ICEC

OUD markets phase I of J’noub in Egypt new capital

Egypt’s property developer Orientals for Urban Development (OUD), an affiliate to Oriental Weavers, says it has promoted the first phase of its project J’noub in the country’s new administrative capital.

The first phase is with sales worth around 400 million Egyptian pounds ($22.3 million), OUD’s chairman Asser Hamdy told Amwal Al Ghad on Monday.

J’noub, OUD’s first project in the new capital, will be executed over 50 feddans in four phases within a three-year timeframe, Hamdy said.

The project will include 1,900 various housing units that will encompass villas, townhouses, and apartments, he added.

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