Latest news with #commercialdevelopment
CBC
22-07-2025
- Politics
- CBC
Stratford wants to transform its waterfront. Some residents have concerns
Some people in Stratford say they're dreading proposed changes to the town's waterfront. About 45 people came out for a public meeting on council's plans to rezone a portion of the area to make way for more housing and commercial development. CBC's Wayne Thibodeau was also there.
Zawya
03-07-2025
- Business
- Zawya
Major acquires prime plot at mega RAK commercial development
UAE-based Major Developers has entered into a deal with Marjan, the master developer of freehold properties in Ras Al Khaimah, to acquire a prime plot of land at its mega commercial development - RAK Central. As per the agreement, Major will be developing a mixed-use project at the RAK Central site with a built-up area of 265,000 sq ft. The entire work will be completed by Q4 2028. This marks Major Developers' second venture in Ras Al Khaimah thus reinforcing their commitment to the northern emirate's high-growth commercial and investment ecosystem, said senior company officials at the signing ceremony held at the Mövenpick Resort Al Marjan Island. Following the successful launch of their flagship project, Manta Bay at Al Marjan Island, this latest venture underscores Major's continued confidence in the emirate's economic vision and its infrastructure-driven approach to sustainable growth, they stated. Speaking on the occasion, Marjan CEO Abdulla Al Abdouli said: "With RAK Central, we've created a mega development that is structurally aligned with regional growth, global investment patterns, and national diversification goals." RAK Central is a meticulously planned business district designed to be the commercial nucleus of Ras Al Khaimah, offering rare investment fundamentals: 100% foreign ownership, low taxation, and high yield potential. Its strategic location and smart design make it one of the most compelling investment zones in the region. Grounded in a 'Work–Live–Play' philosophy, the district combines institutional infrastructure with human-centric planning to create a cohesive urban ecosystem, stated Al Abdouli. "Major Developers' decision to invest in this multi-use destination is testament to Ras Al Khaimah's growing clout as a durable economic engine driving further progress. We welcome their participation in the evolution of RAK Central and look forward to a landmark addition to its evolving identity," he added. Major Developers CEO Andrei Charapenak said: "RAK Central represents a uniquely calibrated convergence of foresight, infrastructure, and regional alignment. As such we are excited to drive Ras Al Khaimah's growth narrative through this multi-dimensional new project that is set to shape one of the UAE's most profitable and forward-thinking economic hubs." "We look forward to further driving this visionary project through our landmark architecture, experience, and performance," he added. RAK Central masterplan offers three million sq ft of rentable office space, more than 4,000 residential apartments, four hotels with a capacity surpassing 1,000 keys, multiple parks and green spaces in addition to various retail and entertainment facilities and several interconnected buildings with over 1,000 parking spaces for visitors. Work on RAK Central HQ, which will serve as the main business complex, is currently underway and expected to be completed in the first quarter of 2027. -TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Zawya
28-06-2025
- Business
- Zawya
Sakan Developments launches its new project "Park-U" in El Shorouk City with investments exceeding EGP 4.8bln
The project covers an area of 15,000 square meters, with operations expected to start in 2029 Cairo, Egypt – In a bold move to redefine the commercial and entertainment landscape in East Cairo, Sakan Developments, one of Egypt's leading real estate development companies, has announced the launch of its flagship project, Park-U, in El Shorouk City, with investments exceeding EGP 4.8 billion. This launch is part of an ambitious expansion plan aimed at creating integrated urban and commercial communities that combine quality planning, stunning design, and innovation. Sakan Developments is one of the fastest-growing companies in Egypt's real estate sector, with a strong track record of diverse and high-quality projects. Since its establishment over 10 years ago, the company has delivered more than 56 projects, handed over over 250 residential units, with a total investment surpassing EGP 3.7 billion, mostly in El Shorouk City and New Cairo. The project is strategically located on the El Horreya Axis in El Shorouk City and serves as a key element in the company's strategy to provide modern urban solutions that keep up with the country's rapid economic growth and urban expansion, especially with the government's focus on developing new cities such as the New Administrative Capital. Park-U spans a total area of 15,000 square meters, with an operational area of 69,300 square meters, reflecting the flexibility and expansion potential considered in the design. The project is aimed at offering a unique experience with a balanced distribution of commercial, administrative, and entertainment spaces to cater to diverse customer and investor segments. Commenting on the project, Engineer Walid Khattab, Chairman of Sakan Developments, said: "We are proud to launch Park-U in El Shorouk City, which represents a significant step in developing the region and elevating its commercial and entertainment facilities. This project is part of our ongoing commitment to delivering innovative solutions that meet the aspirations of the Egyptian market. Our vision is to create integrated and sustainable communities that serve various sectors." Mr. Ahmed Taher, Head of the Commercial Sector at Sakan Developments, stated: "Sakan's vision is to create modern commercial environments that align with economic and social changes, offering an integrated experience that combines shopping, entertainment, and work. This is what we aim to fully achieve in Park-U. Once completed, we expect it to have a direct positive impact on the local economy and enhance the investment appeal of El Shorouk City, positioning it as one of the leading development projects in Egypt in the next decade." The project will be developed over a period of 42 months, beginning in June 2025, with units expected to be handed over and operations starting in early 2029. This ambitious timeline reflects the professionalism and seriousness with which Sakan handles its projects. Park-U enjoys a prime location, close to major brands like Dar Misr, Sakan Misr, Komond El-Batio, and Carrefour Market. It is easily accessible via key highways, including the Suez Road and Ismailia Desert Road. It is also near prestigious international schools, such as the British International School, providing a