O West, an Orascom Development city in the 6th of October area, will participate in Cityscape 2021, the largest international real estate exhibition and forum in Egypt and the Middle East, scheduled for 22-25 September.
During its participation, O West’s fully finished residential units will be presented. They come in a prime location overlooking the O West Sports and Social Club in the heart of the city.
The participation of O West in the exhibition stems from the belief and keenness of Orascom Development to support and enrich the Egyptian real estate sector, which is one of the most vital sectors in the national economy. Furthermore, the exhibition represents a good opportunity for investors from different countries to meet and interact, which reflects the strength and stability of the national economy, in light of the real estate boom that Egypt is currently witnessing. This would reinforce the marketing and export opportunities for Egyptian real estate to attract more local and international investments.
Tarek Kamel, CEO of O West, said that the participation of Orascom Development in general and O West in particular comes within the framework of the positive participation in real estate activities that support economic development, as well as the exchange of experiences to transform challenges into opportunities by the public and private sectors. This contributes to enriching the sector with many new innovations and ideas that make the Egyptian real estate sector unique in terms of components and determinants.
“During our participation in the exhibition, we launched a group of distinguished housing units overlooking the O West Sports and Social Club, which amounted to 700 housing units, fully finished and delivered within four years. The units offer a view of the club, as well as a walkway to ride bikes and jog, in addition to green areas to give the units an enchanting beauty with a breathtaking view,” he added.
He pointed out that O West was designed and planned to achieve Orascom Development’s strategy in construction, which is based on establishing integrated cities that provide all life requirements in the technical, cultural, sports, tourism, education and health aspects. Cities get evaluated all over the world based on their performance in improving welfare and ability to attract individuals and institutions.
Noteworthy, O West contributed more than 34% of the total real estate sales of the company, worth EGP 4bn during the first half of this year. The net real estate sales of the administrative and residential units in O West city amounted to EGP 1.38bn, compared to EGP 1bn last year, with a growth rate of 37.8%.
The company has recently laid the cornerstone of the O West Sports and Social Club – one of the largest clubs west of Cairo – in the presence of Ashraf Sobhy, Minister of Youth and Sports. The club is located on an area of 38 feddan, with investment worth EGP 800m.