Al Hokair to invest EGP 15 bn over the next three years to expand Mall of Arabia

Saudi’s Al Hokair Group is looking to invest around EGP 15 bn in Egypt over the next three years to expand the Mall of Arabia brand, says Ashraf Farid, chief business development officer of Marakez — Alhokair’s subsidiary in Egypt. The expansion plans include building three new Mall(s) of Arabia in Tanta, New Cairo, and the new administrative capital, he tells Al Borsa. The company also plans to complete second phase of the Mall of Arabia project in Six October City, which includes a residential development that was the subject of a dispute with the New and Urban Communities Authority.