Cairo, Egypt, 11 June 2020 –Talaat Moustafa Group (TMG), the leading property developer in Egypt, have today signed an agreement with LC Waikiki to lease a 1,860-sqm megastore at the iconic Open Air Mall in Madinaty.
The agreement was signed at an official ceremony today between TMG and LC Waikiki at the Open Air Mall in the presence of Mr. Omar Hisham Talaat, Eng. Elhamy El Kerdany, and Mr. Ahmed Ismail.
The Open Air Mall is one of the largest in the Middle East and is the only super regional open-air shopping center in Egypt. The master plan of the mall sits on a 404,000 sqm plot in addition to a 6,000 car parking lot with a total leasable area of 92,000 sqm spread across 8 different buildings overlooking a central lusciously landscaped area surrounded by fountains and artificial lakes, where visitors have the chance to shop in an outdoor environment. Inspired by the San Francisco Tram, the Open Air Mall will feature 4 trams built on a historic undercarriage from a 1950s trolley streetcar that will travel along the different buildings.
The Open Air Mall has been operational in a “soft-launch” mode since 2019 with the opening of the first of its 8 buildings, which is anchored by Carrefour hypermarket and now also includes LC Waikiki. The mall is only a 10 to 20 minute drive from New Cairo, the New Capital and Al Rehab City. It will be home to many leading global brands across fashion, furniture, and sporting goods. In addition, it will boast a 15-screen cinema complex with the latest projection technology which is ready to launch as soon as the current situation eases, a food district to feature the best international cuisines, local chains, as well as the biggest family entertainment center in Egypt and one of the largest in the region which will offer ‘first-to-market’ game concepts available.
The Open Air Mall has a direct catchment area of approximately 3.5 million people targeting residents of Madinaty, El Shorouk, Al Rehab, New Cairo, and the New Administrative Capital, which is currently under construction.
Last but not least, LC Waikiki is a multi-cultural fashion brand, which trades in 1009 stores in 48 countries worldwide.
