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.

-Ends-

© Press Release 2019

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.