By Hamed Mahmoud
O West, a fully integrated town by Orascom Development, located in the heart of 6th of October, announced the launch of the first phase of the HillSide Villas, with its unique and magical view. This step comes in order to meet the increasing demand for the units offered in O West, as real estate sales increased by 13.8% in the first quarter of the year, in comparison to the same period last year.
This came during a major press conference held by Orascom Development in O West, followed by an inspection tour of the project, in order to check up on all the current construction within the town. The press conference’s speakers included; Engineer Samih Sawiris, Chairman of Orascom Development Holding, Engineer Omar El Hamamsy, Group CEO of Orascom Development Holding, and Mr. Tarek Kamel, CEO of O West, and a group of media professionals from various local and regional outlets.
The “uncommon” HillSide Villas are located in Qemet, one of O West’s neighborhoods, which includes a wide range of units such as Prime, Horizon, Grand Villas, single storey villas, and mansions. Living in one of the Hillside Villas allows its residents to enjoy a comforting and luxurious lifestyle along with many picturesque landscapes, on top of which are the waterfronts, several parks suitable for jogging, as well as vast open green spaces.
Engineer Samih Sawiris, Chairman of Orascom Development Holding, said: “The real estate sector is one of the most important sectors that withstood the Coronavirus pandemic and contributed to the growth of the Egyptian economy. All with the help of the pivotal role of the Egyptian government during the crisis, by injecting large funds into various sectors, especially the infrastructure sector. This protected the economy from a recession that would have led to a crisis in which it becomes impossible for individuals to buy real estate properties or any other commodities. Adding to that, real estate is still considered as a safe haven for investment.” He also stated:” What distinguishes Orascom Development is that we build integrated towns in different parts of the world. El Gouna and all our projects across seven countries add to our experiences as integrated destinations builders and real estate developers! We are confident that O West is the result of our experiences and visions, as it is a new town with an experience of more than 30 years. This town will further cement our leading position, on local and international levels, and will add a new cornerstone to the company’s continuous successes around the world.”
Engineer Omar El Hamamsy, Group CEO of Orascom Development Holding stated: “The construction and infrastructure within O West are being done at an impressive rate, following the best international standards; as the company is currently applying an expansion plan to increase its sales, and to continue the positive results during 2021.”
El Hamamsy also added: “O West’s masterplan is designed to reflect Orascom Development’s philosophy, which is based on building integrated towns, offering all sorts of arts and culture, sports, tourism, education and health services and amenities, as towns across the globe are evaluated based on their contribution in enhancing its facilities, and attracting individuals and entities.”
He emphasized on the company’s policies, as he said: “We have a construction policy that is built on the quality of services offered to our customers in Egypt, as it is the case for all countries in which Orascom Development operates. We also have a positive and optimistic plan for the current financial year, that focuses on the increase of sales in O West, as we already started collecting the fruits of our labor during the first quarter of 2021. We are working on applying the same model we implemented in El Gouna and carry out our experience in integrated towns to O West, offering a unique model of integrated towns in West Cairo.”
Mr. Tarek Kamel, CEO of O West, stated: “We are proud to launch the first phase of the HillSide Villas, in Qemet neighborhood at O West, which offers a unique and diverse collection of villas, such as Prime, Horizon, Grand Villas, single-storey villas and mansions. We made sure that the design of these units is ideal for all members of the family, while ensuring the uniqueness of all units. One of the most important features in the Hillside Villas is the unique waterfront, with its magical view, ideal location and green spaces.”
Kamel also said: “O West is located in the heart of 6th of October, as it is 3 minutes away from Mall of Egypt, 7 minutes away from Juhayna square and Arkan Plaza. We are very keen on keeping construction rates faster than usual, and until now, we built 406 villas, and in the beginning of June, we are starting the constructions of 185 apartments that were recently purchased. Adding to the work that has already started in the 5 international schools, during the first quarter of 2021, as these schools are expected to operate in the academic year starting September 2022.”
He added: “Currently we are in the final stages of developing the masterplan of O West Club, which will be a major contribution to the town, as it is considered the biggest social and sports club in West Cairo, covering 5% of the entire town. The club offers to all of its members a wide range of premium services. Additionally, we will have a business district and a hotel area, thus implementing our unique philosophy of integrated towns, in West Cairo, leaving an exceptional mark in the Egyptian real estate sector. We have also contracted with the biggest educational institutions to establish 5 international schools in O West, offering various educational systems to meet all our customers’ needs. Additionally, we have negotiated with a number of reputable health institutions and hospitals, as we are working on transforming O West to a sports, arts and health hub, to attract companies and the business sector. O West has all the infrastructural capabilities, wide areas and exceptional location to become West Cairo’s most important integrated town.”
O West’s uniqueness is built on its immense surface, which covers 1000 acres and an exceptional urban design, perfectly balancing between green areas and buildings, adding to the unique architectural design of each neighborhood. This is reflected in the increasing demand of units in the town, especially in “Qemet”, a real estate project with a total inventory of EGP 7.5 billion, which was launched in February 2021. The company is also intending to increase more units in Qemet during the second half of 2021, to meet the increasing high demand.
It is worth mentioning that Orascom Development Holding (ODH) is a leading developer of fully integrated destinations, including hotels, residential units and leisure facilities such as golf courses, marinas and supporting infrastructure. ODH offers a diverse portfolio of worldwide destinations covering Egypt, the United Arab Emirates (UAE), Oman, Morocco, Montenegro, Switzerland and the United Kingdom. The group operates a total of 33 hotels with 7,178 rooms and controls approximately 101 million sqm of land. The company has also achieved exceptional financial results during the first quarter of 2021, as its revenues reached EGP 1.46 billion, with a 61.5% compared to EGP 903.8 million during the same period in 2020, despite the headwinds from the prevailing Covid-19 affecting the company’s hospitality segment. Additionally, the company’s net profit increased by 377.1% reaching EGP 438.5 million, compared to EGP 91.9 million in the first quarter of 2020.
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