Up to 78% of 1st phase shops of Mamsha Ahl Misr have been leased, Counsel Masters

Contracts have been concluded with brands coming from Italy, Mexico, Lebanon and UAE for the first time

The remaining spaces of shops not yet leased range from 12 to 300m

George Metri, Chairperson at Counsel Masters in charge of operating Mamsha Ahl Misr ( the walk of the People of Egypt) on the banks of the Nile River, said that up to 78% of overall shops at Mamsha Ahl Misr promenade have been leased.

City Edge Development, appointed by the New Urban Communities Authority to promote commercial units at Mamsha Ahl Misr, had awarded Counsel Masters the promenade's managerial duties upon winning the public tender launched by City Edge Developments following a fierce competition with four entities.

In statements delivered exclusively to Osoul Masr on the sidelines of the ceremony marking the launch of 1st phase of Mamsha Ahl Misr, Metri said the company takes charge of managerial tasks, leasing units, performing maintenance, operation works, as well as the provision of security and cleanliness services.

Units spaces of Mamsha Ahl Misr’s start off at 12 to 1000 m

Spaces of the commercial units at Mamsha Ahl Misr, he added, range from 12 to 1000m and the remaining spaces which have not yet been leased range from 12 to 300m.

Several renowned commercial brands coming from Italy, Mexico and Lebanon are set to enter Egypt for the first time, he explained.

"NUCA has given full opportunity to our company to run the project in a manner that best ensures the scoring of highest returns on investment in keeping with the project's goals, as it is made to serve all Egyptians.”

The ceremony marking the launch of 1st phase of Mamsha Ahl Misr was attended by Minister of Housing and Utilities and a number of ministers and businessmen.The ceremony was organized by City Edge Developments which takes charge of promoting the EGP580mln project.

The first phase comprises 90 shops, restaurants and cafeterias

The first phase of Mamsha Ahl Misr extends along 1.8 km and overlooks hotels situated between Imbaba Bridge and 15 May Bridge and includes two upper and lower walkaways, with widths of 4.5m and 6.5m respectively, as the project's space totals 7.066 sqm inclusive of an open theatre with 434 sqm space and 3 levels totaling 315 sqm with a capacity to accomodate 1.240 visitors. The project also includes 300 kiosks serving myriad foreign and Arabic services andactivities, together with 3 bathrooms.