Tuesday, 2 October 2012

Al-Futtaim, Emaar plan $820 mln Egypt investment | Reuters

Al-Futtaim Group and Emaar Properties, two real estate developers from the United Arab Emirates, plan a 5 billion Egyptian pound tie-up to build a retail and entertainment complex outside Cairo, Al-Futtaim said on Tuesday.

The companies said they reached a preliminary decision to develop the "Cairo Gate" complex on 160 acres of land off the Cairo-Alexandria desert highway, a statement said.

A shopping mall would be the centrepiece of the development, complemented by an office park, luxury hotel, schools, medical facilities and residential space.

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