Ora Developers logs record accomplishment rates at ZED
The project epitomizes partnerships best serving both communities & private firms
Sheikh Zayed City's ZED embodies partnership as it should be between Ministry of Housing & New Urban Communities, represented by New Urban Communities Authority, and Ora Developers.
ZED spreads over 165 acres and comprises the Central Park
A memorandum of understanding with agent of Giorgio Armani in Egypt was signed to launch a housing project under Armani Residence, the first in the country
While touring the project, Osoul Misr Magazine explored plans targeted by Ora Developers, as the developer sealed a MoU with chief executive of Giorgio Armani in Egypt to forge and launch Egypt's first housing under Armani Residence inside Sheikh Zayed City.
Kicking off ZED Strip Clinics
Two new projects & ZED Strip Clinics were launched in Sheikh Zayed City, while ZED East Strip is in the offing
The developer will take part in starting ZED Strip in Sheikh Zayed, besides the launch of two new projects
Additionally, Ora Developers will take part in City Scape Exhibition and its representatives will showcase its latest developments in New Cairo and Sheikh Zayed City.
Ora Developers provides its customers with the integrated community offers that are made up of offices, clinics, retail outlets, sporting clubs, residences, not to mention foodstuff & beverages sale outlets.
Also, Ora Developers is poised to launch ZED East Strip, in conjunction with putting up for sale office spaces. ZED East Strip will start off as a commercial hub in the heart of the forthcoming Business Center, due to be built in the New Administrative Capital.
North Coast
Up to EGP25bn investments to be pumped by Silver Sands, as the project stretches over 550 acres in total
The first phase is fully reserved & the launch of the 2nd phase to begin early 2021
Chief executive of Ora Developers Haitham Abd El Azeem unveiled details as regards North Coast Silver Sands, the company's latest project.
Silver Sands, sprawling over 550 acres, is scheduled to to be completely finished off in the span of five years at a cost of EGP25bn.
Up to EGP5bn investments are set to be injected annually, as the 1st phase comprises 600 units made up of fully reserved villas and chalets.
The project is self-financed all in all, according to Abd El Azeem.
Liquidity
Up to EGP5bn investments are injected per year, as the company possesses up to EGP700mln cash
Ora Developers owns cash amounting to EGP700mln, which will increase threefold this year.
" We thus can carry out 30% of the project and I think that the 30% directive approved by President Abd El Fattah El Sisi will never hurt the company and will serve the customers' interests.
Head of Sales Department Marawan Zewar said the company has offered 600 units in the 1st phase, all of which were reserved within 10 days, as he predicts the 2nd phase to be launched early next year.
North Coast saw this year an uptick in purchases by Arab tourists and even Egyptian expatriates, as they come to the country in the summer season and holidays.
Head of Technicalities Department Amru Abd El Monem said the company seeks to build a mega downtown area to cater to needs of residents.
" I expect new pitches to be built along the sea," said Ab El Monem, noting that most units overlook the sea. " The issuance of pertinent licenses necessary for launching the 2nd phase early next year 2022 is in the pipeline, as the area will see the launch of a hospital, pitches and clubs soon."
Aggregate sales
Sales of Ora Developers' four projects amount to EGP160bn
Out of the four projects, Ora Developers booked aggregate sales ranging from EGP150bn to EGP160bn, he said, stressing that the land portfolio owned by the company will suffice its works in the next 10 years.
Chief Executive of Development Department at Ora Developers Samer Barsum said that the company plans to build a large commercial area in the North Coast project and it tries to target most age segments by means of rolling out varied units with spaces ranging from 400 to 500 sqm, such as villas and chalets in the 1st phase.
" The company will offer units with smaller spaces in the 2nd phase, starting off at 70 and 80 sqm," said he, noting that the company eyes the construction of a fully-serviced integrated city.
