Egypt's aviation authorities are planning a LE80 billion airport city around Cairo International Airport that would serve as an investment zone, with LE422 billion in proceeds expected until 2040 according to feasibility studies.
In a press conference on Thursday, Mahmoud Essmat, CEO of the Egyptian Holding Company for Airports and Air Navigation, said the project which will be completed by 2020, will contain tourist, commercial and entertainment services. He called upon all Egyptians to contribute to the project as a national undertaking.
The investment zone, according to Essmat, is divided into two sections. First, the Aerocity on 2.8 million square meters will include a mall, a conference center, restaurants, resorts, aquaparks, an open theater and a parking lot. The second section, Airport City, on 7.2 million square meters, includes cargo services, a free trade zone and other services.
Edited translation from Al-Masry Al-Youm