|19 August, 2019

Saudi Alhokair invests $301mln in Egypt's Mansoura mall

The project will be established over an area of 46 feddans

Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

Getty Images

Cairo –  Marakez for Real Estate Investment, a subsidiary of Saudi Arabia’s Fawaz Abdulaziz Alhokair, is set to lay the cornerstone of a new commercial mall in the Egyptian city of Mansoura in December, the Middle East News Agency (MENA) reported, citing the head of the Internal Trade Development Authority (ITDA) Ibrahim Ashmawi as saying.

With investments worth EGP 5 billion, the project will be established over an area of 46 feddans within a period ranging between two to three years, Ashmawy added.

The commercial mall is expected to create about 20,000 direct jobs and 75,000 indirect jobs, he noted.

Source: Mubasher

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