Oct 14 2009 |
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Cairo Festival City to Offer New Opportunities for Egyptian Retail
15 October 2009Cairo, Egypt, 14 October 2009- Today Al Futtaim Group Real Estate formally launched the leasing of Cairo Festival City's Festival Centre to potential retailers, creating new opportunities for the Egyptian retail industry. In a press conference hosted in the Marriott Hotel in Zamalek, Cairo Festival City's Head of Retail Leasing Philip Evans, Design Director, Neil Shedden, together with Egypt's Senior General Manager Mohamed ElMikawi, explained the numerous benefits that Festival Centre will offer the Egyptian retail industry. Expected to open in early 2012, Festival Centre will offer more than 160,000 sq m, gross leasable area, of retail space.
With Egypt's recent focus on the retail industry, Festival Centre will contribute to the fast paced growth of the Egyptian retail market and its economy. Commenting on the launch, Cairo Festival City's General Manager Mohamed ElMikawi said "We have already signed with a number of big name retailers both internationally and locally and we will be hosting a major hypermarket. In total our retail experience is expected to create over 5000 new jobs, and we hope through Festival Centre we can contribute to the development of Egypt's economy".
Alongside the hypermarket, Festival Centre will also be hosting a number of their own Al Futtaim brands including Plug-Ins Electronix, Intersport and Toys R Us as well as local Egyptian brands White House and Renaissance Cinema. Festival Centre's Plug-Ins Electronix will be the first to open in Egypt, an important development, given the fact that the electronics division makes up one of the fastest growing sectors in the Middle Eastern retail industry. Plug-Ins Electronix is expected to substantially contribute to the expansion of this field.
Toys R Us will stand as one of their flagship stores, whilst White House one of Egypt's most reputable home furnishing stores will stand as an anchor of Festival Centre's lifestyle division. Renaissance Cinema's will be a key element of Festival Centre's entertainment division hosting numerous top international and local films on their 17 screen cinema complex. Festival centre will also introduce other new international brands for the first time to the Egyptian market.
Set in the heart of Cairo Festival City, Festival Centre offers over 300 stores and more than 100 restaurants across 3 floors of fashion, lifestyle and entertainment and 7000 car parking spaces. Beautifully set amongst the courtyards of "Festival Centre" is an open air dining and restaurants terraced area, "Festival Village" brings together a stunning combination of outdoor entertainment to the visitors. It will feature a range of boutiques, cafes, nightclubs and restaurants all set amongst a lush landscaping and water features.
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About Cairo Festival City:
Spanning 3 million square metres Cairo Festival City is a visionary mixed use urban community strategically located just 15 minutes from Cairo International Airport. Cairo Festival City features Egypt's first indoor-outdoor retail and entertainment resort combined with luxury residential communities, prime office spaces, internationally renowned hotels, schools and an automotive park all set within a lush landscaped environment.
For more information:
TRACCS Egypt
Rasha Teima
Tel: (+202) 33046860
Fax: (+202) 33031219
Email: rasha@traccs.net
Cairo Festival City
Marwa Mokhtar
Marketing Manager
Tel: (+202) 25281902
Fax: (+202) 2528 1901
Email: Marwa.Mokhtar@alfuttaim.ae
Website: www.alfuttaim.com
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