Contractor, Orascom Construction, has been appointed by Ora Developers to build the first phase of theZED Sheikh Zayed mega-project in Egypt, following the completion of the master plan and architectural design work of the project by WATG International.
Orascom Construction, according to the terms of the contract, is required to build approximately 600 housing units in this phase, along with a three-storey garage, a two-level mall, and four 17-storey apartment towers.
This initial phase will be financed by Banque Misr following a loan agreement worth approximately US$ 63M signed with Ora Developers.
ZED Sheikh Zayed mega-project in Egypt will be built in six phases and, upon completion, it will feature over 4,500 residential units and an administrative commercial complex.
Distinguished commercial projects in Egypt
A member of Gemini Group, Ora Developers is one of the leading companies in the real estate field in Egypt, designing and developing luxury lifestyle destinations in unique locations through world-class expertise, exceptional attention to detail, and visionary ideas.
Speaking on the appointment, Orascom Construction’s CEO Osama Bishai said that his company is pleased to collaborate with Ora Developers on their new flagship ZED Sheikh Zayed mega-project in Egypt.
“We have been pioneers in constructing distinguished commercial projects in Egypt and look forward to building on our longstanding track record in this particular sector,” concluded the Orascom Construction’s CEO.
Haitham Abdel Azeem, the CEO of Ora Developers said that since the launch of the ZED Sheikh Zayed mega-project in Egypt, the company has sought collaboration with leading contractors and designers such as Orascom Construction and WATG International to ensure an exclusive experience for its customers.
He also promised to maintain a good pace of construction of the project in order to finalize the project as planned.