Uptown 6 October partners with UK group to develop EGP 6bn outlet mall

Uptown 6 October for Development and Investment has signed a strategic memorandum of understanding (MoU) with UK-based Fashion House Group (FHG) to develop and operate Fashion House International Outlet Egypt at Grand Uptown Mall (GUM) in New October City, with planned investments exceeding EGP 6bn.

The project is expected to introduce North Africa’s first integrated outlet destination, combining retail, hospitality, entertainment and business facilities, according to the company during a press conference.

Under the agreement, Fashion House Group will contribute its expertise in outlet centre development and operations, including leasing strategies, attracting international brands, tenant mix management, marketing and operations.

Grand Uptown Mall is planned to have approximately 90,000 sqm of leasable space, according to its preliminary master plan, with Emtelak Real Estate Investment Fund participating as a strategic investment partner. The first phase is scheduled to open in October 2028, subject to the completion of designs, technical studies and construction, as well as obtaining the necessary regulatory approvals.

The development will include Fashion House International Outlet, featuring international brands, GUM Luxury House and The Fashion House Street, alongside a boutique hotel, cinema and entertainment facilities, restaurants, cafés and a business club.

The project will also feature an Egypt Crafts Gallery showcasing handicrafts and products from different governorates, as well as an e-commerce platform offering delivery and Click & Collect services. The platform is expected to serve customers across Egypt, with potential expansion into regional and African markets.

Ahmed Abouzaid, Chairperson of Uptown 6 October Group, said the partnership with Fashion House Group would bring international expertise in outlet centre development and operations to the Egyptian market.

Brendon O’Reilly, Managing Director of Fashion House Group and Fashion House Outlet Centres, said Egypt offered significant opportunities for the outlet retail concept, adding that the group would draw on its experience and relationships with international brands.

Fashion House Group has more than 25 years of experience in outlet centre development and operations, with projects in Romania, Poland and Russia and partnerships with more than 250 international brands.

The event also witnessed the signing of four other agreements covering education, real estate investment and technology.

Uptown 6 October Education signed an agreement with GSM Holding to establish GSM Egypt, a company focused on developing, managing and operating schools, universities and other educational institutions. The event also saw the extension of the British International School agreement from 15 to 25 years.

In the investment sector, Uptown 6 October announced an agreement with Alpha Financial Investment Management to manage the Emtelak Real Estate Investment Fund and prepare for the launch of its initial subscription prospectus under the name “Emtelak Tharwa”.

The agreement was signed by Ahmed Darwish, Chairperson of Alpha Financial Investment Management, and forms part of Emtelak’s plans to develop digitally supported real estate investment solutions.

Uptown 6 October also signed an agreement with international company ROX to establish RAQAM Real World Assets, which will focus on blockchain-based solutions for real estate asset tokenisation and digital registration, subject to applicable legal and regulatory requirements. The agreement was signed by Sarmad Daneshmand, CEO of ROX Custody.

Abouzaid said the agreements reflect the group’s plans to expand partnerships across real estate development, retail, education, investment and technology, while diversifying its business activities.