OUD secures a place among Egypt's top five developers

Orientals for Urban Development (OUD) was given a place  among Egypt's top five real estate developers in terms of countrywide land portfolio.

While competing with  Talaat Moustafa Group (TMG) Holding, Palm Hills Developments, Orascom Development Egypt, and Emaar Misr, OUD owns land portfolio of 15 mn square meters and industrial lands of 10 mn square meters.

OUD executed more than 15 housing projects since inception with its residential units totaling 6,000 units over and area of 520 acres.

OUD unleashed a big offer early on in the summer season covering its mega projects in  Marsa Allam, the New Administrative Capital and the Fifth Settlement. The offer provides residential units with no upfront payments.

 Clients were also relieved from paying the first installments for three months.

OUD recorded the solid sales of EGP100mln only during the 20-day offer despite Coronavirus-induced  turmoil  and the real estate market slump.

"OUD managed during this critical time to overcome mounting hurdles, retain customers' trust and achieve targeted sales without shrugging off  promotional offers that meet clients' needs and income," said OUD’s head of commercial sector Shadi El Zayat. 

The offer covers the company’s North Coast project of  “Oriental Coast,” as well as “Jnoub” in the NAC and New Cairo’s “Azadir, according to El Zayat.