Dubai Mall developer launches Cairo project
The Egyptian subsidiary of Dubai based developer Emaar has launched Egypt’s largest open mall project in Uptown Cairo that will also include a 250 room five star Address Hotel and serviced residences; 1200 homes; and a business square featuring commercial offices and leisure amenities.
Billed as a ‘city within a city’, the total development will span 250,000 sq m and is part Emaar Misr’s $2.1bn Uptown Cairo project.
“Cairo is fast becoming one of the most attractive real estate markets in the MENA region in terms of its potential long term opportunities and growth,” Mohamed El Dahan, CEO of Emaar Misr.
“Uptown Cairo is a one of a kind luxury development, bringing an entirely new definition to modern living. The crowning jewel of Uptown Cairo, Emaar Square represents an exciting new chapter, a new residential and lifestyle offering that builds on our commitment to investing further in the city’s economic growth and responds to a growing demand for premium real estate. It is part of our development strategy to create a true urban masterpiece in the city,” El Dahan added.
Described as channeling the boulevards of Barcelona’s Las Ramblas, Beverley Hills’ Rodeo Drive and Champs-Élysées in Paris, the project will be built on Cairo’s highest point, providing panoramic city views. Using its experience on Dubai Mall, the world’s current largest retail and entertainment destination, Emaar has already announced retail investments are planned to reach $0.5bn
The project will be showcased at Cityscape Global, opening at Dubai World Trade Centre, Tuesday October 2.