Despite continued political unrest, retail real estate development in Cairo is booming, an article in the Wall Street Journal says. Many of the retail projects are large shopping centres, the latest being Mall of Egypt. The new shopping centres are being built not only as retail centres, but as social centres as well, featuring facilities like cinemas, entertainment systems, and even artificial ski slopes.
Developers are optimistic about the success of the new shopping centres, even though vacancy rates for existing malls in Cairo averages at 25%. It is hoped that vacancy rates will improve once the country is more stable.
Read the full story at: https://online.wsj.com/articles/cairos-hottest-import-shopping-malls-1402430917
