Ora Developers Egypt Group to acquire new land in Egypt’s El Sheikh Zayed Extension
The leading real estate developer announces the growth of its land capacity to upgrade its project portfolio, caters to GCC customer preferences.
Riyadh: 13 February 2023 – 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.”
The project will include fully fledged commercial facilities to meet all customer needs and desires whether local or from the GCC, including retail outlets, kids’ areas, event venues, workspaces, a gym and spa and dining outlets. The new land is strategically placed in an intelligently planned spot in El Sheikh Zayed Extension and lies between Al Dabaa Corridor and Middle ring road with proximity to Cairo Alexandria desert road and Waslet Dahshur road.
Ora Developers Egypt Group have a representative office in Dubai with the aim of promoting their real estate and facilitate the processes of concluding contracts between the company and its clients.
ENDS
About Ora Developers Group:
Ora Developers Group has a proven track record of creating beautiful environments that balance exceptional thinking with enduringly sensitive design in several markets such as London, Cyprus, Grenada, Pakistan, and Egypt. Ora Developers Group’s developments are living, breathing lifestyle destinations with a real sense of community spirit – bringing opportunity for all and offering a wide range of enjoyable lifestyle experiences.
Ora Developers Egypt Group entered the Egyptian market in 2018 to become the first in the country to introduce park-side living with the sole vision of harnessing the natural beauty of Egypt’s extraordinary landscapes and managing the development process from conception to realization. In addition to the various residential development projects, Ora Developers Egypt Group boasts leading investments in commercial real estate, office spaces, parks, sports, and recreational clubs, as well as hospitality.
For further information please contact:
Mohammed AlHasan- Media Advisor
Hill+Knowlton Strategies
M: +966582011517
