Egypt’s real estate developer firm Orientals for Urban Development (OUD) says it plans to deliver the final phase of the units of its residential and administrative flagship Fountain Park Compound in New Cairo by early 2019.
Established in 2000 by presidential decree No. 191, New Cairo city is located on the southeastern edge of Cairo Governorate, 25km (15.5 miles) from Maadi.
Asser Hamdy, OUD’s chairman, said Monday that his company is set to develop Fountain Park on a space of 55 feddans in one phase and with a built-up area of 20,000 square metres.
The project will include 136 units, with a selling value worth 2 billion Egyptian pounds ($112.8 million), a commercial centre SIDE Walk, with total investments worth 350 million pounds, 19 trade shops, and 28 administrative headquarters, Hamdy further added.
“The company has started delivering the project’s units in 2008,” he concluded.