Emaar Properties has launched Emaar Square, part of its $2.1bn Uptown Cairo project in Cairo, Egypt.
The 250,000m² scheme is being developed by Emaar Properties’ Egyptian subsidiary, Emaar Misr.
Emaar Square will feature an open mall with a retail investment value of $500m, the 250-room Address Hotel and serviced residences.
The open mall in Emaar Square will feature The Main Boulevard, The Fashion Walk and Entertainment Avenue, offering retail and leisure destinations.
Plans also include the construction of 1,200 new homes on the outskirts of the square and a new business park within it.
Emaar Square will spread over 4.5 million m² and include other amenities like sports and leisure facilities, a golf course and a variety of residential villages.
In 2008, Emaar revealed its plans to construct one of its Address hotels in uptown Cairo and scheduled it for completion in 2011.
The company’s plans were delayed due to the property crash and disturbances in the region following the Arab Spring.
Emaar Properties managing director Ahmad Al Matrooshi said that the company is developing three master planned communities in Egypt.
"We are also focused on diversifying our revenue streams through our international operations, as well as our shopping malls and retail, and hospitality and leisure businesses," Al Matrooshi said.
In September 2012, Emaar unveiled plans to construct The Address The BLVD, a new 340m, 63-storey hotel in Dubai, UAE, near Burj Khalifa, the world’s tallest building.
Image: The development will feature homes, offices, and leisure facilities. Photo: Emaar Properties.