A Sodic-led consortium has won a government-sponsored bid to develop a retail centre in a prime location in Mansoura, the capital of Dakahlia.

Dakahlia, 120km northeast of Cairo, is one of the relatively wealthier governorates with a catchment of 1.2 million people and enormous pent-up demand for commercial and retail developments.

The project will allow Sodic to further diversify into the lucrative lease retail development. It also helps the company expand its addressable market into the large and lucrative middle class segment outside of Cairo, said a statement.

Located on a primary highway connecting the Dakahlia governorate’s major towns, the plot area totals 63,000 sq m. The project will have a gross built up area of 37,800 sq m and 27,720 sq m of net leasable area.

The project, to be fully constructed in 18 months, will be leased from the government for a 50-year period. - TradeArabia News Service