Uptown 6 October invests EGP 300 Million in the first-of-its-kind Benaa Mall in New October
Uptown 6 October, the leading real estate development company, has announced the construction of its ground-breaking “Benaa Mall”, the first mall for building supplies in the heart of Uptown City, directly located on the entertainment and service axis in one of the liveliest areas in the city, the main 90 Street, and only 1.2 km from Al-Wahat Road, which makes it accessible for the main residential areas in New October. It is expected to boost the development sector in Egypt and the Middle East since it offers a one-stop shop for suppliers and visitors with the highest-quality in the market.
With easy access to diverse products ranging from building, finishing, and decoration materials in one spot, "Benaa Mall" facilitates the purchasing process, especially for interior design and finishing companies in Uptown and New October in general to meet all visitors' needs, by following the latest technologies from around the world that are used in the construction field and urban development.
Uptown 6 October is aiming for a new strategy with "Benaa Mall" that focuses on providing real estate products and services with new investment concepts, professionalism, credibility, and unique designs to meet visitors' expectations and achieve the company's vision of maintaining outstanding performance and achieving leadership.
Eng. Ahmed Abu Zaid, Chairman of Uptown 6 October, stated that: " Benaa Mall is the city’s first-of-its-kind project, built into two phases with investments amounting to approximately EGP 300 Million, with a total built-up area of 9000 meters, including 5 floors, with the two basement floors divided between a parking area and companies’ storage, while the products are displayed in the mall's interior, ranging from building, finishing, and maintenance products. While choosing the location we have put into consideration being accessible to residents of Uptown as well as neighboring areas.”
"Benaa Mall" includes 70 stores, 20 offices, a lobby, praying area, administrative offices, an engineering office for interior designs, stores connected to warehouses, parking area, food court, and security rooms. It has been designed for the rental of construction, finishing and decoration companies that supply the New October construction phases, with the goal of being the number one choice for buying and selling building and finishing products.
Added Abu Zaid: “Through spacious showrooms equipped with the latest technologies and AI, Benaa Mall prioritizes the needs of its visitors by providing a set of integrated amenities for suppliers and visitors to make the buying and selling process more convenient and efficient. It also has warehouses for storing materials so that suppliers can distribute their building materials and clients can receive what they need, as well as plenty of parking and convenient transportation options.”
The application of the concept of partial ownership provides a periodic return from the rent after the end of the first year (the period of construction completion), as the company has assigned the management of the mall to a carefully selected project management company, Facilify.uk for managing commercial centers to rent the mall and distribute a periodic return to Rent on each share of ownership, while the company evaluates the value of the mall periodically, announces the value of the traded share at the same time, and avoids the effect of inflation on savings as property ownership is a safe haven for preserving value in these times.
Added Moataz Shaarawy, Vice Chairman of Uptown 6 October: “In the framework of progressive developments of sales means, using technology and the tools of E-Commerce. Uptown 6 October will develop the first Online Mall for building materials and finishing, with the express delivery service (Q-Commerce) within 30 minutes. The Online Mall will work as another sales option for “Benaa Mall” via the Internet and it will use all the online payment methods and cash on delivery, in addition to providing the customers with Buy Now…Pay Later option to facilitate buying building materials and finishing by using payment in installments up to 36 months without interests to capitalize the available finance opportunities now and in future to provide an extraordinary and flexible buying experience.”
Finally, Shaarawy expressed his excitement for the beginning of construction work in "Benaa Mall," highlighting the company's efforts to attract all high-end brands in all fields noting that the company has signed lease contracts with one of the trading and commercial agencies which has a big number of global brands, meaning that any new client who gets a share in the mall will receive a return from the first day. The company is looking forward to making Uptown October a unique model for integrated cities by providing all services. Visitors will be provided by companies for paints, wallpaper, wall decorations, panels, cornices, gypsum board, flooring agencies, ceramics, porcelain, and HDF, sanitary ware, electrical tools, electricity establishments, cables, lighting units, and window and door companies. As well as decorating, flooring, gardening, roofing, and wood and iron companies.
Uptown 6 October is a unique model for real estate companies with innovative thinking and a clear vision. It is the first real estate developer to apply the concept of flexible design in its products, providing advisory and executive support to achieve their vision on the highest levels of quality and efficiency. It also provides an integrated package of high-level services, including land management and real estate assets, and the implementation of contracting, residential, administrative and commercial construction works, as well as leasing, management and operation works for its own account and for other individuals, companies, owners and investors. The real estate industry is under the management of a group of experts specialized in all fields required to create an integrated society that meets the needs of residents and investors.