De Joya New Capital, a luxury shopping mall in Egypt's new administrative capital, has put one of its flagship shops up for sale for 53 million Egyptian pounds ($3.4 million).
The shop, located on the ground floor of the mall, spans over 1,000 square meters and is currently leased to a high-end fashion brand. It features a spacious interior with high ceilings, large display windows, and a mezzanine level.
De Joya New Capital is a new addition to Egypt's retail landscape, offering a mix of luxury and mid-range brands, as well as a variety of dining and entertainment options. The mall is part of a larger development project in the new administrative capital, which aims to create a modern, sustainable city that can accommodate millions of residents and businesses.
The decision to sell one of the mall's flagship shops comes amid a challenging retail environment in Egypt, as the COVID-19 pandemic has forced many businesses to shut down or scale back operations. However, De Joya New Capital remains optimistic about the future of retail in Egypt, citing the country's large and growing population, as well as its strategic location at the crossroads of Africa, Europe, and Asia.