Eng. Omar Elhitamy, OHC Managing Director
Orascom Housing Communities (OHC) joins the Cityscape Egypt Real Estate Summit, organized in association with Next Move, and held from February 20-23 at the Cairo International Conventional and Exhibition Centre. During the Summit, Eng. Omar Elhitamy, OHC Managing Director, will take part in panel and roundtable discussions, and workshop analysing market’s potential as well as addressing the sector’s pivotal role in rebuilding Egypt and driving economic growth.
“The Egyptian real estate sector has always represented an opportunity for investors. Strengthening the collaboration between all stakeholders is crucial to achieve sustainable solutions. We believe that involved parties should adopt transparent policies enabling developers to offer more successful projects in response to the growing need for affordable housing units, which currently stands at 500,000 units annually,” commented Omar Elhitamy, OHC Managing Director. “We are delighted to announce that Haram City has been shortlisted amongst the three finalists for Cityscape Egypt awards for the categories of Best Sustainable Development, Mixed Use Project (Built) and Residential Projects (Built)”. The final winner will be announced at a Gala dinner held on February 21st at the Four Seasons Nile Plaza.
On February 21st, OHC will be part of a panel discussion that aims at determining industry fundamentals by evaluating Egypt’s market performance and assessing true demand levels in order to capitalise on the country’s booming residential market. In the evening of that same day, the company will be involved in a thorough roundtable discussion regarding affordable housing investment opportunities with other key developers. In addition, on February 22nd, OHC will be leading a half day workshop to present an overview of the Egyptian affordable housing market, its challenges and opportunities, the development of mortgage finance as well as international success models that could be adopted locally.
Under the umbrella of Orascom Development Holding (ODH), OHC will be showcasing Haram City and Haram Life through maquettes to enable visitors to visualise the projects during the exhibition at their 2C20 booth. Furthermore, a dedicated team of OHC marketing and sales staff will also be present at the booth to respond to any queries visitors may have throughout the days of the exhibition.
Launched in 2007, Haram City spans over 8.4 million square meters of land. With more than 11,500 units constructed, Haram City is home to over 5,000 families and provides a number of diverse amenities including: schools, stores, clinics, commercial area, sporting facilities, a cinema, and houses of worship. In addition, Haram City will include retail and commercial properties as well as office space. Upon completion, it is expected to hold approximately 50,000 to 70,000 units.