Majid Al Futtaim Commits $293M to Major Development in West Cairo

Editorial Team

Last updated 16-04-2025

2 min

Majid Al Futtaim is investing approximately $293 million in a new development in West Cairo.

The project includes thirteen buildings, a hotel, and serviced hotel apartments in 6th of October City.

Expected returns are over 30%, with sales projected to start by 2030.

Majid Al Futtaim's total investments in Egypt now approach $2.

5 billion.

This development showcases their confidence in Egypt's economic potential and commitment to the region.

Majid Al Futtaim, a major UAE-based conglomerate, has announced it's investing around $293 million—or roughly EGP 15 billion—in an ambitious commercial and administrative development in West Cairo. Set to sprawl across an immense 93,000 square metres, the project will find its home in 6th of October City, an increasingly buzzing part of the Egyptian capital.

Ahmed El Shamy, the company's CEO, spoke recently with Asharq Business, offering more in-depth details on what exactly this new development will include. We're looking at thirteen separate buildings, a rather decent-sized hotel with around 150 to 200 rooms, and a special block dedicated entirely to serviced hotel apartments. If all goes according to plan (and fingers crossed these things always do), sales for the new units should kick off by 2030.

Another key takeaway El Shamy mentioned is the project's strong commercial potential. Based on internal feasability studies, Majid Al Futtaim expects to achieve returns of over 30% from the development—nothing too shabby there. Interestingly, the company is already thinking ahead, possibly taking this model across town, maybe developing similar hotspots in East Cairo and even the New Administrative Capital.

Altogether, Majid Al Futtaim's total investments in Egypt are now sitting comfortably near the $2.5 billion mark. That's no small figure—quite an indication of the UAE giant's confidence in the Egyptian economy’s future potential.

If you've been tracking Majid Al Futtaim through platforms like Arageek, you'll know that this announcement fits into a bigger picture of their ongoing expansion within the region. It clearly shows the group's commitment to Egypt, building on successes they've already had in other developments across Cairo and beyond. If they pull it off—and there's every reason to think they will—we might well see this becoming one of those 'places to be' in Cairo, rivalling even trendy Zamalek haunts where everyone seems to want to sip their evening kahwa these days.

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