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Sunday, 23 December 2018

West Cairo is getting an Ikea as Marakez, Al Futtaim ink agreement

EXCLUSIVE- West Cairo is getting an Ikea. Fawaz AlHokair Group’s Marakez has inked a long-term lease agreement with Al Futtaim Misr for Retail to open a 20k sqm Ikea store at Mall of Arabia in West Cairo, according to a statement (pdf). The outlet will be the second in Egypt for the Swedish home furnishing brand following its inaugural store in Cairo Festival City. Construction on the facility at Mall of Arabia will begin in January, with the store set to open in 2020 as an anchor of Mall of Arabia’s phase two extension. “The Ikea brand has been incredibly successful since its introduction in Egypt. Bringing Ikea to the Mall of Arabia enriches the retailing experience for all of West Cairo and reinforces the Mall of Arabia’s position as the premier shopping destination,” said our friend Dasha Badrawi, vice-executive chairman of AlHokair Group.

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