Ezz El-Din: “Expansion in the establishment of industrial cities is an opportunity to raise high demand on administrative and commercial units”
Ezz El-Din: “Cairo Festival City is the second largest integrative project by Al-Futtaim Group Real Estate, encompassing units varying between residential, administrative, commercial, entertainment, educational, and touristic all in one place”
Al-Futtaim Group Real Estate, the real estate development and operations arm of Al-Futtaim Group, is the platinum sponsor at the Invest-Gate’s roundtable under the title: “Going Commercial … The Future of Egypt’s Real Estate Market”. Featuring the participation of a diverse high-profile regional and international industry experts in the Egyptian real estate sector, the event discussed the future of the Real Estate market and real estate investments in Egypt.
In this context, Eng. Ashraf Ezz El-Din, Managing Director of Al-Futtaim Group Real Estate, stated: “We highly appreciate the efforts exerted by the country to support the real estate market, which is reflected in the establishment of new smart cities, including industrial projects.” He affirmed that the industrial and real estate sectors play pivotal roles in opening new channels for a competitive and sustainable economy. Furthermore, it surely opens new direct and indirect foreign investment opportunities.
Furthermore, Ezz El-Din said: “As the country is invested in establishing industrial cities across Egypt in the upcoming years, we see it as a window to increase the demand on administrative offices, and commercial units to serve the employees in these districts, which aligns with the goal of Al-Futtaim Group Real Estate’s Cairo Festival City (CFC). Located in a strategic spot at the heart of new Cairo, Cairo Festival City is nearby several industrial areas in greater Cairo.”
He also added: “With the varying increase in the demand of the real estate sector, Cairo Festival City has become one of the most sought-after destinations for elite investors and residential luxury seekers. CFC is recognized as the second largest integrative project by Al-Futtaim Group Real Estate, encompassing units, varying between residential, administrative, commercial, entertainment, educational, and touristic, all in one place.”
On the project’s progress, Ezz El-Din stated: “We’ve completed the development of 80% of the project, which includes the completion of construction work of “Oriana IV” villas; and the first and second phases of the residential units of “Festival Living” reached 60%. In addition, the progress of the residential units in “Aura” has reached 75%, meanwhile the progress of the completion of the administrative and commercial section of the “The Business District” has reached 72%. Likewise, it is slated to deliver the project “The Podium One” by the second quarter of 2022, which will be followed by the submission of “The Podium Two” in 2023, where the first phase has recorded an 80% in progress and 70% in the second phase.
About Cairo Festival City:
Cairo Festival City’s lifestyle and amenities truly captivate the world’s attention, while setting a higher benchmark for integrated mixed-use community living, with many choices at hand. Setting the best example of a self-sustaining eco-friendly “City within a City”, CFC offers remarkable experiences for every resident, tenant and visitor with its avant-garde villas, lavishing apartments, high-end administrative offices, elite shopping mall, world-class hotels, international school, state-of-the-art service centers and sophisticated automotive park.