Oriental Urban Development, a subsidiary of Oriental Weavers Group, eyes the injection of up to EGP 900mn investments in construction works at the New Administrative Capital’s Jnoub in 2021, Invest-Gate reports.
OUD scored a record construction rate at Jnoub compound, mirroring industry tycoon Mohamed Farid Khamis’ strategy based on the simple tenet of rolling out groundbreaking products, according to an official statement on March 4.
Emanating from its desire to introduce innovative and novel products, OUD taps into Egypt-based leading consulting offices to construct Jnoub. OUD appoints Moharram Barhoum as the project’s general consultant, as the engineering advisor has an outstanding track record including the construction of the Grand Egyptian Museum, Tahrir Garage, Stanley Bridge, the 6th of October City, Cairo Airport, Ministry of Foreign Affairs, Cairo Stadium, Sheraton Hotel, and Grand Hyatt Hotel in Cairo, the statement reads.
Jnoub compound is situated near the Residential Suburb, the Cabinet & Representative’s buildings, in close proximity to International Capital Airport, Al-Masa Hotel and includes residential units ranging from apartments, villas, and townhouses, the statement continues.
Additionally, the compound has the smallest built-up area, but vast landscape space, and green areas, constituting more than 80% of the total area. Back in 2020, OUD won African International Property Awards for building projects in line with the state’s developmental plans.
Jnoub has multiple entrances and exits, easing movement in and out, as the single block has three entrances. Further still, a ring road was built, supplying buildings with in-between spaces and thus creating green areas of more than 2500 m, the statement says.
Also, the compound allocates parking spaces for each residential unit and solar cells provide power to more than 50 percent of its total area. OUD provides varied, up to 9-year payment schemes at Jnoub, the statement concludes.
Since its inception, OUD has executed more than 15 compounds with up to 6,000 units over more than 520 acres. Moreover, the construction of about 10 compounds is underway.