Ora Developers obtained a 400-feddan land plot in New Cairo to launch its latest mixed-use development project with expected sales of EGP 100bn.
The new project comprises integrated residential, commercial, and administrative units, providing all essential needs in one place, in addition to a sports club and vast green areas.
The project will offer villas, apartments, duplexes, and penthouses.
CEO and Chairperson of Ora Developers Naguib Sawiris said: “Following the success of ZED El Sheikh Zayed, we’re striving to introduce a new project in East New Cairo that would combine affordable beauty, luxury, and practicality all in one development. We are all about embracing innovation and seeking new developments, and we have a proven record of creating beautiful environments that balance exceptional thinking with enduringly sensitive design. We think that this new acquisition was the right move and we’re very excited to be launching our first project in New Cairo.”
He added that the 400-feddan project does not only interweave mixed-use facilities into its masterplan, but will also incorporate a world class 50-feddan club that will include 5 and 11 a-side football pitches, swimming pools, squash, tennis and paddle courts in addition to an indoor multipurpose court. Besides the sports facilities, the club will also offer wide green spaces for the community to enjoy as well as a kids area, a club house and a range of restaurants and cafes.
CEO of Ora Developers Egypt Haitham Abdel Azim said that the idea of launching the project was to provide a safe, self-sustainable community that accommodates all basics of living, all ages, and all tastes, to become the landmark to those in surrounding areas.
Through this project, Ora would work on blending low and high density zones with a contemporary feel, giving a sense of comfort to live differently and walk safely in a multi-use destination that combines all necessary components, made for residents and visitors, Abdel Azim added.
He noted that the project would be implemented with a minimum partnership system with New Urban Communities Authority. Project land has been acquired and its designs are being prepared.
He pointed out that the first phase of the company’s new project in New Cairo would be launched in the second quarter (2Q) of this year, with targeted sales of EGP 6bn.
He further explained that the first phase would include 1,000 units with various spaces and includes villas and apartments. Moreover, the company expects a rapid marketing of these units due to the distinguished location of the project.
Ora Developers operates in several markets: Britain, Cyprus, Grenada, Pakistan, and Egypt. It invests more than $2bn outside Egypt.