CAIRO, 3 July 2007 — Emaar Misr for Development S.A.E, the wholly owned Egyptian subsidiary of Emaar Properties, is creating a self-sustained total township with Uptown Cairo, the first of its kind master-planned project in the country. The 12 billion Egyptian pounds (AED7.7 billion, $2.1 billion) mixed-use development features a Business Park, resorts, spa, sports & leisure facilities, a world-class golf course and several residential villages. The Uptown Cairo sales center, featuring true-to-type models of the project’s various components, will soon receive visitors.
Spread over four million square meters, Uptown Cairo is located on the Mokattam Hills, 200 meters above sea level. The new downtown will serve as a city within a city offering investment options in prime residential, commercial, retail and hospitality space.
“With Uptown Cairo, Emaar Misr is bringing to Egypt a new era in property development where the focus is on creating a total township that complements the economic growth of the country,” said Mohamed Ali Alabbar, chairman, Emaar Properties. “We are replicating the successful Dubai model of achieving impressive scales in property development and delivering a world-class living and work environment.”
He added: “Energized by the economic reforms and greater foreign investment inflow, the Egyptian economy is on overdrive. There is a steady demand for modern living quarters from the burgeoning population of professionals and entrepreneurs as well as from discerning tourists: Uptown Cairo meets their needs.”
Characterized by cooler climates and opening to an expansive green vista, Uptown Cairo underscores Emaar’s positioning as a total lifestyle provider. “Uptown Cairo brings together all elements of modern living - schools, shopping mall, grand clubs, restaurants, multiplex, elegant spas and resorts offering natural therapies, leisure facilities including an 18-hole golf course, tennis courts, soccer field, an advanced Business Club and residences,” said Sameh Muhtadi, chief executive officer of Emaar Misr. Uptown Cairo will include distinctive neighborhoods that feature homes in Mediterranean, Spanish and Tuscan architectural styles, all set in lushly landscaped surroundings with generous floor plans that accentuate the feeling of space. The apartments are well detailed out and the spacious balconies and roomy windows open to lush green landscapes that add to the quality of living.
The Uptown Business Park has been specifically planned to serve as a perfect place for businesses to flourish and will have advanced infrastructure including hi-speed telecom and Internet connectivity.