MENAFN- Daily News Egypt)
Mazaya Developments has unveiled its fourth venture in the MU23 zone of the New Administrative Capital (NAC), marking an investment milestone of EGP 5bn.
Mohamed Allam, Chairperson of Mazaya Developments, highlighted the strategic location of MU23, noting its early development and proximity to key transportation hubs, including the monorail, electric train, and central bus stations, as well as direct access from Suez Road.
The new project boasts a modest built-up area, occupying only 30% of the total land, with buildings spanning 106 sqm in width.
Mohamed Mostafa, CEO of Mazaya Developments, detailed the mixed-use nature of the building, which encompasses commercial, administrative, and medical facilities. The structure features a ground floor, nine upper floors, and three subterranean levels. Retail spaces occupy the first two floors, while offices are situated from the third to ninth floors. A dedicated medical building is also part of the complex, managed by a specialized firm.
Mostafa further disclosed that the project includes a diverse array of amenities, such as office spaces, retail outlets, medical facilities, a food court with various dining options, a pharmacy, and an innovative outdoor booth area.
Design and management partnerships have been established with Archrete for architectural services and Brain 2 Fact for the oversight of commercial and administrative sectors. Additionally, Tashawer is collaborating with the company to manage the medical facilities.
Building on the success of its three preceding projects in NAC-The Rook, Gemini Blue, and Gemini Red-Mazaya Developments has invested a total of EGP 8 billion in the downtown district.
With a focus on construction, Mostafa announced plans to allocate EGP 500m towards development efforts. The company also sets its sights on generating EGP 1bn in sales this year and is gearing up for the launch of its fifth project by the end of 2024.
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