Dolmen Developments Company assured that it has increased the constructions volume in “Pier Mall” project in the New Administrative Capital, as it completed the implementation of the entire concrete structure of the project, and the finishing works are underway.
Abdelazim Khalil Dolmen Developments Chairman, announced that the company pumped investments worth 30 million pounds into the project within 6 months, and it is planned to deliver the project by the end of the next year according to the time schedule for delivery, pointing that the high occupancy rate in the project’s surrounding area is success’s key for any commercial project.
He added that “Pier Mall” project is located on an area of 3,000 square meters and consists of a low ground floor, a first and second commercial floors, and an administrative last floor with a total of 6,500 square meters of sales area with more than 150 shops with various sizes that meet the needs of a large segment of clients, noting that the company received strong brand demands to take place in the project.
He showed that the company has marketed 65% of the project, and is marketing the remaining percentage gradually according to a specific plan, as the company does not market the project immediately when it is launched to prevent the presence of a gap between the selling price and the cost of implementation, as it was proven in the recent period, which witnessed an increase in the cost of raw materials prices which led to rise in the cost of implementation.
He pointed that the company did not raise prices due to the implementation of a large part of the constructions, which reduces the effects of the increases resulting from global inflation and the rise in the prices of building materials, which assures the importance of the company’s focus on implementing the project, which has been a priority for the company since its inception.
He explained that accelerating the implementation rates prevents the existence of a gap between the selling price and the cost of implementation, which protects the company and the client as well.
He added that the third residential compound includes 25,000 units that will gradually be inhabited with the start of the move of state employees to the administrative capital, which raises the need for the availability of services necessary and complementary to housing, noting that the company, while choosing the location of its project, aims to choose places with fast housing and high occupancy in order to maximize the return on investment in its projects, which benefits clients and the company.
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