Ora Developers Egypt has achieved sales totalling EGP 145bn since its debut in the Egyptian real estate market six years ago, making it one of the fastest-growing companies in the sector, according to Haitham Abdel Azim, the company’s CEO, in an interview with Daily News Egypt.
How do infrastructure improvements and public facility developments in east and west Cairo attract investors and create a stimulating business environment?
The government’s efforts to improve infrastructure and develop public facilities in east and west Cairo play a crucial role in enhancing the attractiveness of these areas for investors. Modern roads and bridges that connect these regions to the rest of Greater Cairo facilitate access and reduce traffic congestion, making them more suitable for living and working. Furthermore, investment in public transportation networks, such as the subway and electric train, helps ease residents’ commuting and increases the appeal of the real estate areas. Additionally, the development of public facilities like hospitals, schools, and universities enhances the quality of life in these regions, which in turn boosts property values, making them a preferred choice for families and businesses alike.
This focus on improving infrastructure not only attracts local investors but also encourages foreign investors to enter the Egyptian market, as they see these enhancements as evidence of market stability and sustainable growth opportunities. All these factors create a stimulating investment environment that drives investors to inject their capital into new real estate projects, whether residential or commercial.
Ora Developers Egypt’s strategy is characterized by offering integrated projects that meet customer needs in various locations in East and West Cairo and the North Coast. Over the past six years since our establishment, we have achieved sales exceeding EGP 145bn, making our company one of the fastest-growing in the Egyptian real estate market. We continuously strive to deliver sustainable projects that enhance Egypt’s position as an attractive investment destination.
What are the main advantages of the Club Side Towers project in Zed East compared to other residential projects in New Cairo?
The Club Side Towers project stands out with its distinctive architectural and engineering design that embodies elegance and luxury. It offers a serene and upscale residential experience, with each unit meticulously designed to make the most of the stunning natural surroundings. The first floors feature a range of luxurious amenities, including a stylish restaurant and fully-equipped fitness facilities that promote health and well-being, as well as co-working spaces designed to enhance productivity and creativity. All these features make Club Side Towers an exceptional residential destination compared to other projects in the area.
How does the second phase of Club Residence enhance the luxury living experience offered by Ora Developers Egypt to its clients?
The second phase of Club Residence represents a significant step in enhancing the luxury living experience that Ora Developers Egypt aims to provide to its clients, building on the great success of the first phase. This new phase offers a diverse range of residential units to suit various tastes and needs, including apartments, duplex units, and loft units, allowing clients to choose the living style that best fits them. Additionally, this phase directly overlooks the Zed East Sports Club, providing residents with a unique opportunity to enjoy a sports and recreational experience. This diversity in residential options, combined with the project’s strategic location, solidifies Club Residence’s position as an ideal choice for those seeking a luxurious and integrated lifestyle.
Are there any facilities or incentives that investors currently need from the government?
Providing an attractive and stimulating investment environment is key to attracting investments in the real estate sector and achieving sustainable development. Therefore, one of the most important facilities that investors in this sector currently need is the reduction of administrative burdens and the simplification of procedures for obtaining the necessary licenses and approvals for real estate projects. Additionally, offering facilitated loans with long repayment periods and low interest rates encourages investment in the sector.
Improving infrastructure in areas where real estate projects are being developed—such as roads, transportation, sewage, and electricity—also enhances the attractiveness of these areas for investors and buyers. Furthermore, supporting research and development in real estate technology and implementing smart solutions in projects are crucial factors for attracting investments.
Ora Developers Egypt continues to focus on sustainable projects. The company aims to develop integrated communities that meet all of its clients’ needs, including residential, commercial, sports, educational, and healthcare units, thereby increasing the attractiveness of its projects to investors. Additionally, the company is working to expand its marketing efforts to include foreign markets, taking advantage of favourable exchange rates to boost property exports.
What is the total investment directed into construction this year, and what are the company’s current financing strategies?
Ora Developers Egypt offers a wide range of projects, including residential, commercial, sports, and hospitality developments. These projects are strategically located in East and West Cairo and the North Coast, including ZED Sheikh Zayed, ZED East, Pyramids Hills, Solana West, Solana East, and Silver Sands project on the North Coast.
As for the company’s financing plan, Ora Developers secured substantial financing worth EGP 7bn from a major banking consortium that includes four major banks, led by Commercial International Bank (CIB) and National Bank of Egypt as primary lenders and arrangers, along with Al Baraka Bank Egypt and Abu Dhabi Commercial Bank Egypt as lenders to finance the ZED East project. This highlights the confidence that financial institutions have in our projects and future vision. We are investing heavily in our diverse projects, which cover various real estate sectors in Egypt.
