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A rendering of New Cairo City, an upcoming real estate project in Egypt |
Emaar Misr for Development S.A.E, the subsidiary of Emaar Properties PJSC, a leading real estate developer in the UAE, has unveiled the components of its EGP 5.75 billion (US$1 billion) New Cairo City project. The real estate development is an elegant, Santa Barbara California-inspired residential and mixed-use project of 885 acres near the American University in Cairo and just 20 minutes from the Cairo International Airport.
Mr Sameh Muhtadi, Chief Executive Officer, Emaar Misr for Development S.A.E, said: "Emaar is going full-steam ahead with the four projects announced in Egypt. The strong investor response to Uptown Cairo and Marassi, and the interest generated by Cairo Gate signal the trust of the Egyptian public in Emaar's projects."
A fully integrated community in line with Emaar's real estate projects in the Dubai, the mixed use development is located in the fifth district of New Cairo City. Its residential components include over 1,200 fully detached homes, 1,200 townhouses and 3,500 apartments. Other key components are more than 2 million square feet of commercial offices in a modern business park setting, an advanced 1 million sq ft healthcare center.
