LMD welcomes Libyan Prime Minister Abdul Hamid Dbeibeh, accompanied by a delegation of Libyan ministers, to visit its “ONE-NINETY” project developed by the Egyptian LMD and Lakeside Tourism and Real Estate Investments, a subsidiary of Libyan Foreign Investments Company (LAFICO), Invest-Gate reports.
During the visit, Dbeibeh inspects the implementation process across the different phases of the project, stressing his happiness with the great achievement that the project has reached. “The ONE-NINETY project is a constructive and important step to support the cooperation between Egypt and Libya, which will have a significant positive impact on enhancing investments and supporting the Libyan and Egyptian economies,” he comments.
ONE-NINETY project spans over 344k sqm, with EGP 32.4 bn of investments, and a built-up area of 550 thousand sqm; in addition, SOM company carries out the exquisite designs for the project, while Hill International manages the entire project.
Moreover, the project is divided into four integrated areas. The first area includes residential units, which contain many entertainment areas and high-end hotels. It’s the first project in Egypt to obtain a right of use for an international brand such as W Residences Cairo (which will be delivered in Q4 2024) and St. Regis New Cairo Residences, in addition to international hotels such as W Cairo Hotel and Aloft Hotels.
These brands belong to Marriott International, which will manage them fully, offering all amenities and luxury for residents. In addition to swimming pools, health club, gym, business center. The area also includes the “Retail Pavilion” and “Avenue 190”, which include retail stores of international luxury brands and various luxury restaurants.
The second area is the Business Quarter that comprises four connected stages (Quarters A, B, C & D) and provides various administrative spaces, all overlooking the green spaces.
Furthermore, it has a range of ingredients and services at the highest level, including the infrastructure, the integrated smart technology, and the division of spaces that takes into account the guarantee of natural lighting, the quality of the internal environment of the administrative offices, ease of movement and communication, and the fire and theft insurance systems.
Additionally, the area encompasses international companies, including Aston Martin, EG Bank, and AAIB Bank. Besides, a partnership with one of the largest oil and natural gas companies that LMD will disclose soon. In addition, the delivery of the A&D phases will begin in 2022 and the B&C phases in 2023.
As for the third and fourth areas of the project, it includes the “Urban Park” area of green and open spaces spanning over 32k sqm, while the fourth area contains an open shopping area similar to Oxford Street in England and the Champs-Elysées Street in France, entitled “Avenue 190” to feature a group of international brands gathers in The world of art and fashion.
