Ora Developers CEO Naguib Sawiris has unveiled the company’s plans to launch the second phase of its first home project in east Cairo, dubbed “ZED East,” next November, Invest-Gate reports.
The Egypt-based company is also intending to generate EGP 1.7 bn in sales of the project’s phase I, Sawiris confirmed during a press conference on September 22, noting that ZED East is being developed over 360 acres in New Cairo, 176 of which are dedicated for greeneries.
The compound provides a variety of residential units, including villas, twin houses, townhouses, and apartments, which were designed by one of the world’s leading integrated design firms, WATG. This comes in addition to an administrative complex, medical clinics, and a 45-acre sports club, the Egyptian tycoon further stated.
On the sidelines, Sawiris also revealed plans for Ora Developers’ first multi-tower development, ZED, located in 6th of October City’s Sheikh Zayed, west Cairo. He announced a partnership with Amr Mansi’s “I-Events” to organize and prepare a schedule for the various family activities and events that will take place in “ZED Park” during the coming period.
Moreover, Ora Developers has awarded EGP 5 bn worth of contracts for the construction of the first phase of its west Cairo project, which is coming with investments amounted at EGP 40 bn. Orascom Construction, Alrowad Group, and Redcon Construction were among the contracting companies, according to the CEO.
Extending over 165 acres, ZED will feature a total of 5,000 fully-finished apartments, ranging between 60 and 240 square meters, with modules varying from serviced apartments to two-, three-, and four-bedroom apartments. The first phase awarded to Orascom Construction involves the building of around 600 houses, a three-storey garage, a two-level mall and four 17-storey apartment towers, as highlighted in a May press release.