Talaat Moustafa Group (TMG) has launched the “East Hub” project – the latest integrated commercial centre in Madinaty – for leasing to major companies and operators of various brands.
This comes within the framework of the group’s keenness to provide integrated services to the population within its projects and in light of the high demand from major brands to open branches in commercial centres in Madinaty to achieve the highest sales volume compared to its other branches in Egypt and to complement the great success achieved in Open Air Madinaty Mall.
The offering came at an Iftar party organized by the Talaat Moustafa Group, on Thursday, April 13, at the “East Hub” project in Madinaty, with the participation of a number of group leaders, tenants and international brand managers for the various commercial activities located in the commercial centres of Madinaty and Al Rehab.
The ceremony began with a short video showing the journey of TMG over the course of 50 years in the development of major integrated residential projects in eastern Cairo, starting with Al Rehab City in 1996, and ten years later the Madinaty project on a larger area and with integrated services, and finally the launch of Noor City in front of the New Administrative Capital, which It is the first sustainable smart city in Egypt, in addition to establishing a major hotel chain in Sharm El-Sheikh, Cairo, and Alexandria.
Omar Hisham Talaat, Chief Business Development Officer at Talaat Moustafa Group, reviewed the group’s vision for developing housing projects in East Cairo. He indicated that the vision’s success is evidenced by increasing the population of the region from 400,000 people in 1996 at the time of the establishment of Al-Rehab City to 3.5 million people at present, with expectations of a growth of 10 million people by 2030.
He pointed out that TMG is keen to conduct real market studies, to provide integrated services that meet the needs of the residents of Madinaty, Al-Rehab and the entire East Cairo region.
As a result of these studies, the Open Air Mall was established, and it is one of the largest commercial centres in Egypt and the Middle East, receiving thousands of visitors daily and featuring the largest brands in the world for various activities.
After that, “Craft Zone” was established to provide craft services and various commercial activities needed by the residents, and the group completed the establishment of “East Hub”, which includes various commercial spaces, as well as centres for medical clinics and administrative offices.
He added that the Talaat Moustafa Group was able, during the previous years, to implement about 400,000 square meters of leasable area, and aspires to reach 1.2 million square meters during the next 10 years.
Omar Hisham Talaat revealed the great demand for investment in “East Hub”, pointing to the fact that major brands reserved these leasable areas before offering the project for lease, in order to increase their sales.
The brands include Oriental Weavers, Adidas, Thai House, Abdul Aziz Stores, Flamingo, Etisalat, DHL, Sultan Saray, Beit Ward, Casaletti Furniture, Brisk by Sonic, and other brands that accounted for about a third of the rental space during the pre-leasing stage.
It is expected that “East Hub” will achieve great demand in light of its privileged location within Madinaty, its proximity to Mostakbal City and the New Administrative Capital, in addition to the existence of large and promising opportunities to invest in it at good prices because the project is still in the leasing phase.
While officials of the commercial sector at Talaat Moustafa Group presented the components of the “East Hub” project, which has a leasing area of more than 100,000 square meters. The new commercial centre includes 8 buildings, with 5 connected buildings and 3 separate buildings.
There are approximately 670 commercial units for various activities, including 200 offices and clinics, bank branches and restaurants, and an underground garage with a capacity of about 1,200 cars, in addition to parking spaces in front of the mall buildings, all in addition to the “Craft Zone”, which includes 650 commercial units.