| 21 Oct 2009 |
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Emaar Misr showcases masterplans submitted for H. H. Sheikh Khalifa City
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Integrated housing project envisages developing over 12,000 units for Egyptian youth
Highlights EmaarEmaar
's partnership in socio-economic growth projects for Egypt
Five masterplans selected from ten design consultancies
Master-plans currently on display at the Emaar MisrEmaar Misr Sales Centre in Cairo
Designs focus on economical, physical, ecological and cultural aspects
Cairo, Egypt; October 21, 2009: Emaar MisrEmaar Misr
is currently showcasing the masterplans submitted by ten firms chosen for an international competition for masterplanning and designing the H. H. Sheikh Khalifa City. All the masterplans are now on display at the Emaar MisrEmaar Misr Sales Centre. H. H. Sheikh Khalifa City is developed under the directions of His Highness Sheikh Khalifa Bin Zayed Bin Nahyan, President of the United Arab Emirates. Developed with a grant of US$100 million from His Highness Sheikh Khalifa, the project will feature over 12,000 homes for young Egyptian professionals and higher-degree holders. Abu Dhabi MunicipalityAbu Dhabi Municipality
has signed a Memorandum of Understanding with Emaar MisrEmaar Misr, which serves as the development manager on a non-profit basis. Of the ten submissions, five have been selected for the second stage of the design competition after a thorough evaluation by an eminent panel of jury, based on international standards including economical, physical, ecological and cultural aspects. The top five firms will now make submissions for the second stage of the design competition in November.
H. H. Sheikh Khalifa City is located on land provided by the Egyptian Ministry of Housing, Utilities and Urban Development, on Cairo-Suez Road, next to Al Rehab City. Envisaged to be a symbol of excellence in new community design, H. H. Sheikh Khalifa City is planned to provide housing in an integrated neighbourhood. The development will feature healthcare facilities, community & retail centres, educational institutions and places of worship.
Mr Eissa Mubarak Al Mazroui, Head of the Executive Committee for the Project Administration representing Abu Dhabi MunicipalityAbu Dhabi Municipality, said: "The selected schemes mark the beginning of a new chapter in the development of H. H. Sheikh Khalifa City."
Mr Mohamed Demerdash, First Assistant to the Housing Minister, said the project plays a key role in addressing the challenge of middle-class housing in Egypt. "Demand for social housing continues to grow led by the youth, new economic growth opportunities and overall economic performance. H. H. Sheikh Khalifa City is a model project that not only addresses middle-class housing but also sets a benchmark for project development and management."
Mr Sameh Muhtadi, Chief Executive Officer, Emaar MisrEmaar Misr, said: "H. H. Sheikh Khalifa City has been specially envisaged to address the growing demand for affordable community housing in Egypt. By providing its development expertise on a non-profit basis, Emaar MisrEmaar Misr is highlighting its commitment to the community and is equally determined to set a new benchmark in integrated community housing."
H. H. Sheikh Khalifa City will be completed in five phases, each featuring about 2,500 units and a community centre. The 2.2 million sq m city is only 6 km from the new American University campus and 28 km from downtown Cairo.
-Ends-
About Emaar Misr for DevelopmentEmaar Misr for Development S.A.E:
Emaar Misr for DevelopmentEmaar Misr for Development S.A.E is the wholly owned subsidiary of the UAE-based Emaar Properties PJSC, a global property developer.
Emaar MisrEmaar Misr is one of the largest foreign direct investor in Egypt's real estate sector with an investment portfolio of EGP 31.67 billion.
EmaarEmaar has identified Egypt as a key market for growth, and has announced four key projects: The EGP 12 billion Uptown Cairo; the EGP 10 billion Marassi, a 1,544-acre tourist and residential destination at Sidi Abdul Rahman; the EGP 6 billion Mivida residential community located at the fifth district; and the EGP 4 billion commercial cum residential development on the Cairo - Alexandria desert road, which also features the largest outdoor shopping and entertainment destinations in the country, Cairo Gate.
EmaarEmaar has also partnered with Abu Dhabi MunicipalityAbu Dhabi Municipality as development manager of the H. H. Sheikh Khalifa City aimed at providing housing for the Egyptian youth.
About Emaar Properties PJSC:
Emaar Properties PJSC, listed on the Dubai Financial Market, is a global property developer with a significant presence world-wide. Besides building residential and commercial properties, the company also has proven competencies in shopping malls & retail, hospitality & leisure, education and healthcare.
For further information, please contact:
Nivine William / Sameh Selim
ASDA'A Burson-Marsteller
Tel: (+202) 33380991
E-mail: n.william@asdaa.com, s.selim@asdaa.com
© Press Release 2009
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