Marakez Signs Protocol with ITDA for A 5 Additional Acre Landplot in Mansoura, El Dakahlia Governorate
MARAKEZ, one of the largest mixed-use developers in Egypt, signed a contract with the Internal Trade Development Authority (ITDA) to acquire 5 additional acres bringing the total land area to 51 acres for the integrated commercial, logistics, administrative and entertainment district in Mansoura, El Dakahlia governorate. The signing was completed under the patronage of H.E Dr. Aly El Meselhy, Minister of Supply and Internal Trade; Dr. Ayman Mokhtar, Governor of El Dakahlia; Dr. Ibrahim Ashmawy, First Assistant Minister of Supply for Investment Internal Trade and Head of the Internal Trade Development Authority (ITDA).
Commenting, H.E Dr. Aly El Meselhy, Minister of Supply and Internal Trade clarified that “Our cooperation with MARAKEZ, one of the largest real estate developers specialized in establishing internationally-modeled malls in Egypt, to establish this integrated logistical, commercial, administrative and entertainment district comes within a framework of implementing the directives of his Excellency President Abdel Fattah El-Sisi, to develop and enhance the internal trade system in Egypt.”
El Dakahlia Governor, Dr. Ayman Mokhtar said that “The cooperation between the public and private sector stems from a national vision that considers the private sector a key partner in achieving the country’s sustainable development in the coming years. Additionally, this collaboration sets the scene for the private sector to support by creating job opportunities that place Dakahlia as an investment-attractive governorate, particularly as Marakez succeeded in implementing Mall of Tanta in Gharbiya Governorate which stands as one of the main shopping and entertainment destinations there, provided a full-fledged service to its citizens.”
Dr. Ibrahim Ashmawy, First Assistant Minister of Supply for Investment Internal Trade and Head of the Internal Trade Development Authority stated that “Adding another 5 acres to the project portrays our trust in Marakez’s ability to implement a meaningful commercial and logistics destination that would truly stand out. The district will be a premium destination with entertainment sections covering movie theaters, restaurants, banks, pharmacies, gyms, car show rooms, a hypermarket, among other uses. The first phase that includes Mall of Mansoura is planned to open in 2023. The second phase will include administrative and retail offices.”
Commenting, Marakez CEO Basil Ramzy said that “Acquiring these additional 5 acres within the integrated commercial, logistics, administrative, and entertainment zone is part of MARAKEZ expansion plan to develop shopping destinations that offer a full range of offerings. The partnership between the Internal Trade Development Authority and MARAKEZ to develop the integrated zone is because of their trust in our ability to deliver on time quality projects and expertise in managing them,” said Basil Ramzy, CEO of MARAKEZ.
Innovation is the secret behind MARAKEZ’s success. We’re building on the success of Mall of Tanta, the 1st internationally modeled mall outside Cairo and Alexandria. Mall of Tanta has the highest number of visitors per square meter in Egypt – even compared to the largest malls in Cairo – and we are confident that Mall of Mansoura will add to the company’s outstanding set of projects.
Located 5 minutes away from Downtown Mansoura and on the Mansoura – Talkha Road, Mall of Mansoura will feature a 6,000 m2 hypermarket, a 10-screen Cineplex, a food court, dining and entertainment facilities, and international fashion brands all centered around a series of outdoor piazzas with over 2,150 parking spaces. The mall is spread over 150,000 m2 will feature 45,000 m2 of built-up area and 40,000 m2 of Gross Leasable Area (GLA)as well as an outdoor space for activities and family fun.”
Mall of Mansoura is the second commercial development MARAKEZ has undertaken in the Delta region and the second internationally modeled mall outside Greater Cairo and Alexandria. Mall of Tanta, which was opened in 2019, is the first internationally modeled mall in any of Egypt’s secondary governorates occupying over 135,000 m2.
Mall of Mansoura and Mall of Tanta are part of MARAKEZ’s strategic investment plan in Egypt of more than EGP 24 billion focusing on key projects in Cairo and other gove
