CAIRO: Emaar Egypt s sales center – featuring true-to-type models of the Uptown Cairo real estate project – will soon open to the public and start receiving visitors and potential buyers. The center will showcase virtual models and prototypes of villas, apartments, in addition to various archetypes of leisure and entertainment complexes.
Spread over 4 million square meters, Uptown Cairo is located on the Mokattam Hills, 200 meters above sea level. The new downtown will serve as a city within Cairo offering prime residential, commercial, retail and hospitality facilities.
“With Uptown Cairo, Emaar Misr is bringing to Egypt a new era in property development where the focus is on creating a total township that complements the economic growth of the country, said Mohamed Ali Alabbar, chairman of Emaar Properties. “We are replicating the successful Dubai model of achieving impressive scales in property development and delivering a world-class living and working environment.
Uptown Cairo brings together all elements of modern living – schools, shopping mall, clubs, restaurants, multiplexes, elegant spas and resorts as well as leisure facilities including a golf course, tennis courts, a soccer field, an advanced business center and residences, said Sameh Muhtadi, newly-appointed chief executive officer of Emaar Egypt.
Emaar Egypt, a fully-owned Egyptian subsidiary of Emaar Properties, aims to create a self-sustained total township with Uptown Cairo, making it the first master-planned project in the country. Sales on the LE 12 billion real estate project have already begun, however, construction is still in its first phase.
“Energized by economic reforms and greater foreign investment inflow, the Egyptian economy is in overdrive. There is a steady demand for modern living quarters from the burgeoning population of professionals and entrepreneurs as well as from discerning tourists, added Alabbar.
Emaar Properties has mapped out three other mega-projects in Egypt. It will soon begin construction on the North Coast Marassi Resort; and is currently charting two residential-commercial projects New Cairo City and Cairo-Alexandria Desert Road. Emaar has significant presence in 16 countries globally, featuring residential projects in line with its vision to create fully-integrated communities with everything from residences, healthcare and leisure facilities as well as schools.
