APRIL 14, 2019
Al-Futtaim Malls has announced the launch of a new 22,143 sqm expansion to Cairo Festival City Mall. The new area, called ‘Festival Avenue’, will bring a further 120 shops, including 60 retail stores offering numerous international brands, 20 new food and beverage outlets and two brand new entertainment concepts, providing an unparalleled shopping and lifestyle experience to New Cairo.
The announcement came during the very first Egypt Retail Summit (ERS), in the presence of Dr. Ali Moslehy, Minister of Supply and Internal Trade, as well as several local and international officials and leaders in the retail sector.
Speaking on the sidelines of ERS, Timothy Earnest, CEO of Al-Futtaim Malls stated: “The retail sector in Egypt is witnessing huge growth and we want to further support its development. Cairo Festival City and Cairo Festival City Mall has always been the gateway to New Cairo in the heart of all the action, that is what truly sets it apart from any other retail destination. As part of our ongoing commitment to provide exceptional experiences to our shoppers we are thrilled to announce the launch of Festival Avenue which delivers an even further elevated experience and supports our vision of creating a distinct retail concept and true retailtainment destination.”
“The brand-new Festival Avenue luxury expansion will truly position Cairo Festival City as setting the standard of retail in Egypt as it becomes Egypt’s premium urban entertainment and retail destination,” he concluded.
Just 20 minutes from Cairo International Airport and 30 minutes from Cairo Tower, Cairo Festival City Mall serves a population of over 3.1 million in the primary and secondary trade areas. According to latest figures from Global Retail Strategies, New Cairo City is expected to experience 15 percent per annum growth in population for the coming years.
Festival Avenue will have approximately 1,000 parking spaces and a new to market 1,567 sqm food hall featuring outlets with both inside and outside terraces. It features simple circulation patterns and seamless integration with existing Mall including transport infrastructure. Strategically situated to the east of Cairo’s Ring Road, Cairo Festival City is easily accessible to neighborhoods such as Maadi, Helipolis and Nasr City.