Esprit Digital
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



Feb 15, 2019, Finland:
Mall of Tripla, the shopping centre that will be opened in Central Pasila in autumn 2019.
Feb 15, 2019, USA:
Brand's first Arizona club to serve as a new community hub for holistic healthy living.
Feb 14, 2019, USA:
Green Growth Brands opened the first of more than 100 shops in American malls selling CBD-infused products.
Feb 13, 2019, United Kingdom:
The fast growing operator of premium outlets reports strong results, boosted by increased footfall and average spend per guest.
Feb 8, 2019, USA:
Bowling, karaoke, ping pong and arcade concept joining AMC Theatres to round out third-floor entertainment zone.
Feb 7, 2019, United Kingdom:
The £72 million construction at intu Lakeside will introduce new restaurants and leisure brands to the southeast of England.
ICSC ECE

Friend
and Follow
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet
Jardim Pamplona GLA:118 403 SF
ADDRESS: R. Pamplona, 1704 - Jardins São Paulo
Brazil . Sao Paulo
Jardim Pamplona
Silesia City Centre GLA:699 654 SF
ADDRESS: Chorzowska 107
Poland . Katowice
Silesia City Centre
Arkadia GLA:1 184 030 SF
ADDRESS: Aleja Jana Pawla II 82, 00-175
Poland . Warsaw
Arkadia


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