OUD to inject EGP1.6bn into compounds at NAC, Marsa Alam
Oriental Urban Development, a subsidiary of Oriental Weavers, unveiled its 2021 investment plan, whereby up to EGP1.6bn will be pumped to execute construction works in compounds at 5th Settlement, the New Administrative Capital and Marsa Alam.
In adherence to parent company Oriental Weavers' strategy entrenched by Godfather and Egypt's National industry tycoon late Mohamed Farid Khamis, OUD's projects are scoring high accomplishment rates in the face of coronavirus pandemic.
OUD seeks to inject up to EGP900mln in 2021 in NAC's Jnoub compound.
NAC's Jnoub compound
Jnoub compound, situated close to the Presidential Neighborhood, Ministerial Cabinet, House of Representatives, the Governmental Neighborhood, is easily accessible from the International Capital Airport, Al Masa Hotel.
Jnoub compound
Jnoub compound consists of residential units, be they apartments, villas and townhouses. It encompasses the smallest built-up area and vast landscapes, green areas constituting up to 80 percent of total area, together with diverse services.
OUD's compounds
Also, OUD will pour in up to EGP250mln in 5th Settlement's Azadir compound, spanning an area of 70,000 sqm with a built-up area constituting 18.5 percent of the total area.
Azadir's buildings are far smaller than green and services areas where up to 1000 trees are planted.
As regards Marsa Alam, OUD aims to inject EGP400mln into Oriental Coast spreading an area of 5.5mln sqm.
Oriental Coast, spreading over 30 kilometers north of Marsa Alam Airport along a 7,5km beach, comprises 8 international hotels with 3700-room capacity, while the construction of world-standard entertainment facilities, aqua parks, golf courses and marina for yachts is underway.
In line with its 2021 marketing strategy with a special focus on mechanisms like the participation in real estate exhibitions, OUD rolls out a groundbreaking plethora of real estate projects at Al-Ahram Real Estate Exhibition scheduled to take place in Mansoura City from 18 to 21 March.
OUD presents trailblazing offers for the exhibition visitors, including a 5 percent discount for syndicates, sporting clubs and chambers of commerce.
