Latest news with #MallofEgypt
CairoScene
17-04-2025
- Business
- CairoScene
Majid Al Futtaim to Launch Projects Worth SAR 19.5 Billion in Riyadh
One of these large-scale Riyadh projects is backed by SAR 15 billion to SAR 17.5 billion in investment. Majid Al Futtaim Properties has announced plans to invest up to SAR 19.5 billion in two new real estate projects in Riyadh, as part of the group's broader expansion in Saudi Arabia. According to CEO Ahmed El-Shamy, the larger of the two Riyadh-based developments will see investments ranging between SAR 15 and 17.5 billion, while the second, smaller-scale project is valued at approximately SAR 2 billion. Majid Al Futtaim currently operates several flagship properties in Egypt, including Mall of Egypt and City Centre Almaza, and has indicated plans to further scale its presence in the country. In the UAE, the group's existing portfolio continues to perform strongly, with its Dubai malls drawing approximately 3.8 million visitors per month, according to El-Shamy. These developments underscore Majid Al Futtaim's ongoing strategy to solidify its presence across the region through large-scale, consumer-driven projects.
Zawya
15-04-2025
- Business
- Zawya
Majid Al Futtaim unveils Junction: A landmark business and lifestyle hub in West Cairo
Cairo, Egypt – Majid Al Futtaim, a leading shopping mall, communities, retail, and leisure pioneer across the Middle East, Africa, and Asia, today announced the official launch of Junction, its first-ever business park in Egypt. Strategically located next to the Mall of Egypt, Junction is a cutting-edge, eco-conscious development that integrates smart technology with premium amenities to attract a diverse range of businesses. The launch of this latest development plays a pivotal role in Majid Al Futtaim's refounding journey and marks a bold step in expanding its commercial footprint, reinforcing the company's long-term commitment to Egypt's economic growth and urban development. Bringing together the premium business and lifestyle offerings, Junction spans over more than 129,000 sqm across two interconnected plots. The development features 13 cutting-edge office buildings, a curated retail and F&B experience, and sustainable infrastructure designed to achieve LEED Gold Certification. As a flagship development within Majid Al Futtaim's extensive investment portfolio in Egypt, Junction represents a dedicated investment of EGP 15 billion into West Cairo's commercial landscape. With more than 8,000 of direct and indirect roles created, Junction contributes significantly to Egypt's ongoing economic growth and urban evolution. 'Junction marks a pivotal step in our continued commitment to shaping vibrant, future-ready communities across Egypt,' commented Ahmed El Shamy, Chief Executive Officer of Majid Al Futtaim Properties. In this project, we are not just developing office spaces, we are building an integrated ecosystem that fosters innovation, attracts visionary talent, and sets a new standard for mixed-use business destinations in the region. As Egypt's market continues to show strong growth and demand for world-class infrastructure, Junction is our response: a sustainable, forward-thinking environment designed to support long-term economic vitality and environmental stewardship.' Designed with flexibility and future-readiness at its core, the business park encompasses 97,000 sqm of state-of-the-art space, offering contemporary architecture, cascading terraces, double-height lobbies, and shaded promenades that prioritize climate-conscious design. Tenants and visitors will benefit from more than 1,700 parking spaces, 40 vibrant retail outlets, 15 distinctive F&B destinations, and seamless pedestrian access to the Mall of Egypt delivering a perfectly integrated experience where productivity, connectivity, and lifestyle converge. With a proven track record in delivering transformative business parks across Oman and Lebanon, Majid Al Futtaim brings trusted regional expertise to Egypt's rapidly evolving commercial landscape. Junction is more than a workplace, it's a catalyst for a thriving, future-focused business community.
Identity
26-01-2025
- Business
- Identity
LOKAL Steals the Spotlight on Shark Tank with Vision to Empower Local Fashion
LOKAL, the innovative showroom for local fashion apparel, made waves on Shark Tank, impressing Egypt's top investors with its mission to 'Create Chances' for young brands. Established in September 2024 by childhood friends Mina Bassily (CEO), Mohamed Ashraf (COO), Fady Hisham (CTO), and Michael Hazem (CMO), LOKAL has already built a strong presence with a 620 m² store at City Centre Almaza and plans for a second facility at Mall of Egypt. The team sought 15,000,000 EGP for 15% equity, presenting a valuation of 100,000,000 EGP. Their pitch highlighted not just a sales platform but an economic ecosystem for emerging fashion entrepreneurs to grow and thrive.
