Emaar in Dh14.5b project

DUBAI — Emaar Properties PJSC yesterday announced the signing of its Dh14.5 billion Cairo Heights development — the group's first large-scale project in Egypt. With its prime location at the highest point of downtown Cairo, construction of the seven communities that will make up the new district will begin shortly.

By A Staff Reporter

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Published: Fri 12 Aug 2005, 12:53 PM

Last updated: Thu 2 Apr 2015, 4:14 PM

Cairo Heights, a residential, commercial and recreation community, is being developed by Emaar Misr, a subsidiary of the UAE-based Emaar Properties and Al Nasr Housing & Development Company, an affiliate of the Housing Tourism & Cinema Holding Co. Cairo Heights will cover four million square metres.

Shafik Gabr, Vice Chairman, Issam Galadari, International Projects Executive Director, and Low Ping, Chief Risk Officer signed the agreement yesterday on behalf of Emaar Misr. Mahmood Hamdi El Heindy, Chairman and Managing Director, signed on behalf of Al Nasr Housing & Development Company.

Mohamed Ali Alabbar, Chairman of Emaar Properties, said: "Today marks a momentous occasion as we move forward with this unique project. Cairo has been described as the Jewel of the Orient, the City of the thousand Minarets, and the melting pot of ancient and modern Egyptian civilisations. It is undoubtedly one of the greatest cities in the world and it is a rare privilege to be able to contribute to its evolution. Cairo Heights has to reflect the spirit that helped to build this great city over millennia. The development has to be special if it is to seamlessly meld with Cairo's rich heritage. These are the objectives we have set our sights on and we are confident of achieving."

El Heindy said: "This signing will lead to the creation of one of Emaar's trademark master-planned communities in Cairo and offer the city's residents new lifestyle choices and options."

Cairo Heights will stretch over the Mukattam suburb. It will have a mixture of medium and low-rise buildings with views of the city and the Nile.

The new district will be designed and built to harmonise with the contours of the Mukattam area. Construction will begin later this year and is scheduled to be completed in 2010. Cairo Heights will offer residents welcome relief from the congestion of downtown Cairo and a contrast in style and outlook to anything the capital has seen.

With environment and location such important considerations for the type of customers who will buy into the Heights, buildings have been designed so that the maximum number of apartments face north and get the benefit of the cool breezes from that direction. It is this attention to detail that will make the Heights unique and very special.

Each of the Cairo Heights district's seven communities will offer a variety of residential buildings ranging from low-rise on the hillside to medium rise — three to 22 storeys — further down the slope. The borders of each village will be defined by interior loop roads, though they will be integrated into residential neighbourhoods with internal roads and pedestrian walkways linking the village centres.

The new district will include a vibrant central town centre, an owner's private clubhouse, hotels, restaurants, cafes, schools, swimming pools, healthcare facilities, retail centres and mosques.

The highest and most visible point of the site will be developed as a town centre to create a visual connection with Greater Cairo. It will add a new feature to the skyline that will draw visitors to the area.

Emaar will shortly launch a dedicated website to allow prospective Cairo Heights residents the opportunity to indicate their interest in the project.

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