Hometown Developments announced that the construction rate in “La Fayette Mall” project in the New Administrative Capital has reached 50%, among the scheduled plan specified by the company and agreed upon with clients.
Diaa El Din Farag, Hometown’s Chairman, assured that the speed of implementation of projects reduces the gap between sales price and the cost of implementation, especially among the high prices of building materials and different pricing from what was specified with the project’s marketing, pointing that the company’s success in implementing “La Fayette Mall” project with high rates eliminated this gap.
He added that the high rates of implementation and operation in the Administrative Capital and the imminence of the whole government moving to it, encourages to speed up the volume of implementation in various projects, especially commercial ones, in order to speed up operation and benefit from the expected occupancy rates in the New Administrative Capital, in accordance with the presence of a full life in the Capital.
He pointed that maintaining clients’ confidence in the company’s name, enhancing its credibility in the market, as well as adhering to the scheduled dates of the contract signed with the New Administrative Capital Company, are all elements that support continued implementation, regardless of the volume of global economic challenges that affect all the world economies.
He explained that “La Fayette Mall” project is considered as the largest Mega Mall in the New Administrative Capital, as it combines both commercial and entertainment activities, located on area of 23 thousand square meters, besides 25 thousands meters landscape, in the two blocks (1-2) in the Down Town, in front of Al Masa Hotel and directly next to the Central Station of the Monorail.
He added that the project includes a ground floor and 5 duplicate floors, in addition to 2 basements, and a contract was signed with DMA Engineering Consultants to design the project, as the Mall includes nearly 600 commercial shops, 85 restaurants or Cafe, with 80 thousand square meters of sales space, a kids area, an ice skating area and a dancing fountain, which makes visiting the mall a wonderful shopping and entertainment experience.