The facility will be used to finance Mall of Arabia’s new development plans, including the development of Cairo’s first in-mall IKEA store in western Cairo with a gross leasable area of 22,000 sqm.
Company eyes launching new store in Alexandria
Mall’s debt-free status will allow Marakez to continue its expansion plans, develop its current projects
MARAKEZ for real estate investment, the Egyptian arm of Saudi Arabian conglomerate Fawaz Alhokair Group, signed a memorandum of understanding with Al-Futtaim Misr for Retail to open the first IKEA store in west Cairo at the Mall of Arabia. According to the press statement issued, this will be the Swedish retailer’s second store in Egypt …
The Saudi investment group is aiming to expand its portfolio through its Egyptian subsidiary MARAKEZ
The company to establish 3 mall centers in the New Administrative Capital, New Cairo, and Tanta
Investments worth EGP 700m are expected to be injected for the development of the mall, says MNHD’s Investor Relations Manager
Our focus going forward in Egypt will be infrastructure especially energy, says IFC Country Manager
Investment will be accompanied by additional $20m loan from the CIB
