Egypt-based real estate developer TAMEER plans to deliver the first phase of AZAD 1 residential project in the Fifth Settlement neighborhood, east Cairo, by the end of March, Invest-Gate reports.
With phase I boasting 60 residential units, the integrated residential compound is being built on 20 acres, with overall investments of EGP 2 bn, the company’s managing director Antoine El Khoury said on March 3.
The developer, in cooperation with local leading contracting companies, is implementing all the project’s phases in parallel, El Khoury noted.
He added that AZAD 1 comprises a community center as well as commercial and administrative complexes, in addition to swimming pools, an outdoor cinema, a kids’ area, a jogging track, a bicycle lane, and a central park.
During the same event, El Khory earlier told Zawya that the company is planning to develop new residential and commercial projects in Cairo on its own or in partnerships with other companies.
He did not reveal further details on the number of projects but said the company is negotiating with a developer, who owns about 115 acres of land near Tameer’s Azad community, for new projects.
Located at the heart of New Cairo, “AZAD 1” is a 15-minute drive away from Cairo International Airport and across the street from the American University in Cairo.