ALEXANDRIA: The development and expansion plan for Alexandria City Centre began last month, and the project will see the mall almost double in size, according to a statement released to the press.
The expansion project, which will cost an estimated £E 370 million, will add 29,117 square meters of gross leasing space to take its total offering to 62,162 square meters and over 90 additional stores.
The new extension will house anchor stores such as Home Centre and Centre Point, spread over 11,481 square meters, six international retailers – including H&M and Debenhams – as well as other known brands, bringing the total number of retailers in Alexandria City Centre to more than 190.
Expected to be completed in September 2009, the project will be divided into three phases to include building of the new mall, renovation of few stores in the existing mall and construction of the parking lot.
The existing mall will be given an overall facelift on both the exterior and interior elements, enhancing its landscape with water features and brand new external lighting effects. The parking lot, once completed, will be similar to the one at Mall of the Emirates in Dubai with circulating walkways for the safety of customers.
Steve Lalic, vice president of leasing and asset management, MAF Misr said, “This redevelopment and expansion project is a sign of the immense growth that Alexandria City Centre has witnessed since its inception in 2003. Last year alone the mall attracted 11.5 million visitors through its doors, while sales went up 19 percent.
“As leaders of the shopping, entertainment and leisure concepts in the country, we study trends very closely and strive to continually evolve our product offering in relation to the ever-changing market. Our aim is to provide our visitors with a truly international shopping environment.
“The new extension, innovative designs and retail concepts will offer our customers just that – one of the most rewarding retail ambiance in the country, added Lalic.
The expansion is expected to create more than 5,000 (direct and indirect) job opportunities to Alexandria.
