Orascom Development Egypt’s (ODE) flagship project on the Red Sea coast of Hurghada, Makadi Heights, will soon see integrated telecommunication services, under the signing of a cooperation agreement with Telecom Egypt – WE, Invest-Gate reports.
Telecom Egypt’s work scope includes the implementation of the information and communications technology infrastructure for Makadi Heights and the extension of the required optical fiber network to provide integrated services for the Red Sea project’s residential and administrative units, according to the press release on November 29.
Accordingly, users will have access to cutting-edge landline services, high-speed Wi-Fi connection, Internet Protocol Television (IPTV) systems, and many other advanced communication interfaces, it added.
“The cooperation also includes granting Telecom Egypt the exclusive rights to sponsorship, advertising, and marketing in all stages of Makadi Heights in the areas of telecommunications and the Internet. Also, Telecom Egypt will be the official and exclusive sponsor in the fields of telecom and Internet for all major events and festivals that will be held inside the coastal town,” read the statement.
Speaking of the new signing, Makadi Heights CEO Tamer Dewidar underscored, “Our cooperation with Telecom Egypt, with its advanced infrastructure and world-class technologies in the field of communications, is a strong addition to Makadi Heights.”
“It is a continuation of our vision of providing all of the life services needed by residents and visitors to the city, thus achieving a qualitative leap in the concept of an integrated life,” Dewidar explained.
Nestled within a strategic location that reaches 78 meters above sea level, Makadi Heights is an all-year-round destination that incorporates a diverse range of residential, administrative, recreational, and commercial properties.
Last November, the fully-fledged project saw the release of a new phase, called “Topio,” coming with an inventory valued at EGP 130 mn. Work is in full swing for the delivery of phase II, with plans to hand over 244 additional homes in 2022.
Since the reactivation of marketing campaigns in April 2018, Makadi Heights achieved impressive sales, as net real estate sales more than doubled to EGP 220.7 mn in Q3 2020 versus EGP 97.9 mn in the year-ago period.
Better yet, net sales hit EGP 337.0 mn during the first nine months of 2020, edging up 4.5% compared with the corresponding period last year.