Emaar Misr for Development S.A.E, the wholly-owned Egyptian subsidiary of Emaar Properties PJSC, has opened the largest sales centre in the world to launch the public sale of Uptown Cairo, its pioneering master-development located in Mokkattam Hills.
Uptown Cairo, an EGP 12 billion (AED 7.7 billion, US$2.1 billion) mixed-use development, features a Business Park, spa, sports & leisure facilities, a world-class golf course and several residential villages. The development is spread over 4 million sq metres and creates a new township some 200 metres above sea level.
“Emaar is reiterating its commitment to the Egyptian public with the opening of the largest ever sales centre in the world for Uptown Cairo in Mokkattam Hills,” said Mr Mohamed Ali Alabbar, Chairman, Emaar Properties. “A modern sales centre that reflects the development dynamics of the project is an idea pioneered by Emaar in Dubai to give potential investors a true feel of their dream home and offices. Uptown Cairo is one of our most prestigious projects, globally, and we want to highlight its advantages.”
Mr Sameh Muhtadi, Chief Executive Officer of Emaar Misr for Development S.A.E., added: “As a vibrant new town centre in the making, Uptown Cairo is a keenly anticipated development, and will deliver a world-class lifestyle for Egypt. Apart from modern homes, Uptown Cairo will also be a magnet for commercial enterprises and for hospitality and leisure outlets. The sales centre will be the one-stop shop for customers to get a true feel of the project and meet with Emaar executives for a detailed overview of the various amenities.”
Uptown Cairo features residences, Uptown Business Park, schools, Uptown Mall, restaurants, medical centres, Uptown Spa and leisure facilities including the Uptown Golf Club with an 18-hole golf course, tennis courts and a soccer field.
The homes, consisting of apartments, townhouses and villas in Mediterranean, Spanish and Tuscan architectural styles, are set in lushly landscaped surroundings with generous floor plans that accentuate the feeling of space. The well-detailed homes also feature built-in wardrobes, furnished kitchens, central air-conditioning, spacious balconies and generous picture windows.
Emaar is the single largest foreign direct investor in Egypt’s real estate sector and is also developing the EGP 9.92 billion (AED 6.39 billion, US$1.74 billion) Marassi, a 1,544-acre tourist resort. Emaar Misr recently announced two new projects: the EGP 5.75 billion (AED 3.7 billion; US$1 billion) residential community located at the fifth district New Cairo City and the EGP4 billion (AED 2.58 billion; US$700 million) residential-cum-commercial project located at the start of the Cairo-Alexandria road, which also features Cairo Gate, the largest lifestyle and entertainment mall in Egypt.
Emaar’s expansion into Egypt is in line with its Vision 2010 to become one of the most valuable companies in the world. The company today has a significant presence in 16 countries globally and has also diversified into education, healthcare, shopping malls, finance, industry, and hospitality & leisure.