Amer Signs Fawaz Alhokair, Carrefour Brands for ‘Porto Cairo Mall –Phase II’

Egypt’s leading property developer Amer Group announced Thursday an agreement with Saudi Fawaz Alhokair Group and multinational retailer Carrefour to take part in the ‘Porto Cairo Mall’ project.

Amer Group is targeting the inauguration of Port Cairo Mall – Second Phase within next April 2015.

According to the latest business results for the first nine months of 2014, Amer Group recorded around EGP 43 million in revenues of malls, accounting for 2.6% of the group’s total revenues. This comes in comparison to the company’s mall revenues of EGP 25 million for the nine months of 2013.

Porto Cairo Mall – First Phase was launched last April in New Cairo, to include international restaurants and cafés. The second phase is set to encompass hypermarkets, mega stores, and a Fashion Street with the biggest international brands, in addition to a theme park in cooperation with Saudi Al-Othaim Group.

Porto Cairo Mall is located in the first settlement area, New Cairo, with a total planned Gross Leasable Area (GLA) of 35,000 sqm.