DAMAC Properties Completes The First Phase of Cairo Shopping Mega Mall
The Middle East's largest private developer DAMAC Properties has announced it has completed the first phase of its Cairo shopping mega mall.
The developer has now started the process of handing over units within the Park Avenue mall in Cairo, Egypt to customers for fit out.
Park Avenue on Cairo Alex Desert Road will be Cairo's premier boutique retail and commercial destination, with 657 retail units and 84 office units over 120,625 sqm of developed land. There is also provision for 2,050 parking spaces.
"DAMAC Properties is now a mall developer. We have built thousands of residential, office and retail units all across the MENA region and now with Park Avenue mega shopping mall we are a certified retail developer. This is a huge milestone for us" said Niall Mc Loughlin, Senior Vice President of DAMAC Properties.
The complex will host a selection of fashion boutiques as well as a multitude of stores from furniture and home accessories to jewellery, electronics and giftware. In addition there will be a range of fast food outlets, trendy cafes and restaurants, many with al fresco dining.
"Selecting the right location is extremely important for food and beverage operators like us. We looked at the demographics of Cairo, and the expected footfall of the Park Avenue Mall, and are excited about the future prospects for our cafe" said Omar Islam Shalaby from Coffee Bean, one of the F&B tenants.
As a high-end shopping destination, Park Avenue will also accommodate luxury showrooms for cars and boats, with international auto brands already confirmed to occupy spaces.
For convenience, local and international banks as well as exchanges will be situated within the compound. Additional services will include pharmacies, optical and travel agencies.
"We already have an impressive list of international brands moving to Park Avenue. There are more than 200 fashion stores, over 50 furniture and home-ware shops, as well as a plethora of small boutiques" commented Mc Loughlin.
The project is designed to have five intersecting zones, which cover a development footprint of 48,250 sqm. The design concept follows that each zone is surrounded by lush landscaped gardens and linked by outdoor avenues to create a seamless transition between the indoor and outdoor shopping experience.
"We didn't want to build just another shopping mall, we wanted to create a lifestyle destination where people come with their friends and families to enjoy the landscaped grounds, have a coffee in the al fresco cafes and lose themselves in the tranquillity of the gardens" said Mc Loughlin.
Ten minutes from the pyramids of Giza, 30 minutes from downtown Cairo and 45 minutes from Cairo International Airport, Park Avenue will be an exclusive world of boutique retail and office space which will inevitably become a favourite destination for people to work, shop and enjoy the surrounds with friends & family.
With the retail and office tenants now beginning their fit outs, the grand opening of the mall to customers will only be a short while away.
"The opening of the Park Avenue Mall will be an extravagant affair. We are very much looking forward to revealing our luxury mega mall to the world. It will be a grand and impressive shopping complex which will become one of Cairo's preeminent landmarks" Mc Loughlin concluded.
With 36 buildings, including 7374 units completed to date, DAMAC Properties has a proven track record for delivering some of the most luxurious real estate in the MENA region. The addition of Park Avenue Mall to its list of completed projects represents an extension of its international award winning property development portfolio.