distinguished shopping and entertainment experience in an environment surrounded by educational and healthcare services. Additionally, Park-U's proximity to the New Administrative Capital makes it a promising commercial destination, not only for residents of El Shorouk City but also for thousands of workers and residents in the New Administrative Capital in the years to come. This further enhances the project's investment value and promotes its potential for sustainable growth. Park-U represents a new generation of open-air malls that blend traditional shopping experiences with the enjoyment of green spaces and community interaction. Key features include: A multi-use interactive square for hosting public events and family activities. Commercial units offering breathtaking views of scenic landscapes. Relaxation and leisure spaces designed with care to meet the tastes of visitors looking for a comfortable and modern environment. The project boasts cutting-edge infrastructure aligned with global standards, including: Advanced security systems featuring surveillance cameras and fire alarm systems. A variety of entertainment facilities for all age groups. Ample parking spaces to prevent congestion. Central air conditioning and high-speed internet service to ensure maximum comfort for both customers and tenants. Park-U targets a broad range of customers and investors, including: Real estate investors seeking long-term returns. Commercial businesses looking to open branches in strategic locations. Medical institutions wanting to expand in vital areas. Retail and entertainment projects needing a modern, integrated operational environment. It is expected that Park-U will generate lucrative investment returns, given the rising demand for commercial and entertainment spaces in new areas. Furthermore, it will contribute to boosting the business activity in El Shorouk City and its surrounding areas. Its strategic location plays a pivotal role in attracting a variety of investors, particularly given the ongoing urban growth in the area. The project also boasts a prestigious list of successful partners, including ACE Moharram-Bakhoum, KAD, Smarch Architects, Kelma Developments, Sedra Electric, and E& Business (Etisalat), with each playing a vital role in ensuring the project's success according to the highest standards.
BBC News
23-06-2025
- Business
- BBC News
Four-storey extension to Wolverhampton warehouse approved
Plans have been approved for a four-storey extension to a warehouse, including more office space and kitchen proposed addition from food business Middleton Group had an acceptable design and was in keeping with the "character and appearance of the existing building", City of Wolverhampton Council scale of the extension for a site off Willenhall Road was found to be "a sufficient distance away" from the nearest homes, and "that there would be no unacceptable impact upon residential amenity".The council said it had worked to secure a development that would improve the "economic, social and environmental conditions of the area". It granted permission subject to commercial vehicle movements to and from the site during construction being restricted to hours between 07:00 and 18:00 from Monday to Friday, and 08:00 to 13:00 on Saturdays, with no activity on Sundays or bank and public holidays. Follow BBC Wolverhampton & Black Country on BBC Sounds, Facebook, X and Instagram.
CTV News
20-06-2025
- Business
- CTV News
New development to reshape east Windsor: Is Costco coming?
Heavy construction equipment is seen at the site of a large box store commercial development in east Windsor. June 19, 2025. (Chris Campbell/CTV News Windsor) A development in east Windsor is being called the, 'catalyst that's going to reshape the entire neighbourhood.' That's according to Brook Handysides, senior vice president and sales representative with real estate company CBRE, which has announced that a deal to assemble the land and develop the infrastructure needed for a major box store commercial development in the east end has been finalized. Handysides points to the project benefitting over a dozen vacant parcels of land in the area. 'Ultimately, how that ends up getting developed over time, it will mature effectively as this first development takes off,' he said. 'It's just going to be positive things for the East Windsor area and the Tecumseh-Lauzon retail corridor. CBRE Windsor, on behalf of Rock Developments, worked for two years to bring together the deal on a 33-acre piece of property north of Tecumseh Road East and west of Catherine Street, just off Lauzon Parkway, behind the east-end Walmart and Home Depot. While it has yet to be confirmed exactly what the development will be, the conceptual drawing presented to the city shows it will include the colour 'Costco Red.' In early February, city council approved over $19.6-million in funding to support land acquisition costs and infrastructure upgrades to service the project, including road work and storm and sanitary sewer additions, while the developer will contribute almost $10.7 million to the work. The Forest Glade North Secondary Plan Area has identified the need for two new north-south collector roads to service the area north of Tecumseh Road, between Jefferson Boulevard and Lauzon Parkway. The collector roads would extend from Tecumseh Road (Roseville Gardens Drive) and include the future westerly extension of Catherine Street, work that is also expected to open access to several other vacant lots near the east-end Walmart and RONA for future development. east windsor - development - june 2025 Heavy construction equipment is seen at the site of a large box store commercial development in east Windsor. June 19, 2025. (Chris Campbell/CTV News Windsor) Handysides said this will ultimately connect the whole grid together and allow for enhanced vehicular access. 'Lands that are effectively dormant to development until now, with them being unlocked with the services and road construction that will happen in this area to ultimately accommodate this end user,' he added. According to Handysides, the area already has a significant retail footprint within this zone, including Tecumseh Mall, combined with residential densification around Lauzon and McHugh Street. 'Retail likes to see rooftops, and when you see more residents moving into the area and you have the road infrastructure to accommodate it, it just makes it right for continued densification. That's ultimately why I think this deal came together,' he said. The development calls for commercial uses that will include retail, a gas station, and restaurants, with the gas pumps expected to be part of Phase 1. The plan also calls for approximately 25,000 square meters of floor space and just under 1,400 parking spots. Windsor already has a Costco located at 4411 Walker Rd., not far from Provincial Road. — Rusty Thomson/AM800 News
