A Dubai-based owner and operator of shopping malls is going on a spending spree in Egypt, with its flagship Mall of Egypt now under construction that will include Africa’s first indoor ski slope, TheNational reports.
Ski Egypt is comparable to the group’s Ski Dubai, located in Dubai’s Mall of the Emirates. Construction of the Egypt mall is expected to be complete by 2016.
A holding company based in Dubai, Majid Al Futtaim Group owns and operates retail and leisure establishments in 12 Middle East and North African countries with more than 24,000 employees including 3500 in Egypt.
Mall of Egypt is expected to occupy more than 455,000 square meters and be home to 420 retailers.
The group also plans to open 55 supermarkets in Egypt by 2019 as part of an 18-billion Egyptian pound ($2.36 billion US) spending plan.
Ski Egypt will occupy more than 16 hectares (39 acres). Construction was delayed by political unrest in the country, but has resumed.
According to Global Construction Review, the mall is being built by a joint venture between Belgian conglomerate Besix Group and Egypt’s Orascom Construction. They won the contract to build the mall, reported to be worth $400 million, in 2012.