City Centre Alexandria completes EGP70 million Expansion Plan
Continuing to further transform the retail landscape in Alexandria and the surrounding area, City Centre Alexandria recently announced the completion of its newly developed phase, the Leisure Precinct.
Owned and managed by Majid Al Futtaim, City Centre Alexandria hosted a three-day celebratory carnival in December 2014, to inaugurate the new phase. The carnival hosted entertaining shows and activities for all mall visitors under different cultural themes from all continents.
“The new redevelopment of City Centre Alexandria, the Leisure Precinct, is a major investment in line with Majid Al Futtaim’s tradition of offering visitors great moments through combining the best dining, shopping and entertainment experiences under one roof,” said Michael Cesarz, Chief Executive Officer of Majid Al Futtaim Shopping Malls. “We are committed to maintaining and expanding our operations in Alexandria and across Egypt as a leading player in the local and regional retail sector.”
With total investments of EGP70 million, the Leisure Precinct created 500 new job opportunities, making the total jobs opportunities offered by the mall since its opening 4,500 jobs. The new Leisure Precinct spans over 12,000 m2 including 11 food court units and four restaurants with separate seating areas, in addition to a new shops area with 23 retail units to add more unique outlets to the mall’s portfolio. Moreover, the expanded Leisure Precinct accommodates around 800 customers in the food court area and an additional 900 customers in the seating areas of the four new restaurants to allow more and more visitors to enjoy the leisure atmosphere offered by the mall. With this latest attraction, the mall’s daily footfall is expected to increase by over 5% reaching 42,000 visitors per day.
This recent expansion is a part of Majid Al Futtaim’s five-year plan for Egypt that includes investing more than EGP17 billion in establishing new projects as well as expanding and renovating current projects, with EGP5 billion out of this total amount allocated to Carrefour Hypermarket brand. The leading retail company recently announced allocating EGP4.9 billion to complete its latest project; Mall of Egypt. The mall is located in 6th of October City, and will feature Africa’s first indoor skiing slope, among other outstanding offerings. Furthermore, Majid Al Futtaim is working on a massive expansion plan for City Centre Maadi, with investments of EGP3.9 billion.
Over the years, Majid Al Futtaim was able to build a solid shopping mall portfolio, and successfully became world renowned for innovation within the shopping centre, retail, design and construction industries.
