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Arabisk Development launches Khan El Wazir Mall in New Cairo with EGP 1bn targeted sales

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Arabisk Development has announced the launch of Khan El Wazir Mall, its latest commercial project in New Cairo. Spanning 2,250 square meters, the mall will offer a mix of retail and commercial spaces, with total investments exceeding EGP 700 million and targeted sales of EGP 1bn in the first quarter of 2024. The project is fully self-financed and backed by Egyptian-Emirati investments.

Chairperson Abdel Hamid El Wazir emphasized the company’s commitment to expansion, stating that Arabisk Development plans to enter several new cities to support Egypt’s national growth objectives. As part of this strategy, the company is preparing to launch two large-scale projects. The first is a 16-feddan development in Obour City, with an estimated investment of EGP 13bn. The second is a luxury tourist village in the North Coast. Combined, these two projects will exceed EGP 20bn in total investments.

Ahmed Samir, CEO of Arabisk Development, highlighted that Khan El Wazir Mall has been designed in collaboration with leading industry partners, including Archrete Incommercial and Dealers Studio. The mall will be launched in phases, with pricing determined separately for each phase.

Sales Director Ahmed Attia stated that Khan El Wazir Mall will cater to a diverse range of tenants, offering unit sizes from 22 to 150 square meters. The development aims to attract both major retail brands and small investors, reinforcing Arabisk Development’s position in the commercial real estate sector.

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