Minister of Investment and International Cooperation Sahar Nasr and Minister of Housing and Urban Utilities Mostafa Madbouly went on an inspection trip on February 28 to Majid Al Futtaim’s most recent USD 722 mn project, Mall of Egypt, Invest-Gate reports.
The project’s inauguration is tomorrow, on March 2. Other than the shopping center, Nasr and Madbouly visited “Ski Egypt,” a park where Egyptians can experience snow without having to travel north. The park is the first of its kind in Africa and a larger-scale replica than that of Dubai’s Mall of the Emirates. The ministers also visited the “Magic Planet” amusement center and “Young Explorers,” the child edutainment center, according to a company statement.
Majid Al Futtaim has invested more than EGP 300 mn in developing the 10-square-kilometer road network surrounding Mall of Egypt. This investment aims at providing safe entrances and exits to the shopping center, as well as enhancing traffic in the area.
The mall is expected to offer 41,000 job opportunities, directly and indirectly. It also provides a total rentable area of 165,000 square meters, in addition to parking spaces taking up 6,500 cars.