Cairo – Mubasher: The European Bank for Reconstruction and Development (EBRD) announced offering $200 million finance to establish a new regional retail and entertainment centre in East Cairo, the Middle East News Agency (MENA) reported.
The loan will be directed to finance developing and operating City Centre Almaza, a fully-owned subsidiary of Majid Al Futtaim Holding.
Spanning over an area of 103,000 square metres, the centre is scheduled to be launched in September.
The new project will be Egypt’s second centre to be certified under the LEED green building certification scheme.
Since the beginning of its operations in Egypt in 2012, EBRD has invested about EUR 5 billion in more than 90 projects.
