EBRD offers $200 mln to build shopping green mall in Egypt

MENA , Thursday 4 Jul 2019

The mall will include a training centre for new retail and hospitality vendors, expected to create many new jobs


The European Bank for Reconstruction and Development (EBRD) plans to offer $200 million to finance building a green shopping and entertainment mall in Cairo.

Located in eastern Cairo, the eco-friendly City Centre Almaza is expected to be launched in September.

The 103,000-square-metre shopping mall is designed to include cutting edge green technologies for power efficiency and rationalising water consumption as well as lowering carbon emissions.

The mall is planned to include a training centre to get new vendors qualified for the retail and hospitality sectors, a move expected to create more jobs among the youth.

The EBRD has provided around $5 billion to finance more than 50 projects in Egypt since it started operations in the country in 2012.  

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