Hometown Development’s Chairperson Diaa Al-Din Farag stated that speeding up construction rates of the company’s projects reduces the gap between sales price and construction cost, especially after high increases in building materials and price differences.
Farag added that high rates of development and operation in the NAC and the whole government moving to it encourages speeding up the volume of construction in various projects, especially commercial ones, in order to hurry up operation and benefit from the expected occupancy rates in the NAC.
He explained that La Fayette Mall is considered the largest Mega Mall in the NAC, as it combines both commercial and entertainment activities, located on an area of 23,000 sqm, besides a 25,000-sqm landscape in two blocks (1-2) of the Downtown area in front of Al-Masa Hotel and directly next to the Central Station of the Monorail.
The project includes a ground floor and five duplicate floors, in addition to two basements, and a contract was signed with DMA Engineering Consultants to design the project, as the mall includes nearly 600 commercial shops, 85 restaurants and cafe with 80,000-sqm sales space, a kids area, an ice skating rink, and a dancing fountain, Farag concluded.
