O West, a fully integrated town by Orascom Development, located in the heart of 6th of October, launches the first phase of its HillSide Villas, with its unique and magical view, following the increasing demand for the O West project, Invest-Gate reports.
The “uncommon” HillSide Villas are located in Qemet, one of O West’s neighborhoods, which includes a wide range of units such as Prime, Horizon, Grand Villas, single storey villas, and mansions. Living in one of the Hillside Villas allows its residents to enjoy a comforting and luxurious lifestyle along with many picturesque landscapes, on top of which are the waterfronts, several parks suitable for jogging, as well as vast open green spaces.
During a press conference held by Orascom Development at O West, the real estate developer states that its sales increased by 13.8% in the first quarter of 2021, in comparison to the same period last year. The press conference’s speakers included Chairman of Orascom Development Holding Samih Sawiris, Group CEO of Orascom Development Holding Omar El Hamamsy, and CEO of O West Tarek Kamel, among a number of local and regional media outlets.
Chairman of Orascom Development Holding Samih Sawiris says, “The real estate sector is one of the most important sectors that withstood the Coronavirus pandemic and contributed to the growth of the Egyptian economy. All with the help of the pivotal role of the Egyptian government during the crisis, by injecting large funds into various sectors, especially the infrastructure sector. This protected the economy from a recession that would have led to a crisis, in which it becomes impossible for individuals to buy real estate properties or any other commodities. Adding to that, real estate is still considered as a safe haven for investment.”
He also states,” What distinguishes Orascom Development is that we build integrated towns in different parts of the world. El Gouna and all our projects across seven countries add to our portfolio as integrated destinations builders and real estate developers! We are confident that O West is the result of our expertise and visions, as it is a new town with an experience of more than 30 years. This town will further cement our leading position on local and international levels; and will add a new cornerstone to the company’s continuous successes around the world.”
Group CEO of Orascom Development Holding Omar El Hamamsy says, “The construction and infrastructure within O West are being done at an impressive rate, following the best international standards; as the company is currently applying an expansion plan to increase its sales, and to continue the positive results during 2021.”
El Hamamsy also adds, “The O West masterplan is designed to reflect Orascom Development’s philosophy, which is based on building integrated towns, and offering all sorts of arts and culture, sports, tourism, education and health services and amenities, like those from around the globe that are evaluated based on their contribution in enhancing its facilities, and attracting individuals and entities.”
He emphasizes on the company’s policies by saying, “We have a construction policy that is built on the quality of services offered to our customers in Egypt, as it is the case for all countries, in which Orascom Development operates. We also have a positive and optimistic plan for the current financial year, focusing on the increase of sales in O West. We already started collecting the fruits of our labor during the first quarter of 2021 and we are working on applying the same model implemented in El Gouna and carry out our expertise to O West, offering a unique model of integrated towns in West Cairo.”
CEO of O West Tarek Kamel states, “We are proud to launch the first phase of the HillSide Villas, in Qemet neighborhood at O West, which offers a unique and diverse collection of villas, such as Prime, Horizon, Grand Villas, single-storey villas and mansions. We made sure that the design of these units ideally suits all members of a family, while ensuring the uniqueness of every unit. One of the most important features of Hillside Villas is the exceptional waterfront, with its magical view, ideal location and green spaces.”
Kamel also says, “O West is located in the heart of 6th of October, three minutes away from Mall of Egypt, and seven minutes away from Juhayna Square and Arkan Plaza. We are very keen on keeping construction rate faster than usual. We built 406 villas already; and as of June, we will start the constructions of 185 recently sold apartments. Adding to the work that has already started in the five international schools, during the first quarter of 2021; these schools are expected to operate in the academic year starting September 2022.”
He further adds, “Currently we are in the final stages of developing the masterplan of O West Club, which will be a major contribution to the town, which is to be the biggest social and sports club in West Cairo, covering 5% of the entire town. The club offers all its members a wide range of premium services. Additionally, we will have a business district and a hotel area; thus implementing our unique philosophy of integrated towns, in West Cairo, and leaving an exceptional mark in the Egyptian real estate sector.”
“Additionally, we have negotiated with a number of reputable health institutions and hospitals, as we are working on transforming O West to a sports, arts and health hub to attract companies and the business sector. O West has all the infrastructural capabilities, wide areas and exceptional location to become West Cairo’s most important integrated town,” he continues.
O West is built on its immense surface, which covers 1000 acres and an exceptional urban design, perfectly balancing between green areas and buildings, adding to the “unique” architectural design of each neighborhood. This is reflected in the increasing demand of units in the “Qemet” town, a real estate project with a total inventory of EGP 7.5 bn launched back in February 2021. The company is also intending to increase more units in Qemet during the second half of 2021, to meet the high demand.
It is worth mentioning that Orascom Development Holding (ODH) is a leading developer of fully integrated destinations, including hotels, residential units and leisure facilities such as golf courses, marinas and supporting infrastructure. ODH offers a diverse portfolio of worldwide destinations covering Egypt, the United Arab Emirates (UAE), Oman, Morocco, Montenegro, Switzerland and the United Kingdom. The group operates a total of 33 hotels with 7,178 rooms and controls approximately 101mn sqm of land. The company has also achieved exceptional financial results during the first quarter of 2021, as its revenues reached EGP 1.46 bn, with a 61.5% compared to EGP 903.8 mn during the same period in 2020, despite the headwinds from the prevailing Covid-19 affecting the company’s hospitality segment. Additionally, the company’s net profit increased by 377.1% reaching EGP 438.5 mn, compared to EGP 91.9 mn in the first quarter of 2020.