USD 708M Mall of Egypt in Cairo opens doors to the public

Mall of Egypt which is one of the biggest malls in North Africa and the Middle East has finally opened its doors to the public.

The  Mall of Egypt which comes complete with a snow park and ski slope was developed at a cost of US$ 708m. Spanning 400,000 square meters, 165,000 of which are dedicated to shopping, the two-story complex brings snow for the first time to Egypt and the African continent having an indoor snow park and ski slope at Ski Egypt.

It will also house Egypt’s first VOX movie theatres which will be home to a whopping 21 screens, including 4DX technology. Additionally, the mega mall will feature the country’s very first branch of popular edutainment centre franchise Little Explorers and a Magic Planet amusement arcade – Generation 2.0. A Carrefour hypermarket will also be among the brands at the mall as well as 6,500 parking spaces.

“Mall of Egypt, Majid Al Futtaim’s second ‘Mall of’ flagship shopping mall, will set the same precedent as its sister brand, Mall of the Emirates in the UAE bringing unmatched experiences to North Africa.

Egypt is an important market for Majid Al Futtaim and launching mega projects like Mall of Egypt re-affirms our strong belief in the vast opportunities available in the Egyptian market,” Gaith Shocair, Chief Executive Officer of Shopping Malls, Majid Al Futtaim Properties, said in a statement.

Mall of Egypt also accommodates 350 local and international retailers as well as major department stores and other fashion, lifestyle, sports, electronics, home furnishing outlets.

Majid Al Futtaim (Maf), the conglomerate behind Mall of the Emirates is looking into expansion plans after registering an 8 per cent increase in earnings before interest, taxes, depreciation and amortization to US$ 1.1bn in 2016.

They have plans of expanding in other markets such as the UAE, Egypt, Oman and Saudi Arabia and will also bolster its operations in Africa and Central Asia.

Source; Construction Review