Dalfa Bay, a food and beverage cluster, will be launched in Ain El Mreisseh, next to the Riviera Hotel, in February 2017.
The cluster, as well as the land, is owned by the Dalfa Group.
The project will be built on a 4,000 square meter (m2) plot, with a total built-up area of 8,000 m2.
Comprising around ten restaurants and a gym, investment in the cluster will be $15 million, excluding the cost of the land.
Marwan Dalloul, Vice Chairman of the Group, said: “We are negotiating contracts with several potential tenants. The restaurants expected to open are local and international franchises.”
Rent rates at Dalfa Bay start from $500 per m2 per year, going up to $1,000 per m2.
Reported by Rania Ghanem