Al-Futtaim Group has launched the new expansion of Cairo Festival City (CFC) Mall, called “Festival Avenue,” in the heart of New Cairo, Invest-Gate reports.
The groundbreaking for the expansion, with investments exceeding EGP 2 bn, was carried out by Al-Futtaim Group’s vice chairman Omar Al-Futtaim, in the presence of the group’s management, several public figures, representatives of major retail brands in Egypt, and a group of media professionals and representatives from Egypt and the region.
Marking the celebration of the six-year anniversary of the CFC Mall, the new expansion will add a gross leasable area of 22,000 square meters to the existing mall, making it the largest in Egypt.
“Since the establishment of [CFC] Mall, it has proven to be one of the most successful investments of the Al-Futtaim Group in the Egyptian market. Since its opening in 2013 and until 2019, the mall has managed to reach the highest employment rate, providing about 5,000 direct job opportunities for Egyptians, and 15,000 indirect opportunities,” Timothy Earnest, Group Director – Al-Futtaim Malls added.
CFC Mall seeks to enhance the cooperation with the tourism sector, tourism companies and airline operators to coordinate attractive programs for tourists with a direct presence in Festival Avenue.
Commenting at the expansion, Hayssam Hajjar, general manager of CFC Mall stated, “Our plans will address the demand from retail brands wanting to be based at CFC Mall…The mall continues to deliver unique experiences for our retailers and customers, who accounted for 23 mn visitors in 2019 alone.”
“The new expansion will be seamlessly integrated with the current mall, including easy navigation, airy corridors, open sightlines and plenty of natural sunlight through a state-of-the-art 5,300 square meter skylight. Signature services will be offered for shopper convenience including VIP Valet Services, shop and drop services, free high-speed Wi-Fi, and many other services that provide a seamless and integrated experience for our customers,” he concluded.
The expansion will add 80 new stores, including international brands and 15 food and beverage (F&B) outlets. Festival Avenue will evolve the scope of the existing mall with a variety of indoor and outdoor alfresco dining options, with an international 1,600-square-meter Food Hall.
An elevated entertainment complex will be made available within the new expansion for games and leisure activities for all age groups. By adding over 1,000 additional parking spaces, increasing the mall’s capacity to hold 7,800 cars for shopping convenience.
Next year will see the launch of some distinguished services, including Gift Card programs and luxurious concierge services, in addition to the launch of a mobile application to combine traditional retail and modern technology.