Egyptian Businessman Naguib Sawiris, Global CEO and Chairman of Ora Developers, has announced that the company attained a 400-feddan plot of land in Fifth Settlement, New Cairo for developing an integrated residential project.

In reference to an interview with Daily News Egypt, Sawiris mentioned that the company does not plan to have an expansion in Sheikh Zayed, Giza, besides directing the company’s focus  on developing the ZED project in Sheikh Zayed, and that "we are proud of what we have achieved in the project, and it will encompass various housing categories."

He said that he did not have the intention to invest in the New Administrative Capital in the current timing.

On the sidelines of the ZED’s Winter Wonderland Park opening, he commented, “We always have the ambition to create Hyde Park in Egypt comparable to the one in London, and it is the major park situated in a residential community.”

the entertainment platform ZED Park will carry out activities and events taking place at ZED Park that will be marked in the Egyptian events’ calendar throughout the year as he explained.

Sawiris further elucidated, “Ora Developers has a recognized track record of fashioning appealing environments that create equilibrium between exceptional thinking with everlastingly delicate design in numerous markets like London, Cyprus, Grenada, Pakistan, and Egypt.”

ZED project is positioned on an area of 165 feddans, covering 700,000 square-metres (sqm) forming residential activities, a 40,000 sqm administrative part, and 70,000 sqm for commercial units.

Top image © Zed Egypt

> inputs via Daily News Egypt