Upscale-Egypt launches $450mn-project in Borg Al Arab

Egypt emerging real estate development firm, Upscale Development Holding (UDH), launched its first project in Borg Al Arab with total investments worth 4 billion Egyptian pounds( $450million), its chairman, Mohamed Khairy, said Wednesday.

Upscale Borg Al Arab would create 50,000 direct and indirect job opportunities, it is considered to be an urban oasis just on the outskirts of Egypt’s second largest city – Alexandria.

The project is spread over a total area of 150 feddans, it incudes 3.000 housing units  with a variety villas, town houses and apartments offering a choice of living spaces and design layouts.

In addition to the residential area, the company allocates 190,000 sqm of the project area to the commercial area smart town, which comprises of the commercial, business and facility services of the project.

The project will embrace a University on a total area of 126,000 sqm dedicated entirely to the education and enrichment of the community. In addition, it would encompass three schools and training centers.

Moreover, the company would start building the first phase of the schooling and university facilities during the current phase.