Dubai-based property developer Al-Futtaim is planning to start new expansion works on its flagship Cairo Festival City next year, managing director Ashraf Ezz El-Din said on Wednesday. With investments of one billion Egyptian pounds ($55.7 million), the expansion works will be completely executed over 27,000 square metres within 2020, Ezz El-Din told Amwal Al Ghad. Cairo Festival City is a visionary mixed-use urban community project strategically located at the gateway to New Cairo on a total space of three million square metres. "The Cairo Festival City project is to include commercial and administrative works over 350,000 square metres, along with residential units over 1.1 million square metres, and hotels over 41,000 square metres," he added.
