Find in the news:
BY COUNTRY

The Mall of Egypt to open very close to the Pyramids of Giza



Only a few miles from the ancient pyramids but light years away from the spirits of the dead Cairo is erecting a whole new edifice.

In an effort to be known as more than a tourist mecca for those hundreds of thousands who come annually to Egypt to see the pyramids, The Mall of Egypt offers locals and tourists a different experience.  Besides nearly two million square meters of retail space, like new malls on the Arabian Peninsula and in North America, The Mall of Egypt—due to be completed in 2015—has something for everyone.

The newest shopping center on the Gulf has been erected with the aim of attracting more than shoppers. Their goal is to lure people to spend their leisure time in the huge food courts. Besides eating and drinking developers are confident people will come to use the cinemas, the ski slopes and children’s entertainment facilities.

Mall developers are well aware that the economy of the area works against them. Political turmoil has devastated the economy. Other malls in Cairo are experiencing retail vacancy rates of 25% with newly opened malls facing even higher rates.

What’s going to make nearly seven-million-dollar Mall of Egypt fare better in an economy where locals traditionally shop in local markets? Add to political and culture difficulties the fact that a quarter of the Egyptian population is living below the poverty line on $1.25 a day. Nevertheless, mall developers estimate 20% of Cairo’s three million people will go to the new concept mall.

Much of the financing is foreign. Many new ventures are being financed by billions of dollars from privately-held property developers. The Mall of Egypt has lots to offer whether you are a shopper or seeking dining or entertainment opportunities. An awesome snow complex beside the mall.

Managing director of the project, Mohamed El-Mikawi comments, “The mall is not just a place to shop. It has multiple uses.” Retailers eager to get involved in the Egyptian retail market include Marks & Spenser. Mark Koprowski, regional director of Marks& Spenser’s Middle East branch commented  that despite high customs duties on goods and the poor economic status of Egypt which has weakened the value of the Egyptian, he is confident that “customer spending has always been there."

With half the stores unoccupied in Cairo’s newly opened Cairo Festival Mall, time will tell whether investors will see a good return on their investment in The  Mall of Egypt.




More about shopping malls in Egypt



TODAY, Italy:
The subsidiary of the leading Arabian group starts projects in Milan and Turin.
TODAY, France:
The group completed over 500 leasing deals and enhanced retail portfolio with over 100 new brands.
DAY BEFORE YESTERDAY, United Kingdom:
Croydon Council approves plans to build £1.4 billion shopping center.
Nov 16, 2017, France:
Les Ateliers Gaîté projects to be based in central Paris and La Part-Dieu in Lyon, France.
Nov 15, 2017, Serbia:
Ada Mall will be the first shopping mall of the newest generation in Belgrade, Serbia.
Nov 14, 2017, Russia:
The FORT Group is acquiring the entire retail portfolio in Moscow from IMMOFINANZ in a share deal.
Friend
and Follow
Asheville Outlets GLA:325 000 SF
ADDRESS: 800 Brevard Road, Asheville, NC 28806
USA . Asheville
Asheville Outlets
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Westfield World Trade Center GLA:365 000 SF
ADDRESS: World Trade Center, Manhattan, NY 10007


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us