Majid Al Futtaim invests EGP 15B in new commercial project in West Cairo
Updated 4/15/2025 8:12:00 AM
Arab Finance: Majid Al Futtaim Group plans to develop a new commercial and administrative project in Egypt with investments reaching EGP 15 billion ($293 million), CEO Ahmed El Shamy told Asharq Business.
The project will span 93,000 square meters in 6th of October City, West Cairo.
The development will include 13 buildings, a hotel with a capacity of 150 to 200 rooms, and a separate building for hotel apartments. Sales are scheduled by 2030.
El Shamy said the company may replicate this model in East Cairo and the New Administrative Capital.
The new project is expected to deliver a return on investment exceeding 30%, based on feasibility studies.
El Shamy also noted that the group's total investments in Egypt now stand at approximately $2.5 billion.
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