Dubai-headquartered Al-Futtaim Group Real Estate is planning to launch Podium 2 commercial project within its Cairo Festival City (CFC) development by the end of 2021, the company’s managing director said. 

Ashraf Ezz Eldin told Zawya Projects that Podium 3, with a built-up area of 35,000 square metres (sqm), would feature office and retail units, and be completed in the second quarter of 2023.  

He said the 2.5-billion-pound ($159 million) Podium 1 with 6 buildings housing 422 units, is being delivered this month [March 2021] while the 2-billion-pound ($127 million) Podium 2, with 5 buildings housing 234 units, would be delivered by the fourth quarter. 

He said the first phase of the CFC Club project, launched in November last year, would be completed in the second quarter of 2022 while the second phase would be completed in the fourth quarter of the same year. 

Ezz Eldin also disclosed that the company will complete the development of the 3-million sqm CFC by 2023, noting that more than 70 percent of the land has been developed.  

(1 US Dollar = 15.75 Egyptian Pounds)  

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)  

(anoop.menon@refinitiv.com)  

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© ZAWYA 2021