The Cairo International Airport Company will sign a final contract with Maxim Real Estate Investments on Thursday for the establishment of an entertainment and shopping zone on 187,000 square meters.
The project will be based on a 40-year usufruct, according to company chief Ahmed Geneina.
He said Maxim will deliver LE45 million as a down payment for the LE9 billion usufruct on Thursday. It had already paid LE3.5 million in insurance pay for the tender announced by the airport company months earlier.
The project will host an entertainment area, a shopping mall and some tourist activities, according to Geneina.
He explained that the project will bring the airport company LE60 million in revenues in the first year.
Edited translation from Al-Masry al-Youm
