Malak Al-Ashry: Foreign brands have expressed their desire to rent commercial spaces within the Walk of the People of Egypt
Malak Al-Ashry, a member of the board of directors of “Consul Masters Consulting”, which is responsible for managing and operating the Walk of the People of Egypt, said that the company is about to complete the final preparations for the “People of Egypt Walk” project, in preparation for the initial opening of the project at the end of next December, coinciding with the celebration of the New Year. Christmas, noting that the company aims to officially open the first phase of the “People of Egypt Walk” during the second quarter of 2022, a week before the start of the next Ramadan.
In a press statement, Al-Ashry added that the company began contracting with brands to rent kiosks within the “People of Egypt Walk” project, starting in mid-September.
She added that the rental value of commercial kiosks in the walkway ranges from 40 to 60 thousand pounds per month, depending on the area of the kiosk, noting that some foreign brands, including “American, Libyan and Mexican”, expressed their desire to rent kiosks inside the project.
Malak Al-Ashry revealed that the National Bank of Egypt obtained the advertising space allocated along the walkway, to announce the most important national, sports, and international events throughout the year, under the auspices of the bank, noting that the company is preparing during the current period to address real estate, telecommunications and automobile companies known in the Egyptian market; to participate in the project.
Malak Al-Ashry continued: “The length of the first phase, including the People of Egypt Walk project, is about 1.8 km, which is the area overlooking the hotels area, which is located between Imbaba Bridge and May 15 Bridge. The project contains an upper walkway with a width of 4.5 meters, and a lower one with a width of 6.5 meters. And a total area of 7,066 square meters, containing 90 shops, restaurants and cafeterias, an open theater with an area of 434 square metres, with 3 stands with a total length of 315 square meters and a capacity for 1,240 visitors. It also includes 300 booths for foreign and Arab service and commercial activities, and 3 toilets.
Malak Al-Ashry explained that City Edge Real Estate Development, representative of the Urban Communities Authority that owns the “People of Egypt Walk” project, has contracted with “Consul Masters” company to manage and operate the first phase of the project, which is a new park that adds a special beauty to the Nile. The term of the contract is about 9 years, subject to renewal with the consent of both parties, as stipulated by law.
The contract between the two companies also includes the provision of commercial, tourism, entertainment and service activities such as restaurants, cafeterias, shops, recreational areas, garages and seating areas for receiving visitors to the walkway, in addition to many other activities such as entertainment theatre, car parking areas, a river marina and an open service area.
Consul Masters has extensive experience as one of the major companies working in the field of consulting and services for commercial agencies, management of hotel, tourism and commercial projects, marketing of commercial franchises and marketing investment opportunities in commercial projects in Egypt and abroad by preparing expansion plans for these brands through granting commercial franchises or opening New branches or agencies give to these brand owners.
The company also has a precedent that allows it to prepare plans for establishment, operation, ownership and leasing of tourist facilities, commercial centers and malls with the best innovative systems and global technology in terms of operation and maximizing profitability, in addition to holding and organizing exhibitions, economic conferences and events.
The company owns the exclusive marketing right for more than 65 local brands and more than 80 international brands, and has branches and representative offices in several Arab countries.