In a press conference in MAPIC Exhibition in French Cannes, Prime Egypt has announced Prime Real Estate Development signing a contract for the first outlet mall for brands, in cooperation with English Free Port company, one of the most prominent companies on the field that contributed to developing the top malls in Europe.
Tamer Wageh, chairman of the group, spoke during the conference about the economic development Egypt has seen over the past few years and the continuation of growth and investments in the Egyptian market. Wageh pointed out that the Egyptian market is the most prominent trade ports to Africa and the Middle East. Wageh made his speech in the presence of the vice chairman of the group, Mohamed Farrag, and board member Abdelmoneim Azmy.
Wageh added that the outlet mall will be completely different from any mall that currently exists in Egypt in terms of the brands that will be in it with different prices. He explained that the location of the mall was chosen to be outside populated areas to ensure competitiveness and contribute to supporting tourism and attracting foreogn investments.
During the conference, the chairman of Free Port said that over the past 4 years he has been keen on working in Egypt in light of the clear development of the market in this ancient country with a youthful vision and rapid developments in major projects, something he hadn't seen in regular market.
The press office of Prime announced that the name of the mall will be Prime Outlet Cairo and will be located on the regional ring road near the New Administrative Capital, stressing that it will be ready for opening within 18 months.
© Press Release 2019