Marakez's key Egyptian mall on track for 2023 opening
CAIRO
SHARE
Marakez, one of the largest mixed-use developers in Egypt, said work is moving at a steady pace on its
Mall of Mansoura project in the country's Dakahlia governorate, which is due for completion in 2023.
Once ready, the mall will boast a 6,000-sq-m hypermarket, a 10-screen cineplex, a food court, dining and entertainment facilities, and international fashion brands.
This is its second mall being opened for the public after the great success of Mall of Tanta which Marakez launched in 2019. It is also the second internationally modeled-mall outside Greater Cairo and Alexandria.
Mall of Tanta, which was opened in 2019, is the first internationally modeled mall in any of Egypt’s secondary governorates occupying over 135,000 sq m.
Giving a project update, Marakez said nearly E£1.5 billion ($95.2 million) investments have been set aside for the Phase One of the key retail development.
It aims to offer world-class retail, dining and entertainment options to the Delta region, serving the needs of more than 7 million people living in Dakahlia Governorate, stated the company at a major press conference.
It was attended by Dr Aly El Meselhy, Minister of Supply and Internal Trade; Dr Ayman Mokhtar, Governor of El Dakahlia; Dr Ibrahim Ashmawy, Deputy Minister of Internal Trade and Chairman of Internal Trade Development Authority (ITDA); Ahmed Badrawi, Executive Vice Chairman of Marakez, and Marakez CEO Engineer Basil Ramzy.
According to him, the project will create over 20,000 direct and indirect job opportunities throughout its development and operation.
"We cooperate with Marakez, one of the largest real estate developers specialized in establishing internationally-modeled malls in Egypt, to establish this integrated logistical, commercial, administrative and entertainment district," he added.
Located 5 minutes away from Downtown Mansoura and on the Mansoura - Talkha Road, Mall of Mansoura will feature a food court, dining and entertainment facilities, and international fashion brands all centered around a series of outdoor piazzas with over 2,150 parking spaces.
The mall is spread over 150,000 sq m and will feature 45,000 sq m of built-up area and 40,000 sq m of Gross Leasable Area (GLA) as well as an outdoor space for activities and family fun, he added.
"The first phase of the Commercial and Logistics district in Dakahlia Governorate includes the establishment of a commercial mall – Mall of Mansoura with entertainment facilities such as cinemas, amusement parks, bank branches, pharmacies, gymnasiums, car showrooms, hypermarkets, and more is set to open during 2023," said Dr Ashmawy.
The second phase will also include a hotel building as well as administrative and commercial offices, he added.
Badrawi said at Marakez, our malls are premium destinations for retail, dining and entertainment, and today marks another important milestone for us as we celebrate our partnership with ITDA in developing Mall of Mansoura.
The strong relations with ITDA stems from our long-standing partnership, which is why we are proud to support Egypt’s economic development through trade and job creation for thousands of Egyptians across the country, while expanding our business portfolio,” said Ahmed Badrawi, Executive Vice Chairman of Marakez.
“We currently have over 300,000 sq m of GLA that we operate and look forward to add more. We have invested over 11 billion to date and will invest another 10 billion in the coming 3 years in our current projects," he added.-TradeArabia News Service
