Entrada and Avenue Mall Projects in the New Administrative Capital (NAC), Egypt are set to be carried out by Sorouh Developments and hand Ricon Project Management & Construction Management (RICON Construction and Energy).
The former is a quickly evolving real estate developer determined to become the leading luxury real estate developer of fully integrated, unique communities in Egypt. The latter on the other hand is a “total PROJECT MANAGEMENT expert that provides maximum control of the project’s design and construction.”
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The two companies recently signed a strategic alliance agreement to partner on real estate projects in Egypt, including the aforementioned. The projects subject to this agreement will cost a total of EGP 30 billion according to Sorouh. Of the total investment, the Entrada and Avenue Mall projects will gulp close to EGP 3 billion.
Overview of the Entrada and Avenue Mall Projects in NAC
The Entrada is a residential development while the Avenue Mall is a mixed-use development. Entrada covers an area of approximately 72 acres in the R7 area of the New Administrative Capital (NAC, in front of the International Fairgrounds area. Sorouh Developments has already started delivering the first phase of Entrada development to customers.
The Avenue Mall on the other hand is located in the R7 area. It includes commercial, administrative, and medical spaces. Upon completion, the mall will offer a variety of services including shops, offices, clinics, restaurants, and cafes. With an area of 29,000 square meters or it’s thereabouts, the Avenue Mall will also provide various basic and entertainment services.