UAE-based Al-Futtaim’s investments in Cairo Festival City to hit 30 bln pounds till 2023

The total investments of UAE-based Al-Futtaim Real Estate Company’s Cairo Festival City project will increase to 30 billion Egyptian pounds ($1.7 billion) until 2023, said its managing director Ashraf Ezz El-Din on Tuesday.

Ezz El-Din further added that Cairo Festival City is a visionary mixed-use urban community strategically located at the gateway to New Cairo on a total space of 3 million square metres.

“The project’s total space includes commercial and administrative parts over 350,000 square metres, other residential parts over 1.1 million square metres, and hotel parts over 41,000 square metres,” the Egyptian official noted.