Under the patronage of The Ministry of Housing, Utilities & Urban Communities, Al-Futtaim Group Real Estate – an affiliate tothe Emirati Al-Futtaim Group – participated in Cityscape’s conference. The largest venue gathering Egypt’s most prominent real estate investors and developers took place on the 20th and 21st of September, 2021 at the Four Seasons Nile Plaza Hotel – Cairo. AFGRE engaged in Cityscape’s panel discussion with a talk titled: “Navigating Egypt’s Asset Classes: A Snapshot of 2021 and Beyond’.
“Leveraging its compelling investment climate and real estate sector’s flexibility, Egypt has proudly embraced Cairo Festival City (CFC); Al-Futtaim Group Real Estate’s second ground-breaking projects that spans over 3 million SQMs. Back in 2005, Al-Futtaim Group Real Estate dedicated more than EGP 15 billion investments to first introduce the revolutionary concept of integrated mixed-use communities to Egypt, entrenching its strategy towards exporting real estates on 4 key pillars.” stated Managing Director of Al-Futtaim Group Real Estate), Eng. Ashraf Ezz El Din.
He added: “Thanks toits strategic location, integrated mixed-use communities with its residential, administrative, commercial, touristic and entertainment projects, the witnessed quality & efficiency of its proposed projects, along with the high-end standards of its after-sales service, Cairo Festival City became Egypt’s most sought-after destination forwell-renowned investors and elites seeking the luxury of living.”
Revealing CFC’s construction progress, Ezz El-Din commented: “78 per cent of CFC’s projects are successfully completed; where construction works at (Oriana IV) villas are fully accomplished and ready to be delivered in 2021, (Festival Living) apartments with its first, second and third phases reached 100 per cent, 95 per cent and 50 per cent respectively, and (Aura) apartments marking 60 per cent progress. Moving to CFC’s commercial and administrative projects, 72 per cent of (The Business District) has been implemented, 70 per cent for (The Podium One) to be delivered by Q2 2022, followed by (The Podium II) in 2023, with 60 per cent progress.
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