Egyptian private developer Gosour Developments has commenced construction works on their latest mixed-use project, Triple Hub, in East Cairo with an investment of 3.5 billion Egyptian pounds ($75 million), the company’s chairman said.

Mohamed Al-Shaer told Zawya Projects that the project spans 20,000 square metres (sqm) and forms part of Gosour Developments’ strategy to expand its portfolio of integrated commercial and service developments in East Cairo.

He said Triple Hub is being positioned as a multi-activity destination combining retail, office, medical and entertainment components.

Key features include Shorouk City’s first open green entertainment zone covering 10,000 sqm, the city’s first dancing fountain, a 300-metre technology street, a fully integrated medical complex, an elevated plaza and the largest hypermarket in Shorouk City, spanning 3,800 sqm.

Al-Shaer said Gosour Developments has partnered with a group of specialist operators to support the project, including MRB for overall operations, RECO as entertainment operator and WE as technology partner and a medical operator.

Looking ahead, Al-Shaer said Gosour Developments is preparing to launch five new projects in New Cairo, Shorouk and New Administrative Capital Egypt, with combined investments expected to exceed EGP 14 billion ($298 million).

(1 US Dollar = 46.97 Egyptian Pounds)

(Writing by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

Subscribe to our Projects' PULSE newsletter that brings you trustworthy news, updates and insights on project activities, developments, and partnerships across sectors in the Middle East and Africa.