Arab Finance: Majid Al Futtaim has launched ELMNT33° at Mall of Egypt with total investments of EGP 457 million, according to an emailed press release.
The launch expands the UAE-based group’s portfolio of integrated retail and lifestyle destinations in the Egyptian market. This is part of Majid Al Futtaim’s strategy to develop destinations that extend beyond traditional retail by integrating entertainment, culture, lifestyle, and community experiences.
Spanning 5,250 square meters, ELMNT33° combines curated dining experiences, lifestyle offerings, and flexible co-working spaces within an integrated destination.
The company said the new destination reflects its continued investment in Egypt’s evolving retail and lifestyle sector and its focus on adapting to changing customer expectations.
Khalifa Bin Braik, CEO of Majid Al Futtaim Asset Management, commented: “ELMNT33° brings this vision to life through a curated mix of local and international dining concepts, lifestyle offerings, and flexible workspaces, creating a distinctive proposition that reflects the diversity and dynamism of Egypt’s dining scene.”
In June, Egyptian master developer MIDAR and Majid Al Futtaim signed a deal to develop a mixed-use urban project in New Cairo, with an initial development value exceeding $3.1 billion.
