Marakez, a subsidiary of Saudi conglomerate Fawaz AlHokair Group and largest mall developer and operator in the region, said it has begun delivery of the first residential units in District 5 and the first administrative units of Mindhaus Campus in New Cairo ahead of schedule.

 

District 5 is Marakez’s latest development in Egypt and its signature project in East Cairo comprising District Five Residences, Mindhaus and D5M, residential, administrative and commercial respectively. 

 

A total of 100 residential units in District 5 Residences are being delivered with no delays despite the global pandemic. While almost half of District Five Residences is completed, neighborhoods B and C are being delivered.

 

On another note, Mindhaus Campus community continues to grow as more businesses move in. In addition to TAM Gallery, Mindhaus’ first tenant to operate, the list includes Azadea, Red Bull, Eklego, Breadfast, Wheelhouse Café, The Design Avenue, Sigma Contractors, Reference for Architecture and Blue Ribbon.

 

"From office space to retail space, from high-rise living to quaint courtyard homes, Marakez continues its stellar track record of delivering projects on time or early," said its CEO Basil Ramzy.

 

“District 5 is just an example of our award-winning approach to mixed-use development that is based on innovation and ingenuity. We welcome TAM.Gallery to Mindhaus and look forward to joining D5 community by having Marakez head office at Mindhaus in the first half of 2022.”

 

An ambitious mixed-use development, District 5 has started reshaping East Cairo by bringing together the five key elements required to create a vibrant and thriving community: live, play, grow, shop and work living. 

 

District 5’s an incentive for potential investors to locate here where quality services, accommodation and a ‘pro-business’ environment are available. The new community of leasable and sellable office spaces has been specifically designed to meet the evolving business needs of today’s fast-paced companies, he stated.

 

The first tenant to open at Mindhaus is TAM.Gallery who are launching their showroom and will embark on holding regular art exhibitions as well as art fairs.

 

"District 5’s strategic location was a great choice for TAM.Gallery. Our 1,000 sqm space is now minutes away from Maadi, Road 90, Heliopolis and even Sokhna," remarked Ramzy.

 

"Being the largest multi-platform art organization comprised of both online and offline galleries, with over 9,000 art pieces and a continuously expanding portfolio of over 500 contemporary Egyptian artists, we’re happy to have partnered up with a respectable innovative developer like Marakez and are thrilled that our inaugural show is the Cairo Art Fair, which is the largest exhibition of contemporary Egyptian art in the region," he stated. 

 

In its 7th edition, Cairo Art Fair introduces many new artists alongside our roster of artists! Both prominent and emerging artists will be showcasing their work in a synergised setting; breaking the boundaries of format, participation, and presenting an honest reflection of today’s Egyptian art scene, he added.

 

Marakez said it is implementing a strategic investment plan in Egypt of more than EGP 21 billion focusing on key projects in Cairo and other governorates.

 

It had opened Mall of Tanta in 2019, the largest mall in the Delta region and the El Gharbeya governorate’s first internationally modeled mall, as well as Town Center El Salam in 2020, and plans to open Mall of Mansoura in 2023.-TradeArabia News Service