Abraj Misr heralds EGP4.5 billion Eco-friendly Project in Egypt
Real estate company Abraj Misr announced plans to invest 4.5 billion Egyptian pounds (US$589.7 million) in the launch of the biggest eco-friendly project in Egypt and the Middle East ‘The Gate’. The project is over 35,000sqm.
Placed in the heart of Cairo, ‘The Gate’ is a luxury mixed-use development encompasses 7 residential, commercial, retail, and offices units; in addition it boasts a 5 star hotel. Also, the project includes bunch of services offered for clients to enjoy life empty of noises of the capital.
The company dubbed the new project as the first and largest “residential, administrative, smart and eco-friendly project”.
“With the mission to create an iconic building in Cairo, The Gate enjoys a very strategic location, on Al-Nozha Street, Masr El-Gedida neighboured with large projects,” the company statement said. “The site also enjoys strong connections to Cairo Airport and main Cairo arteries.”
The project is expected to offer thousands of direct and indirect job opportunities over the period of its implementation, which will be approximately three years.
The eco-friendly project will include solar water heating, wind turbines, green areas and roof terraces.
Chairman of Abraj Misr, Aly Rabie told Amwal Al Ghad on Monday that announcing and starting works on ‘The Gate’ days before Egypt’s Economic Summit kicks off conveys positive messages to the Arab and foreign investors and testifies confidence in the Egyptian investment climate.
The Gate is designed by the renowned Belgian architect Vincent Callebaut slanted the vision of Abraj Misr into giving this edge in building concepts inside Cairo, by introducing The Gate. The project’s implementation will start in April and finalise in 2018.
Moreover, this eco-friendly project enjoys unique aspects like archi-green Building, passive geothermal cooling, solar photocells, solar water heating, wind turbines, green walls, rooftop community gardens, HVAC control Communication Systems, and smart home user interface facilities.
