Business | Property
Al Futtaim Group unveils $9b mixed-use Cairo Festival City
Al Futtaim Group on Monday unveiled Cairo Festival City, a premier, mixed-use three million square metre development in the Egyptian Capital.
- Staff Report
- Published: 22:39 April 21, 2008
- A computer-generated image of Cairo Festival City. The city will be home to a mix of 250 international and regional retail brands, 85 restaurants, cafes and bistros.
- Image Credit: Supplied Picture
Dubai: Al Futtaim Group on Monday unveiled Cairo Festival City, a premier, mixed-use three million square metre development in the Egyptian Capital.
The privately-funded, $9 billion Cairo Festival City will be strategically located at the gateway to New Cairo City on the Ring Road, 20 kilometres southeast of greater Cairo and only 15 minutes from Cairo's International Airport.
The principal business districts of Heliopolis and Maadi are within easy reach of Cairo Festival City.
Festival Centre, to be located in the heart of the community, together with Festival Village, will form Egypt's first indoor/outdoor shopping and entertainment destination.
Festival Centre, a 140,000 square metre enclosed three-level shopping centre, will be home to a mix of 250 international and regional retail brands, including Al Futtaim brands, Toys R Us, InterSport, Ace and Plug-Ins, a hypermarket, multiplex cinema and an exciting choice of over 85 restaurants, cafes and bistros.
"Our vision for this remarkable project is to create a vibrant and modern community that will transform New Cairo City into a place that affirms Egypt's position as one of the most progressive and influential countries in the region," said Omar Al Futtaim, CEO of Al Futtaim Group.
"With the success of our flagship waterfront mixed use development situated along Dubai Creek - Dubai Festival City, and with the celebrated strength of the different Al Futtaim brands, Cairo Festival City will represent a new level of excellence in mixed-use urban communities, while demonstrating Cairo's capacity to merge cutting-edge modernity with ancient civilisation," he said.
Furthermore, Festival Village will be the place of choice when it comes to dining and entertainment, with an array of restaurants located around water features and incorporating an entertainment area which will be the venue for a comprehensive programme of performances.
Luxury hotel
Integrated into the shopping centre will be a 400-room retail luxury hotel extending into attractive landscaped gardens. An extensive banqueting and conference component, a luxurious spa and health club, garden restaurants and a rooftop restaurant will ensure that the guests have a variety of memorable experiences.
Cairo Festival City's residential districts will set new standards in modern living. Oriana Luxury Villas will be a secure and tranquil gated residential community with 480 Mediterranean styled villas. The shopping centre and phase one of the residential units will be completed by the end of 2010 and the finished development will be inaugurated in 2011.
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