Your Egypt

[Winky]

Egypt: Saturday, August 13 - 2005 at 08:34 GMT+4

Cairo Heights development.
With its prime location at the highest point of downtown Cairo, construction of the seven communities that will make up the new district will begin shortly and is expected to reshape the face and lifestyle of the historic Egyptian capital.

Cairo Heights, a residential, commercial and recreation community, is being developed by Emaar Misr, a subsidiary of the UAE-based Emaar Properties and Al Nasr Housing & Development Company, an affiliate of the Housing Tourism & Cinema Holding Co. The 4 million square metres Cairo Heights will recreate the luxury and style that are features of Emaar's world-class Dubai developments.

Shafik Gabr, Vice Chairman, Issam Galadari, International Projects Executive Director, and Low Ping, Chief Risk Officer signed the agreement yesterday on behalf of Emaar Misr. Mahmood Hamdi El Heindy, Chairman and Managing Director, signed on behalf of Al Nasr Housing & Development Company.

Mohamed Ali Alabbar, Chairman of Emaar Properties, said: 'Today marks a momentous occasion as we move forward with this unique project. Cairo has been described as the Jewel of the Orient, the City of the thousand Minarets, and the melting pot of ancient and modern Egyptian civilizations. It is undoubtedly one of the greatest cities in the world and it is a rare privilege to be able to be able to contribute to its evolution.

'Cairo Heights has to reflect the spirit that helped to build this great city over millennia. The development has to be special if it is to seamlessly meld with Cairo's rich heritage. These are the objectives we have set our sights on and we are confident of achieving.'

Mr. El Heindy said: 'This signing will lead to the creation of one of Emaar's trademark master-planned communities in Cairo and offer the City's residents new lifestyle choices and options.'

Cairo Heights, which will stretch over the Mukattam suburb, is expected to become a magnet for the capital's trendsetters. Its stylish mixture of medium and low-rise buildings boasting the most spectacular views of the city and the Nile will offer the most desirable addresses in Cairo.

This latest announcement signals Emaar's breakthrough development in North Africa and sees it rolling out its strategy of undertaking prestigious master-planned residential developments in the heart of the world's great cities. As it bids to consolidate its position as the world's premier property developer, Emaar continues to provide buyers with quality lifestyle projects and shareholders with value.

The new district will be designed and built to harmonise with the contours of the Mukattam area. Construction will begin later this year and is scheduled to be completed in 2010. Cairo Heights will offer residents welcome relief from the congestion of downtown Cairo and a contrast in style and outlook to anything the capital has seen.

With environment and location such important considerations for the type of customers who will buy into the Heights, buildings have been designed so that the maximum number of apartments face north and get the benefit of the cool breezes from that direction. It is this attention to detail that will make the Heights unique and very special.

Each of the Cairo Heights district's seven communities will offer a variety of residential buildings ranging from low-rise on the hillside to medium rise - three to 22 storeys further down the slope. The borders of each village will be defined by interior loop roads, though they will be integrated into residential neighbourhoods with internal roads and pedestrian walkways linking the village centres.

The new district will include a vibrant central town centre, an owner's private clubhouse, hotels, restaurants, cafes, schools, swimming pools, healthcare facilities, retail centres and mosques.

The highest and most visible point of the site will be developed as a town centre to create a visual connection with Greater Cairo. It will add a new feature to the skyline that will draw visitors to the area.

Emaar will shortly launch a dedicated website to allow prospective Cairo Heights residents the opportunity to indicate their interest in the project.

[Winky]

:? Ahem that was me again..... the guest ..

:) Ray I know you told me the reason for my "guest" appearance :) in your pm but when will you change it ?
It happened again , so I AGAIN changed my password I am ruining out of passwords :lol: soon !

Also I can not correct mistakes :(

Winky

[Explorer the eighth]

I may be answering a post that is five months old, but it is still good news to me. This development should be good for Egypt's economy.

[Winky]

:) Explorer I was just reading this its even more interesting !!

For risk takers, the Balkans and Egypt paid off
By Judith Rehak International Herald Tribune

SATURDAY, JANUARY 14, 2006



Bla Bla Bla this is about the balkans...and then continues;


An even less likely region for outperformance in 2005 was the Middle East. Egypt was the world's best market last year, according to the Morgan Stanley Capital Index. Shrugging off negatives like the terrorist attack on its tourism industry in July, Egypt's market soared 154 percent.

At Oppenheimer Developing Markets fund, a 3.5 percent stake in Egypt - compared with 0.8 percent in the benchmark - contributed to the portfolio's stellar performance. It rose 9.3 percent in the quarter ended Dec. 26, according to Standard & Poor's. The fund had been in and out of the Egyptian market over the years but had limited itself to small holdings.

"But about a year ago, we took much larger positions there," said Mark Madden, the portfolio manager. "We saw government reforms, sustainable economic growth, and the privatization of banks, reducing government intrusion in the economy."

Among the fund's top Egyptian performers were the two major cellphone companies, Vodafone Egypt, and Orascom Telecom, the largest regional operator. Despite rapid growth, overall penetration of the cellular market is still low, Madden said.

"Part of the Orascom story is that they are also in Pakistan, and even a major player in Iraq," he said.

"If fighting subsides there, cellular would be the quickest solution to service."

Another outperformer was Commercial International Bank, a double-barreled play on banking overhaul and the mortgage market.

"There's a huge pent-up demand for housing if the mortgage market becomes easier," Madden said.

Egypt's performance is attracting hedge funds, adding the danger of volatility to an already unpredictable market. But, Madden said, "we're willing to suffer that volatility for longer-term gains."


:lol: you see that Hedge they noticed you were in Egypt !!!

:wink: