Orouba Misr Development unveiled on October 17 that construction works at “Orouba Mall” in Damanhour have commenced on-site, with investments worth EGP 5 bn, Invest-Gate reports.

The project’s launching came during a site visit to laud the latest addition, in the presence of Orouba CEO Hazem El Deeb, Minister of Supply and Internal Trade Ali Meselhy, and Governor of Beheira Hisham Amna, according to a recent press release.

Celebrating the major step, Orouba Misr also organized a concert at Damanhour Opera House, Beheira Governorate, featuring the talented Lebanese singer Wael Gassar and witnessing the attendance of some ministerial officials, alongside several representatives of Orouba Misr and UAE-based Al-Futtaim Group.

Hazem El Deeb, CEO of Orouba Misr Development, praised the new progress, stating, “We believe that the government and private sector must work hard to achieve Egypt Vision 2030, while leading on real estate development, including building new residential and commercial projects. We must pay attention to the promising investment opportunities nationwide, especially that many areas need similar services, which are primarily aimed at social development.”

The company is cooperating with the Ministry of Housing, Al-Futtaim Group, and one of the largest engineering and consultancy offices in Egypt to build Orouba Mall based on the latest international standards. The one-story center will be nine meters high and will include a number of retail outlets such as Carrefour supermarket.

Counting as the seventh development to the company’s portfolio, Orouba Mall is the fourth commercial project to be undertaken by Orouba Misr, following its Alexandria and Tanta malls, not to mention El Sharkia Skyline project, the statement noted.

On the sidelines, Meselhy confirmed that six logistic and commercial opportunities will be uncovered in six other governorates next November, namely in Ismailia, Suez, Red Sea, Sharkia, Fayoum, and New Valley.

For his part, Amna explained that the government is intensifying its efforts to finalize the construction of the new logistics zone in Damanhour, which recently witnessed the placement of its foundation stone on Cairo-Alexandria Agricultural Road and is expected to be completed within two years.

According to the governor, the logistics zone is being developed with investments amounted to EGP 5 bn, aiming to serve more than 10 mn people, while providing 17,000 job opportunities.