Saudi Arabia’s Fawaz Alhokair to Establish Three New Malls in Egypt

Thursday, 23rd March 2017

Saudi Arabia’s leading real estate developer Fawaz Alhokair plans to establish three commercial malls in the New Administrative Capital, New Cairo and the Nile Delta governorate of Tanta.

Representatives from the Saudi developer have revealed the plan during a meeting with Minister of Investment and International Cooperation Sahar Nasr in Cairo.

During the meeting, the Saudi officials have expressed their company’s willingness to inject new investments into the Egyptian market. They have also discussed the completion of the EGP-1.2-bn second phase of “Mall of Arabia” in 6th of October city.

“The government puts at the top of its priorities taking necessary measures to provide an investor-friendly atmosphere and improve the business climate,” says Nasr.

Nasr adds that the government is keen on providing all means of support to encourage the private sector and Arab investors to double their investments in the country.

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