November 24, 2021

Al Futtaim Group to inject EGP 8B in Cairo Festival City


ArabFinance: Al Futtaim Group Real Estate is planning to invest EGP 8 billion in Cairo Festival City within the coming two years, Al Borsa News reported.

The real estate developer intends to establish two hotels that include 500 rooms at a total cost of EGP 5 billion.

The group will also establish commercial buildings at a cost of EGP 3 billion.

It is worth noting that the group has achieved contracted sales of EGP 3 billion during the first 10 months of 2021, with a target to grow its contracted sales by 15% in 2022.

arabfinance


Categories : real estate

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