K Developments launches Palencia Plaza in Shorouk City
This development is part of K Developments’ strategy to expand into commercial, administrative, and medical real estate
K Developments has launched Palencia Plaza, a mixed-use project in Shorouk City, east Cairo. The project is estimated to have investments of US $31mn.
This development is part of K Developments’ strategy to expand into commercial, administrative, and medical real estate, the firm said.
Chairperson Omar El-Fayoumi said the project reflects K Developments’ focus on areas with rising demand for non-residential property, particularly in new cities experiencing population growth and expanding service-sector activity. He noted that the location was carefully chosen within an established residential area in Shorouk, ensuring a stable user base and consistent activity.
The site also benefits from proximity to major roads, including the Suez and Ismailia highways, the Ring Road, and New Cairo, as well as destinations such as Madinaty’s Open Air Mall, the French University in Egypt, and the British University in Egypt, he added.
Palencia Plaza, a 6,000sqm development on Al Horreya Street, will offer a diverse range of commercial, administrative, and medical units in varying sizes. These units, including administrative and medical facilities, and will be fully furnished and equipped with air conditioning systems.
Operational and service facilities, such as parking spaces, elevators, security systems, backup generators, and retail areas, are also part of the development. Designed by YBA under the leadership of Eng. Yasser El-Beltagy, the project emphasises functional layouts and modern architectural standards.
K Developments presents flexible payment plans, starting with a 10% down payment and extending installments up to 8-years. Palencia Plaza is being launched concurrently with the company’s residential project, Palencia Al Shorouk, as part of a broader expansion strategy encompassing new developments in the North Coast and New Cairo.
