Egypt - Al-Futtaim Group Real Estate, an affiliate to the Emirati Al-Futtaim Group, announced 78% completion of Cairo Festival City (CFC), the company’s second ground-breaking projects, the company said in an emailed press release.

The project spans over 3 million square meters.

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.

“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,” Ashraf Ezz El-Din, Managing Director of Al-Futtaim Group Real Estate, commented.

In 2005, the real estate developer allocated 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 estate on 4 key pillars.

 

 

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