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UAE leading developer Al-Futtaim Group will receive a government licence to start the second phase of Cairo Festival City project in two weeks, said managing director Mohamed Al Mikawi.
According to Mikawi, the investment cost for the second phase is EGP 3 billion.
The group’s investments into the Cairo Festival City project are valued at EGP 19 billion.
Speaking to Amwal Al Ghad on Tuesday, Mikawi said the second phase comprises of 240 villas and 300 apartments alongside additional administrative space to meet the increasing demand for Cairo Festival City.
