Rock Gold Mall opens in Cairo’s Fifth Settlement

MallsNews

Egypt’s first gold-specialised mall, Rock Gold Mall, opened on August 7 in the Fifth Settlement district.

The mall is a collaboration between EdgeStone Contracting Company, project management firm of commercial fields and shopping malls, and El Batal Developments, real estate developer.

The shopping centre has set EGP600 million as its target sales during the first phase, with target sales of the entire project topping EGP1.5 billion.

The project comes as the companies’ objective to expose jewellery designers to wider consumer bases, said Shady Samir, board member of EdgeStone Contracting Company and head of its sales sector.

Rock Gold Mall offers payment schemes with repayment instalments of up to four years and the latest insurance and security concepts.

Shoppers can also find competitive pricing during the first phase.

Rock Gold Mall houses 150 stores catering to more than five million residents of surrounding areas.

During the first nine months of last year, Egyptians spent EGP1.3 billion on gold, a significant increase from EGP842.4 million spent during the same period of 2020, according to the World Gold Council.

The Middle East Economic Digest projected that Egypt’s retail market will rise at a compounded annual growth rate of five per cent from its $200 billion value in 2020 to $254 billion in 2025.

EdgeStone recently introduced the Tucano Commercial Complex to Nasr City and attracted numerous local and international brands, such as Alshayaa Egypt, Americana and Spinneys, as tenants.

El Batal’s investments top EGP12 billion, with projects across the Fifth Settlement, 6th of October City, New Administrative Capital, El Obour and Heliopolis.

MallsNews

RELATED POSTS