Next Developments launches EGP 1bn District 9 Mall in Pyramids area
Spanning 70,000 square meters, District 9 is strategically situated near major tourist and transportation corridors, including Fayoum Road and the Oasis Road, ensuring seamless access for both local and international visitors.
Slated for completion by the end of 2025, District 9 marks Next Developments' first open-air mall in West Cairo. The destination will host more than 70 local and international brands, offering a dynamic mix of retail, administrative, sports, and entertainment experiences.
'This project represents a unique investment opportunity in one of Egypt's most iconic locations,' said Ahmed Nail, Chairperson of Next Developments. 'With its strategic location, modern architecture, and high-end services, District 9 is designed to elevate the visitor experience beyond that of a traditional shopping mall.'
Nail highlighted the company's vision of creating fully integrated developments, supported by global management standards, advanced security systems, and comprehensive leasing services. The mall will also offer extensive parking and a curated environment tailored to attract both residents and tourists.
District 9 reflects Next Developments' broader strategy to deliver high-quality, competitive projects across Egypt's residential, commercial, and service sectors, reinforcing its commitment to innovative urban development and economic growth.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily News Egypt
5 hours ago
- Daily News Egypt
‘Digitopia' competition aims to foster digital innovation among Egyptian youth with EGP 10m prizes
Egypt's Ministry of Communications and Information Technology has launched an annual competition called 'Digitopia' to discover and support creative ideas and projects in the information technology sector, with prizes totalling EGP 10m. The competition aims to encourage innovators from primary school students up to the age of 35 to develop technological solutions to societal challenges. The first edition of the contest will run from Aug. 1 to mid-October, with registration open until Aug. 12. The competition will cover several fields, including software solutions and artificial intelligence, cybersecurity, and gaming and digital arts. It will be organised by the ministry's Information Technology Industry Development Agency (ITIDA), the Information Technology Institute (ITI), the National Telecommunication Institute (NTI), and Egypt University of Informatics (EUI). Communications Minister Amr Talaat said the initiative is part of the ministry's efforts to support digital creativity and spread a culture of innovation among students and graduates. He said it provides a platform for innovators to develop their ideas into feasible technological solutions that contribute to building a 'digital Egypt.' 'Digital creativity represents one of the main pillars of building a knowledge-based economy,' Talaat said, affirming the ministry's commitment to fostering an environment of innovation and entrepreneurship. 'The competition targets various age groups as part of a comprehensive vision aimed at discovering innovators at an early stage… to prepare a generation capable of creativity and innovation.' The competition offers a grand prize of EGP 1m and multiple other cash and in-kind prizes with a total value of EGP 10m, in addition to specialised training opportunities with local and international technology companies. Participants are divided into four main categories: primary school students (grades 4-6), preparatory and secondary school students (grades 7-12), university students, and graduates up to the age of 35. The competition will be implemented in several successive stages, starting with registration and introductory sessions, followed by idea submission, development of ideas into technological solutions, judging, and finally the announcement of the winners. The judging panel will consist of experts and specialists in the field of digital technology and innovation.
