Tarek Tantawi, President of the Al-Ahram Consumer Complexes, affiliated to the Holding Company for Food Industries, said that the company plans to build the first shopping mall in Katameya, covering an area of 6,000 square meters, with an investment of LE30 million.
The construction works will take two years, he added.
In a statement on Monday, Tantawi said all the necessary negotiations are already underway, pointing out that the shopping center will include cafes, restaurants and clothing stores, at affordable prices for citizens.
It will serve the residents of areas of Maadi, Mokattam, and Katameya.
Tantawi also said the total sales of Al-Ahram company's consumer complexes increased during the last fiscal year 2014- 2015, reaching around LE450 million, compared with LE250 million during the previous fiscal year 2013-2014, which supposes an 80 percent growth rate.
He added that the company's total losses decreased during the fiscal year 2014-2015, standing at LE5 million, compared with LE16 million during the previous fiscal year.
Edited translation from MENA
