- Ezz El Din: “With its compelling investment climate and real estate sector’s flexibility, Egypt proudly embraced CFC; Al-Futtaim Group Real Estate’s second ground-breaking projects that spans over 3 million SQMs with more than EGP 15 billion investments.”
Cairo: Under the patronage of The Ministry of Housing, Utilities & Urban Communities, Al-Futtaim Group Real Estate– an affiliate to the Emirati Al-Futtaim Group - participated in Cityscape’s conference. The largest venue gathering Egypt’s most prominent real estate investors and developers took place on the 20th and 21st of September, 2021 at the Four Seasons Nile Plaza Hotel - Cairo. AFGRE engaged in Cityscape’s panel discussion with a talk titled: “Navigating Egypt’s Asset Classes: A Snapshot of 2021 and Beyond’.
“Leveraging its compelling investment climate and real estate sector’s flexibility, Egypt has proudly embraced Cairo Festival City (CFC); Al-Futtaim Group Real Estate’s second ground-breaking projects that spans over 3 million SQMs. Back in 2005, Al-Futtaim Group Real Estate dedicated more than EGP 15 billion investments to first introduce the revolutionary concept of integrated mixed-use communities to Egypt, entrenching its strategy towards exporting real estates on 4 key pillars.” stated Managing Director of Al-Futtaim Group Real Estate), Eng. Ashraf Ezz El Din.
He added: “Thanks to its strategic location, integrated mixed-use communities with its residential, administrative, commercial, touristic and entertainment projects, the witnessed quality & efficiency of its proposed projects, along with the high-end standards of its after-sales service, Cairo Festival City became Egypt’s most sought-after destination for well-renowned investors and elites seeking the luxury of living.”
Revealing CFC’s construction progress, Ezz El-Din commented: “78% of CFC’s projects are successfully completed; where construction works at (Oriana IV) villas are fully accomplished and ready to be delivered in 2021, (Festival Living) apartments with its first, second and third phases reached 100%, 95% and 50% respectively, and (Aura) apartments marking 60% progress. Moving to CFC’s commercial and administrative projects, 72% of (The Business District) has been implemented, 70% for (The Podium One) to be delivered by Q2 2022, followed by (The Podium II) in 2023, with 60% progress.”
-Ends-
About Cairo Festival City:
Cairo Festival City’s lifestyle and amenities truly captivate the world’s attention, while setting a higher benchmark for integrated mixed-use community living, with many choices at hand. Setting the best example of a self-sustaining eco-friendly “City within a City”, CFC offers remarkable experiences for every resident, tenant and visitor with its avant-garde villas, lavishing apartments, high-end administrative offices, elite shopping mall, world-class hotels, international school, state-of-the-art service centres and sophisticated automotive park.
© Press Release 2021
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