Marota Developments begins building on Mastro challenge at New Capital

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Marota Developments announced that construction has started on its Mastro project, which is located in a designated area of ​​downtown New Administrative Capital (NAC).

COO Ashraf Diaa said the company has chosen a prime location for its first project in NAC as it will serve as a gateway to entertainment and boardwalks in the major national project.

At a press conference on Saturday, Diaa added that Mastro is in the only area devoted to downtown retail, dining and entertainment.

With an area of ​​5,250 m², Mastro is a shopping center with a ground floor and five floors. It has a constructed area of ​​9,446 m² and a parking lot of more than 10,000 m².

Diaa said that Marota Developments was founded about a year ago and bought the land on the Mastro project last August. The company has a full sales and marketing team on board that includes a number of successful and respected members with years of experience in their fields.

“The company has so far worked in several specializations of the project with a number of renowned successful partners in order to achieve a balance between the aesthetic advantages of the project and the distinctive exterior design in addition to the internal operational functions of the project, excellence of the internal operators,” said Diaa . “The company is also keen to ensure that visitors to the mall enjoy their presence in a place full of entertainment activities, not just a mall.”

“Accordingly, the company chose the international consulting firm Raef Fahmi Architects, one of the innovators in the field of architecture and engineering, to take on the role of engineering consultant for the Mastro shopping center,” said Diaa. “Raef Fahmi expressed his appreciation for the appreciation uniqueness of the location of the project and the proportion of its activity in the area in which it is located, which contributes to the implementation of a project that will be an icon for the region.”

He added that Marota Developments has also signed a contract with French operator Business Concierge, who specialize in identifying financial studies and commercial specializations for the project. In addition, there is a cooperation with a strong Egyptian technology specialist, which will be announced shortly.

A company focused on developing an in-house calendar for the mall has been hired to ensure various recreational activities throughout the year, he added.

Diaa came to the conclusion that the company does not see the project as a pure sales meter, but wants to realize a distinctive project that is attractive for customers and profitable for operators.

For his part, Waleed Selim, Head of Projects Management, said Marota Developments began excavating the project before it was marketed, reflecting the company’s strong financial solvency.

It has a management plan that depends on the self-funding of the project, which is an important step in building customer confidence in the company.

Selim added, “It is planned to start project delivery within three and a half years, but the company is aiming to deliver the project six months ahead of schedule, depending on the schedule set, in addition to quickly providing the necessary services required by are needed by customers. “

Additionally, Ahmed Samir, Head of Sales and Marketing at Marota Developments said the company has a distinctive and comprehensive sales plan to market the mall and deliver it to the target customers.

In addition, there are various and flexible payment plans that correspond to the purchasing power of the customers, with down payments of 0% to 15%.

On the basis of market studies by Marota Developments, in addition to the 850 m² vacant space on the fourth and fifth floors, the size of the mall was determined.