| Country |
: |
Egypt |
| Project Value |
: |
USD 450,000,000 Estimated |
| Sector |
: |
Real Estate | Retail |
|
Consultants |
: |
Engineering Consultants Group
(Design) |
Callison Architecture
(Design) |
WATG
(Design) |
|
Contractor |
: |
Jv of Al Futtaim Carillion and Orascom Construction Industries
(Sub-structure, super-structure and MEP works) |
| Profile Type |
: |
Contract Project
|
|
Phase:
Construction - Execution
|
|
Completion: 2014
|
|
|
|
| Background |
Al Futtaim Group Real EstateAl Futtaim Group Real Estate plans to develop The Festival Center, a retail and entertainment center located in Cairo Festival City, a community development located 20 km South East Cairo in New Cairo City.
The project will spread over an area of 140,000 sq.m. and will include the retail district of Cairo Festival City.
Festival Center is a 3-level shopping center that will consist of a 17-screen multiplex cinema, retail outlets (300 shops), hyper market, a hotel, and food outlets.
Callison, WATG and Engineering Consultants Group are the design consultants. |
| Expected Events |
| Schedule |
Contract Phase/Phase |
Description |
| 2014 |
Completion | Project expected to be completed
|
|
| Latest Events |
In November 2011, the construction of the project was ongoing.
In 2014, the project is expected to be completed (delayed from Q4 2012). |
| Previous Events |
In May 2009, the construction contract (USD 340 million) for the super-structure works was awarded to the joint venture of Al Futtaim CarillionAl Futtaim Carillion (including MEP works) and Orascom Construction IndustriesOrascom Construction Industries.
In June 2008, the ground breaking took place.
In May 2008, the construction contract for the sub-structure works was awarded to the joint venture of Al Futtaim CarillionAl Futtaim Carillion and Orascom Construction IndustriesOrascom Construction Industries. |
| Scope of Work |
Construction of a 3-level retail complex including:
- A multiplex cinema
- 250 retail outlets
- Dining facilities
- A 400-room hotel |
| Financing Source |
HSBC, Arab African International, Commercial International Bank (CIB), and Banque Misr agreed to lend Al Futtaim Group USD 261 million to finance the project. The loan will have a tenor of 7-10 years |
| Contract Packages |
|
| Project News |
|
|
| Schedule | Contract Phase/Phase | Description |
| May 2008 |
Construction | Sub-structure contract awarded to the JV of Al Futtaim CarillionAl Futtaim Carillion and Orascom Contruction Industries
|
| Jun 2008 |
Construction | Construction started
|
| May 2009 |
Construction | Super-structure contract awarded the JV of Al Futtaim CarillionAl Futtaim Carillion and Orascom Contruction Industries
|
| 2014 |
Completion | Project expected to be completed
|
|
|
Key:
Master Project
Package Project
Contract Project
|
|
 |
- SEARCH MIDDLE EAST PROJECTS
|
Retail 
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