Dubai-based developer Al-Futtaim is investing EGP 2 billion in an extension for Cairo Festival City Mall which will house 80 retailers, the company said on Sunday at a press conference.
The 22,143-square metre extension, called Festival Avenue, will feature 80 world famous brands, 15 food and beverage stores and Egypt's first international food hall.
Thw two-storey extension is due to open in 2022.
Cairo Festival City Mall, which opened in 2013, is now home to over 300 shops, including Swedish furniture brand IKEA.
Al-Futtaim owns and operates shopping malls, hotels and schools in the Middle East and North Africa.