See - Sada Elbalad
10 hours ago
- See - Sada Elbalad
39% Tariff on Swiss Imports Sends Shockwaves Through Luxury Watch Industry
Taarek Refaat Luxury watch collectors may want to think twice before stepping into a Rolex boutique this year. The Trump administration's newly announced 39% tariff on Swiss imports threatens to push U.S. retail prices for high-end timepieces sharply higher. The White House unveiled its updated tariff plans on Thursday, raising the proposed rate from the 31% announced earlier this year. The move caught the global watch community off guard, with Switzerland, home to brands like Rolex and Cartier, at the epicenter. Eugene Totonikoff, CEO of the Swiss Watch Market, told Business Insider the announcement was 'a real shock' and that 'its effects will be immediate.' Swiss President Karin Keller-Sutter expressed disappointment, saying the 39% rate far exceeded expectations. Leading brands, including Rolex, have already increased U.S. prices this year, likely in anticipation of higher duties, according to a July report from Morgan Stanley on the Swiss watch market. U.S. imports of Swiss goods have faced a baseline tariff of 10% since April, but the new 39% duty, set to take effect August 7, would dramatically raise costs for luxury watchmakers and could shrink U.S. inventories. While Switzerland can still negotiate with Washington, collectors and dealers may soon have to adjust to a new reality: higher prices or fewer available pieces. Joshua Ganjee, CEO of European Watch Company, predicts more buyers will turn to pre-owned luxury watches instead of newly imported Swiss models. 'For many American collectors, a 39% tariff makes new Swiss releases a luxury that's harder to justify,' he said. Morgan Stanley's report noted that second-hand watch dealers have already seen stronger demand this year as Swiss brands raised their U.S. prices. While pre-owned watch prices have generally fallen since mid-2022, that decline has slowed. However, demand pressure could soon reverse the trend. Although existing U.S. stock won't be hit by the new tariff, Totonikoff warned the secondary market will likely respond 'much faster' than major retailers. He expects pre-owned prices to climb by as much as 10% next month and up to 35% within six months as buyers shift toward available inventory. 'This is not just a tax,' Totonikoff said. 'It's a seismic event that will create a stark divide between the new and pre-owned watch markets.' read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
See - Sada Elbalad
10 hours ago
- See - Sada Elbalad
Which Products Could Get More Expensive under Trump's New Tariff Hikes?
Taarek Refaat The new round of tariffs, set to take effect next week, will immediately push up the cost of many imported goods from affected countries, with U.S. consumers likely to feel the impact in their wallets. While some companies have tried to absorb part of the costs, rising import duties may now force them to pass more of the burden onto customers. Here's what could get more expensive: Computers and Electronics Computers are among the most imported goods in the U.S., according to the Department of Commerce, with top suppliers including China, Mexico, Taiwan, Vietnam, and Malaysia. Chinese imports already face tariffs starting at 30%, which could rise further if no trade deal is reached by August 12. Imports from Taiwan, Vietnam, and Malaysia will see duties roughly double from current levels next week. India, while not a top-five supplier of computers, is a major source of electronics and will face tariffs of at least 25%. Prices for computers have already risen 5% year-on-year as of June, according to the Consumer Price Index. Yale University's Budget Lab estimates the new tariffs could drive electronics prices up 18.2% in the short term (2–3 years) and 7.7% in the long term (3–10 years). Clothing The U.S. heavily relies on imports for apparel, with China, Vietnam, Bangladesh, India, and Indonesia as major suppliers. Tariffs on these countries could raise clothing prices by 37.5% in the short term and 17.4% in the long term, adding pressure on households. Watches Swiss watches, worth over $4 billion in U.S. imports last year, are set to face 'reciprocal' tariffs of 39%. Leather goods, often tied to watch production, could see price hikes of 39.7% short term and 18.9% long term. Footwear China, Vietnam, and Indonesia dominate U.S. shoe imports, which will be hit with at least a 19% tariff starting next week. Leather-based products in this category could see similar price hikes to watches. Alcohol Imported wine and spirits account for around 35% of the U.S. alcohol market, according to the Wine & Spirits Wholesalers of America (WSWA). Tariffs on European Union imports — a key source of whiskey, vodka, and wine — will rise from 10% to 15%. Furniture Vietnam is the largest furniture supplier to the U.S., followed by China. The new tariffs are expected to lift import costs across this sector as well. Toys China and Vietnam lead U.S. toy exports. Industry groups warn that tariffs will increase retail prices, particularly as duties on Vietnamese goods add to existing levies on Chinese products. When Will Consumers Feel the Pinch? Many U.S. companies have stockpiled inventory in anticipation of higher import costs, delaying the immediate impact on retail prices. Goldman Sachs analysts estimate it could take roughly eight months for the full effect of tariffs to filter through to consumer prices. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
