Egypt private-sector-empowering measures boosted mall industry

Fouda made his statement in an answer to AO's question on how the actions Egypt has taken to support the private sector have contributed to attaining its targets and helping the experience of the Cairo Festival City Mall (CFC) to grow in revenues and sales.

This came during a roundtable Fouda held with a group of Egyptian journalists on Wednesday at the CFC headquarters in Cairo.

Fouda told AO that the CFC mall sales increased by 32 percent in 2023 despite the economic challenges in the local market, especially the high inflation and the US dollar severe shortage.

He noted that they target a 12 percent growth annually.