Cairo – Mubasher: Al Futtaim, a large conglomerate operating in the UAE, is the corporate that plans to expand Cairo Festival City mall, not Majid Al Futtaim as Enterprise, a daily subscription-only roundup of news and trends in Egypt, mistakenly announced on Sunday, 14 April.
Cairo Festival City is a property of Al Futtaim, a group separate from Majid Al Futtaim which stated to Enterprise that “While they are both Emirati companies, they are completely separate entities. The Festival City brand is owned and operated by Al Futtaim, while Majid Al Futtaim owns and operates Mall of Egypt and City Centre Maadi and City Centre Almaza, which will open this year. Other brands owned by Majid Al Futtaim in Egypt include Carrefour and VOX Cinemas.”
On Sunday, it was announced that Al Futtaim plans to add 22,143 square metres (sqm), called Festival Avenue, as an expansion of Cairo Festival City Mall (CFC Mall).
The announcement took place on the sidelines of the first Egypt Retail Summit (ERS), in the presence of several local and international officials and leaders in the retail sector.
“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,” Timothy Earnest, CEO of Al-Futtaim Malls, said.
The new extension will comprise 120 stores including 60 retail shops offering numerous international brands, 20 new food and beverage outlets, the statement highlighted.
Festival Avenue will feature two new brand entertainment concepts, providing an unparalleled shopping and lifestyle experience to brand entertainment concepts, providing an unparalleled shopping and lifestyle experience to New Cairo.