PROJECTS: Egypt's City Edge Developments appoints operator for the first phase of Mamsha Ahl Masr

Egypt's City Edge Developments, a joint venture between New Urban Communities Authority (NUCA) and the Housing & Development Bank, has appointed local company Counsel Masters to operate and manage its Mamsha Ahl Masr project in Cairo.

 

Mamsha Ahl Masr is a public promenade along the Nile's east and west banks in Cairo and Giza. It is a key part of the Egyptian government's plan to redevelop Cairo city and create large public spaces for entertainment, tourism, and shopping.

 

City Edge CEO Mohamed El-Mikawi told Zawya Projects that Counsel Masters would manage and operate the hospitality and entertainment area of the first phase of Mamsha Ahl Masr for nine years.

 

The 1.8-kilometre-long Phase 1, developed at an investment of 700 million Egyptian pounds ($45 million), is between Imbaba Bridge and 15 May Bridge and includes 20 commercial buildings, a floating restaurant, dancing fountains, and a theatre.

 

El-Mikawi said the 2.2-kilometre long Phase 2 would complete after six months, adding that the multi-phase project would extend for 60 kilometres when fully complete.

 

Counsel Masters CEO George Mitry said the company would operate, manage and market the facilities and services of the first phase, including the tenant and merchandise mix, the entertainment and touristic experiences, and organisation of events.

 

Mitry said: "We will apply international standards of management, operation, security, safety, and public health to achieve the national goal of the project so that all Egyptians can enjoy a unique experience on the banks of the Nile."

 

Mamsha Ahl Masr comprises an upper walkway with a width of 4.5 metres, a lower one with a width of 6.5 metres, and a total area of 7,066 square metres. The promenade will encompass 90 shops, restaurants, and cafeterias, a 434-square metre open theater, three stands with a capacity to accommodate 1,240 visitors, and 300 kiosks for commercial activities.

 

(1 US Dollar = 15.73 Egyptian Pounds)

 

(Reporting by Eman Hamed; Editing by Anoop Menon)