MARAKEZ, Egypt’s largest commercial mixed-use developer, Announces the Latest District Five Updates in a Press Conference
District Five Residences and Mindhaus reached outstanding sales of EGP 6.7 Bn to date
By Eman Hamed
MARAKEZ, Egypt’s largest commercial mixed-use developer, announced its latest developments in East Cairo during a press conference at District Five. The 268-acre walkable destination sets the benchmark for mixed-use developments in Egypt, representing a stepping stone towards pioneering innovative developments. District Five is MARAKEZ’s signature project in East Cairo with over EGP 15 Bn in investments. It brings together +1,800 exclusive residential units at District Five Residences, a myriad of flexible office spaces at Mindhaus, and East Cairo’s upcoming commercial hub – D5M, opening this year, all within a walkable safe environment.
District Five construction reached 66% completion to date, with no delays despite the challenges caused by the global pandemic. MARAKEZ started the delivery of District Five Residences end of 2021 and began operations at Mindhaus early 2022. Mindhaus comprises a wide range of sellable and leasable office spaces of, covering some 240,000 sqm of built-up space, to meet the changing business needs of fast-growing companies. Mindhaus’ community continues to grow and will include various renowned companies such as AZADEA Group, TAM Gallery, Redbull, Adidas, Breadfast, Wheelhouse Café, The Design Avenue, Sigma Contractors, Blue Ribbon, Reference for Architecture, LA7 and Stamina.
D5M, the first retail destination in New Katameya covering 100,000 sqm of built-up space and offering a diverse set of F&B, shopping and entertainment facilities, is 90% complete and will open with renowned brands including Seoudi, Eatery, Zara and Galaxy Cinema among others.
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 ahead of schedule.
“MARAKEZ continually seeks opportunities that serve the different needs of its communities. District Five is a walkable development that is based on innovation, ingenuity and convenience. District Five’s community is getting bigger by the day, between residents, visitors and people who have moved their offices here” said Eng. Yasmine Abou Samra, Chief Development Officer. “
District Five brings together five key elements required to create a vibrant and thriving community: Live, Play, Grow, Shop & Work. Employing innovative land utilization techniques, MARAKEZ has maximized community amenities that cater to all audiences including families, guests, and businesses. With significant investment in infrastructure to create closer links with Road 90 and the rest of New Cairo, District Five provides easy access to the New Administrative Capital (NAC), Maadi, Madinat Nasr, Sokhna, and the Red Sea.
MARAKEZ is implementing an EGP 24 Bn strategic investment plan in Egypt focusing on key projects in Cairo and other governorates and looking forward to establishing partnerships targeting renewable energy for its projects. MARAKEZ opened Mall of Tanta in 2019, the largest mall in the Delta region and El Gharbeya governorate’s first internationally modeled mall, as well as Town Center in 2020, and plans to open Mall of Mansoura in 2023.