Cairo Festival City Mall Opens After Three-Year Delay

Cairo Festival City Mall opened in Cairo on Tuesday after a three-year delay.

Developers describe it as the premier mixed-use urban community in Egypt, extending over three million square metres.

The mall is developed by Al-Futtaim Group Real Estate Egypt, part of the Dubai-based Al-Futtaim Group with contracts amounting LE7 billion (almost $1 billion).

A 33,000 square metre IKEA store, the Swedish furniture manufacturer, has drawn particular attention from shoppers.

The mall hosts hypermarket Carrefour, department stores Marks & Spencer and Debenhams, as well as a 16-screen Cineplex.

CEO of Al-Futtaim Real Estate Company Mohamed El-Mekkawi has previously accused the government delaying the project by refusing to allocate licences.

The mall was inaugurated by Egyptian Industry Minister Mounir Fakhry Abdel-Nour and United Arab Emirates minister Sultan Ahmed Al-Jaber.

A statement by the Egyptian industry ministry says investment in the project will reach LE17 billion.

Source: Ahram Online