The New Urban Communities Authority (NUCA) tasked the Saudi Egyptian Developers (SED) with marketing, selling, and customer service for the first phase of the Arabesque project, citing the developer’s 50 years of experience with real estate projects across Egypt, Invest-Gate reports.
SED CEO Mohamed El-Taher expressed appreciation for the trust shown by NUCA, noting the companies have a history of joint successes through their cooperation in marketing and implementing various projects.
“The first phase of the project, ‘Arabesque’, is the first integrated urban community in Magra El-Oyoun in the heart of Old Cairo,” El-Taher said. “The project houses Islamic archaeological buildings, including the Magra El-Oyoun Fence, and historic buildings that date back to the Tulunid and Fatimid dynasties.”
The neighborhood has seen unprecedented development, making Arabesque an attractive investment for those seeking residential or commercial units nearby, he said.
Situated near the National Museum of Egyptian Civilization, the project overlooks Fustat Park and has views of the Citadel and Muhammad Ali Mosque. It is well-linked to various areas via roads and bridges.
Phase one will include around 79 buildings with 1,924 homes in various sizes plus 18 commercial units, according to El-Taher. Amenities such as restaurants, cafes, cinemas, theatres, and malls will meet buyers’ needs. The residential and commercial spaces in this phase are ready for handover starting September, El-Taher said.
