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Egp 200m sought for malls projects - Daily News Egypt

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Egp 200m sought for malls projects

The Ziad Company for Real Estate is seeking to make EGP 200m in sales from the Haram Plaza and Pyramiza Malls in Giza.

By Badawy Shalaby

The director of the Ziad Company for Real Estate, Ziad Abul Hagag, said that his company is marketing the Haram Plaza mall in Giza, a 5-floor, 800 meter complex. He said that the mall contains space for shops that vary between 100 and 300 square meters in addition to offices from 80 to 150 square meters. He said that the prices of the shops and the offices differ based on their location. The sale price of offices is EGP 3,000 per square meter and the shops between EGP 10,000 and EGP 22,000 per square meter. Rents in Haram Plaza start from between EGP 1,500 and EGP 5,000 per month for offices and from EGP 5,000 to EGP 30,000 for shops. He added that most shops and administrative offices in the mall are reserved for banks and communications companies. Approximately 25% of the mall has been rented or sold and it is hoped that the entire mall will be rented or sold in 2013. He also said that his company is seeking EGP 100m for the Pyramiza Mall in the Al-Haram area. Pyramiza Mall is a 5-floor, 1,200 square meter complex that contains space for shops and hous- ing units.The complex also has a 1,200 squre meter garage.He said that areas available for shops vary between 120 and 500 meters and that the sale price per square meter of external shop space starts between EGP 15,000 and EGP 20,000. The sale price per meter of internal shop space starts between EGP 8,000 and EGP 11,000. He said that the rents for external shops vary between EGP 12,000 and EGP 25,000 while rents for internal shops vary between EGP 6,000 and EGP 11,000. He attributed the rise in rent prices to the importance of the mall’s location and its close proximity to tourist attractions in Al-Haram.

He said that the sale price per square meter of office space begins from EGP 3,500 to EGP 3,000 and that rent for the same space is between EGP 2,000 to EGP 8,000.The price per square meter of housing units is EGP 3,000 for units that look onto the main street and EGP 2,000 for internal units.He said that 15% of the mall had been rented or sold.


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