Al-Futtaim, Emaar Start Studies On ‘Cairo Gate’ Project
The UAE-based international real estate firm, Al-Futtaim Group has started the preparations for conducting initial studies on its new project ‘Cairo Gate’, said the General Manager Mohamed El Mikawi.
Mikawi noted that the studies on Al-Futtaim’s new project likely to be completed by next June.
He further added that ‘Cairo Gate’ is a commercial compound located in the 6th of October – Cairo-Alexandria desert highway. It is planned to develop ‘Cairo Gate’ project through a joint venture with UAE-based Emaar within the coming period after the completion of the studies.
Mikawi stated that the studies on ‘Cairo Gate’ shall determine the investment cost alongside the schedule of each phase of the project.
Elsewhere, Mikawi told Amwal Al Ghad that Al-Futtaim has injected non-stop investments worth around EGP 5 billion for its project ‘Cairo Festival City’ since the inception up till now, despite the current instability the Egyptian market is facing nowadays.
