Planned Property Developments
In our New Cairo’s Property Development Part 1 post we looked at the immense task that is going into restructuring and expanding a very congested Cairo into the exciting New Cairo suburban communities of the future. As a matter of fact, many developments that are going to make up New Cairo eventually are already well on their way, caving a way for generations to come and combining modern living communal pods with ingenuity and smart design.
The fundamentals of the New Cairo master plan are strong since many problems are being eliminated; such as congestion, lack of infrastructure and space.
One of these developments was announced earlier this year by Emaar Misr for Development S.A.E, the wholly owned subsidiary of Emaar Properties PJSC. Their Santa Barbara California inspired residential and mixed used development will consist of 885 acres and be situated near the American University in Cairo, a mere 20 minutes from Cairo’s international airport.
Considered as the fifth district of Cairo, this new community development will integrate over 1,200 fully detached homes, 1,200 townhouses and 3,500 apartments.
Further, there will also be more than 2 million square feet of commercial offices in a modern Business Park setting, two hotels, shopping, an advanced 1 million square feet healthcare centre and a world-class school. The architectural details and master-plan are being scheduled and completed on a fast-track basis to get things going underway.
Several kilometres of walking and cycling trails will entice residents to enjoy the great outdoors.
Damac Properties is one of the key players in the Middle Eastern construction and has already launched not just one, but four developments in New Cairo Egypt this year.
Back in October 2007 they announced Park Avenue, a unique retail and commercial development which covers more than 32 acres of land. Park Avenue is located on the Cairo/Alex Desert Road.
Last December saw the second launch of Damac’s Egyptian plans; Hyde Park in New Cairo, a spectacular master planned residential luxury villa development to comprise of 3,000 exclusive villas with a 1 million square meter landscaped park, a residents’ exclusive country club and a stream of stylish lifestyle facilities.
Concorde at Centre Ville takes you back in time, all the way to the 1920s; a cluster of ten blocks, each comprising of several 6-storey luxury apartment buildings. Each of these feature opulent 1, 2, 3 and 4 bedroom apartments. Concorde captures the spirit of the turn of the century French architecture, complete with attention to details.
Rivoli at Centre Ville is similar to the Concorde development, featuring six blocks, each comprising of several luxury apartment buildings which are 6-storey high. They all consist of opulent 1, 2, 3 and 4 bedroom apartments.
Each of these modern and well planned developments are already under way in various stages of construction.
Developers such as Damac and Emaar Misr are certainly helping to put Egypt on the map of savvy investors who enjoy 21st. Century living in a region that is destined for future growth.