Arabian Group kicks off Galaria Mall’s renovation plan
Arabian Group for Urban Development, one of Egypt's most prominent developers, announced the launch of 5th Settlement's Galaria Mall, marking its pioneering position as a developer of multi-use projects East Cairo and in light of Arabia Group's attention to continually develop its portfolio so as to provide the best services to clients and maximize the company's assets.
The renovation plan dictates changing the entirety of the project's units to perform administrative activities while allowing restaurants and cafes to continue serving clients. The plan also includes renovating the project at a cost of EGP 50mln, together with assigning the management and sales roles to Amaken Real Estate.
A press conference was held Tuesday to mark the signing of a partnership agreement binding Arabia Group for Urban Development with Amaken Real Estate for managing and marketing Galaria Mall.
The signing ceremony was attended by vice-chairperson of Technicalities Division at Arabia Group for Urban Development Eng. Amro Diab, head of commercial sector at AGUD Aymen Noar, CEO of Amaken Real Estate Gaser Bahgat.
Under the partnership agreement, Amaken Real Estate shall take charge of managing the mall, selling and leasing the remaining units. Upon receiving the mall, Amaken Real Estate will study the advantages of the project and prepare a marketing plan for alluring top companies, economic institutions, local and International banks to set up branches for them in the mall, while picking partners most capable of adding value to the mall.
Aymen Noar: The company works relentlessly to conduct studies about needs of the real estate market in Egypt
AGUD, according to head of commercial sector Aymen Noar, works relentlessly to conduct studies exploring needs of Egypt’s real estate sector, as it noticed recently that there is a growing demand for the management business, particularly in East Cairo. Hence, it decided to change the majority of Galaria Mall’s administrative activities, while allowing the restaurants and cafes occupying the lower floors to provide various services to customers and visitors of the mall.
AGUD assigned Amaken Real Estate to perform management and marketing roles
AGUD, added Noar, decided to assign Amaken Real Estate to manage and promote Galaria Mall, owing to the latter’s wide experience in managing similar projects, providing the best services to clients and maximizing returns. “ AGUD seeks to enter into successful partnerships with leading companies so as to add value to clients.”
Gaser Bahgat: We promise to provide the best services to customers of Galaria Mall in areas of managing and promoting the remaining units.
For his part, CEO of Amaken Real Estate Gaser Bahgat said :” We are happy to award Amaken Real Estate the contract for managing and marketing Galaria Mall, as it enjoys a reputable track record in the real estate sector with it developing up to 17 projects nationwide. Moreover, Galaria Mall is one of the most prominent multi-use projects East Cairo. “We pledge to provide premium services to Galaria Mall’s customers and to promote the remaining units as soon as possible.”
Galaria Mall
Galaria Mall, spreading over 18000 sqm in New Cairo, comprises 105 offices and 16 stores, as 16 units are set to be leased. Galaria Mall features a prime location that overlooks El Teseen St. and is deemed as the jewel of multi-use projects East Cairo
