PROJECTS: Egypt’s Afaaq Construction completes Amorada Mall

SectorReal Estate

Egypt's Afaaq Construction and Real Estate Investment said on Tuesday that it has completed its 160-million Egyptian pound ($10 million) Amorada Mall in New Cairo.Amorada Mall is the commercial component of the 600 million Egyptian pounds ($38 million) Amorada mixed-use development.The developer reduced the area of the mall from 4,800-square metres (sqm) to 2,300 sqm to expedite the completion of the residential portion last year amid COVID-19 pandemic, a company spokesperson told Zawya Projects.He didn't disclose the total number of units but said the developer will sell all the units instead of retaining them for leasing.(1 US Dollar = Egyptian Pounds)(Writing by Marwa Abo Almajd; Editing by Anoop Menon)( This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.© ZAWYA 2021 more...