MAF Shopping Malls sign land contract in Egypt

DUBAI — MAF Shopping Malls recently made a key land purchase in 6th of October City, west of Cairo.

By A Staff Reporter

Published: Fri 10 Aug 2007, 9:54 AM

Last updated: Mon 26 Aug 2024, 1:49 PM

The site, which stretches across 399,400 square metres, is poised to extend the 'City Centre' brand further into the burgeoning Egyptian retail market via a signature mixed-use regional mall.

The plot of land, located on Al Wahat Road adjacent to Media City, is an ideal site for this project and is positioned to meet the needs of the local community and tourists alike. The Centre will also be home to anchor stores including Carrefour — the world's second largest retailer. The mall's primary trade area will comprise of 6th of October City, Shaik Zayed City, Al Giza, Al Haram (Pyramids), Al Doki, Al Mohandiseen, Al Mansooriya, Al Maryoutiya and the downtown area of Cairo City.

The land purchase contract was signed by Mukbil Hamza, the legal consultant for Bahgat Group of Companies and Yasser Gamali, Executive Chairman for MAF Misr in the presence of Yahia Qadri, Salah Shadi, Ahmed Abou Bakr, Issam Tawfiq, Hassan Al Shafai and Tariq Muharam.

Yaser Gamali Chairman of MAF Misr, a subsidiary of the Majid Al Futtaim Group, said; "The retail landscape in Egypt has been growing at a rapid pace and we expect the market to sustain these high levels of growth. Based on the success of our existing shopping malls in Cairo and Alexandria, MAF Shopping Malls is at an advanced stage to commence construction of a number of new malls in Egypt. This is part of our plans for further expansion into the Egyptian market place in conjunction with the growth of MAF Hypermarkets — Carrefour. Our ambitious plans include provisions for five additional malls in Cairo, comprising three Community Centres - Nasr City Centre, Nozha City Centre and Al Maza City Centre and two regional malls."