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Massive Alexandria City Centre extension opens.

(Dateline: Cairo )

The massive 29,000 sq m extension of Alexandria City Centre, the only regional mall in the city, has been inaugurated.

The new extension has almost doubled the size of the mall and made it the biggest shopping, leisure and entertainment destination in the city of Alexandria.

"We have invested over EGP370 million ($67.4 million) in building this new modern facility that has created 2500 employment opportunities. Our investment in Egypt will continue as we have every confidence in the government and the economy," stated Magued Sherif, chairman and chief of MAF Misr for Commercial and Real Estate Investments, Majid Al Futtaim Group.

"When Alexandria City Centre first started trading in 2003, it was a smaller community mall with 82 stores. The phenomenal success of the mall's performance in the last six years, coupled with demand for space from retailers, led us to embark on this expansion project. The success of Alexandria City Centre is a testimony to the growing acceptance of modern retail concepts in Egypt." added Steve Lalic, vice president Leasing and Asset Management for MAF Misr.

Seventy nine new retailers have been trading at the new Alexandria City Centre development since September with some of the world's best brands making their Egyptian debut at the extension, taking the total number of retail stores in the mall to 161.- TradeArabia News Service

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Publication:TradeArabia (Manama, Bahrain)
Geographic Code:7EGYP
Date:Oct 4, 2009
Words:247
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