Essam Nassef, Chairman and Managing Director of El Mostakbal for Urban Development, owner, and master developer of Mostakbal City in New Cairo, announced the launch of ‘The Boulevard’ one of the largest service projects in the heart of the city.
He explained that this project will be a model similar to the Champs Elysees Avenue in Paris. It includes mixed-use activities, residential, commercial, and administrative district, extending over an area of approximately 60 feddan and a length of one kilometer.
El Mostakbal for Urban Development has already completed the initial designs for the project, and it will undertake the project’s development according to the specifications required by the most famous international brands. The company has allocated EGP 450m to start implementing the development plan for this important project.
He added that a contract was signed at the beginning of this year with Coldwell Banker Commercial – Advantage (CBCA) a subsidiary of Coldwell Banker to promote investment opportunities in this project.
This project will also include world-class restaurants, coffee shops, stores for the largest brands, cultural and entertainment facilities such as cinemas and theatres.
Nevertheless, The Boulevard will implement a ‘Fashion Week’, which will be an event consisting of a series of fashion festivals similar to international fashion festivals. The project will also feature administrative offices and a boutique hotel, as well as a designated Banking Complex.
Mostakbal City is considered the first smart green city with a new concept of modern living, it has an estimated total area of 11,000 feddan in New Cairo. Several major real estate developers are developing currently residential and educational projects as well as fuel stations in the first and third phases and part of the fourth phase. The city’s first district in the first phase will be operational at the end of this year.