Talaat Moustafa Group (TMG) has started leasing the “East Hub” project – the latest integrated commercial center in Madinaty –to various brands for providing integrated services within its projects.
The project witnesses high demand from major brands, pursuing to inaugurate branches in commercial centers in Madinaty to achieve the highest sales volume and to complement the great success achieved in Open Air Madinaty Mall.
TMG started a journey of over 50 years in the development of major integrated residential projects in eastern Cairo, starting with Al Rehab City in 1996, and ten years later the Madinaty project on a larger area and with integrated services, and finally the launch of Noor City in front of the New Administrative Capital, which It is the first sustainable smart city in Egypt, in addition to establishing a major hotel chain in Sharm El-Sheikh, Cairo, and Alexandria.
Omar Hisham Talaat, Chief Business Development Officer at Talaat Moustafa Group, reviewed the group’s vision for developing housing projects in East Cairo. He indicated that the vision’s success is evidenced by increasing the population of the region from 400,000 people in 1996 at the time of the establishment of Al-Rehab City to 3.5 million residents at present, with expectations of a growth of 10 million people by 2030.
He pointed out that TMG is keen to conduct real market studies, to provide integrated services that meet the needs of the residents of Madinaty, Al-Rehab, and the entire East Cairo region.
Accordingly, the Open Air Mall was established, and it is one of the largest commercial centers in Egypt and the Middle East, receiving thousands of visitors daily and featuring the largest brands in the world for various activities.
After that, “Craft Zone” was established to provide craft services and various commercial activities needed by the residents, and the group completed the establishment of “East Hub”, which includes various commercial spaces, as well as centers for medical clinics and administrative offices.
He added that the Talaat Moustafa Group was able, during the previous years, to implement about 400,000 square meters of leasable area, and aspires to reach 1.2 million square meters during the next 10 years.
Omar Hisham Talaat revealed the great demand for investment in “East Hub”, pointing to the fact that major brands reserved these leasable areas before offering the project for lease, to increase their sales.
The brands include Oriental Weavers, Adidas, Thai House, Abdul Aziz Stores, Flamingo, Etisalat, DHL, Sultan Saray, Beit Ward, Casaletti Furniture, Brisk by Sonic, and other brands that accounted for about a third of the rental space during the pre-leasing stage.
It is expected that “East Hub” will achieve great demand in light of its privileged location within Madinaty, its proximity to Mostakbal City and the New Administrative Capital, in addition to the existence of large and promising opportunities to invest in it at good prices because the project is still in the leasing phase.
The “East Hub” project has a leasing area of more than 100,000 square meters. The new commercial center includes 8 buildings, with 5 connected buildings and 3 separate buildings.
There are about 670 commercial units for various activities, including 200 offices and clinics, bank branches and restaurants, and an underground garage with a capacity of about 1,200 cars, in addition to parking spaces in front of the mall buildings, all in addition to the “Craft Zone”, which includes 650 commercial units.
