Ora developers Egypt group to acquire new land in Egypt’s ElSheikh Zayed extension
Ora Developers Egypt Group, one of the market’s leading real estate companies, has announced that it is currently closing an acquisition deal of 316-feddan area of land in El Sheikh Zayed Extension in the west of Cairo, to use for its latest mixed-use development project in Egypt.
The land acquisition was part of an EGP 24 billion investment, to develop a project that will enclose single family residential units, in addition to non-residential facilities that will include retail, sports facilities, a clubhouse, a school, in addition to the outdoor communal spaces to encourage activities and interactions. All units will be delivered fully finished. The project’s architectural vision will be built upon the pillars of proximity, functionality, openness, integration and timelessness. The prestigious architectural firm SB Architects has been awarded the master-planning and the architectural designing of the development.
“This acquisition will help us, at Ora Developers Group, expand our diverse project portfolio with a whole new elevated experience, and guarantee clients that we will deliver our promises to them, as part of our aim to constantly develop sustainable, luxurious and practical neighborhoods. This also aligns with the Egyptian government real estate expansion plans.” stated Eng. Naguib Sawiris, Global CEO and Chairman of Ora Developers Group.
Haitham Mohamed, CEO of Ora Developers Egypt Group, also commented on the acquisition by affirming: “Through this new land, we hope to create an extension of a destination that attracts all different kinds of customers with varying lifestyles. This includes a constant focus on customer needs. For example, this eminent project focuses on unit designs in the form of boutique villas to fit all family sizes, as well as twin and town houses, and introduces new typologies to the real estate market. We aim to always create and provide a safe, relaxing community where everyone has access to the environment that they’ve always dreamt of living in.”