OUD signs agreements with 8 contractors to execute EGP1bn works at NAC, NC
Housing units at Marsa Allam are set to be delivered 6 months earlier than scheduled
Oriental Urban Development, a subsidiary of Oriental Weavers Group, signed agreements worth USD1bn with 8 contractors to execute works at the New Administrative Capital’s Jnoub and New Cairo’s Azadir in the second half of this year.
The contracts are made in order to expedite constructions and help fulfill OUD’s commitments to clients, as the company strives to hand over the residential units on time or even 6 months earlier than scheduled.
The contracts shall be carried out in the span of 18 months, making the contractors eligible to accept new works not before 2021.
OUD said that contracts have been signed with 5 contractors to execute constructions at NAC’s Jnoub against USD700mln.
While being easily accessible from the Presidential District, the Ministerial Cabinet, House of Representative, the Governmental District, the International Airport and Masa Hotel, Jnoub consists of 1900 housing units ranging from flats, villas and twin houses.
Jnoub spans the smallest built-up area and encompasses large landscape and green areas which constitute up to 80% of the total area.
While maintaining the privacy of its dwellers, all Jnoub's residential units overlook landscapes and green areas and encompass large roads and streets.
Up to 70% of the project have been promoted for sale even before the actual delivery of its units scheduled for the 4th quarter of 2022.
On the other hand, OUD entered into EGP300mln agreements with 3 firms for New Cairo's Azadir.
Azadir spans a plot of land of 70,000sqm with a built-up area constituting 18,5% of the total area.
With the aim of creating space for larger green areas and services, OUD was keen to have the smallest built-up area in proportion to the whole project by means of growing more than 1000 shade trees.
Azadir encompasses vast gardens with healthy plants and colorful flowers. These gardens are interspersed not with streets but with lanes for people to walk and run under the branches of trees, making Azadir quiet and safe enough for kids to play.
Talking about Marsa Allam's Oriental Coast, OUD said that the one phase of Las Cabanas has been finalized and ready to be handed over 6 months earlier than scheduled.
Regarding Matangi, the second phase of the project is under construction, as the first phase will be delivered in 2021.
Oriental Coast, with a beach of 7,5km, is built over 5,5mln sqm along the Red Sea Coast and is 30km north of Masrs Allam Airport.
While Oriental Coast comprises of 8 international hotels with 3700-room capacity, the construction of other entertainment mega projects such as international aqua park, golf course and yacht marina is underway.
Also, OUD invited investors to inject money into two hotels in Marsa Allam, as construction works at both hotels have been completed.
Additionally, all construction works at Obour City's Heliopolis Hills have been finalized, as finishing the interiors is underway and delivery is scheduled for 2021.
For the sake of not falling behind with regard to advanced technologies, OUD also entered into agreement with a leading company to introduce smart services to Baron City at costs higher than those specified earlier.
OUD is providing top-notch after-sale services, as a specialized department is dedicated to this job 24 hours a day and seven days a week.
Additionally, maintenance and security services, among others, are provided by the company which was keen to hire and train more employees in order to ensure clients receive the best after-sale services.
OUD holds a portfolio with 15ml sqm lands suitable for building houses as well as 10mln sqm for building factories.
OUD executed 15 housing projects, equivalent to 6,000 housing units over areas totaling 520 acres, as other 10 projects are under construction.
