Egypt’s property developer Orientals for Urban Development (OUD), an affiliate of Oriental Weavers, said on Monday it has launched last week the second phase of its flagship – Azadir Compound – in the Fifth Settlement district in New Cairo.
“The launch of the second phase, dubbed Presidential Suites, comes after the first phase was sold out in a short time,” according to OUD’s owner Mohamed Farid Khamis.
Spanning over 70,000 square metres, the project is with a built-up area of 18.5 percent, while the rest of the project’s area is allocated for green spaces.
OUD will plant more than 1,000 Neem trees in the project, besides large gardens interspersed with walking and jogging paths, Khamis added.
“Our new project provides luxury units at the highest level in one of the distinctive areas in the Fifth Settlement at competitive prices to meet all customers’ needs,” he said. The second phase’s units have different spaces; 55, 90, and 135 square metres.
“Innovative design studies have been developed in cooperation with the project’s consultant, Azur. These designs make good use of every inch in the apartment, so that those with a 55 square metres apartment can feel it spacious.”
The loading factor in Azadir’s apartments does not exceed 20 percent, the lowest in a residential community.
The OUD is a joint-stock company affiliated to Oriental Weavers Group. It was established in 1994 to capitalise on the real estate boom in Egypt.
The company has since bloomed into one of Egypt’s largest real estate and urban development companies with developing several projects namely J’noub project in New Administrative Capital, Oriental Coast in Marsa Alam, OIC industrial project in Ain Sokhna, and other projects in New Cairo, Obour, and Kattameya.
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