Solidere International, in collaboration with Sodic, started with the implementation of two projects in Egypt. The two companies had announced earlier the launch of their projects: WESTOWN in the Sheikh Zayed neighborhood along the Cairo-Alexandria desert road, and EASTOWN in the Kattameya area of New Cairo. Sodic has secured the Egyptian government's approval on the masterplan put in place by Solidere International for each of the two projects. This comes as Sodic has hired the services of the international consulting firm "Dar Al-Handasah Shair and Partners" to provide the infrastructure design of which the preliminary stages have been completed with actual work scheduled to start in the beginning of 2010.
Both EASTOWN and WESTOWN will form distinguished and lively multi-faceted city centers, providing residential areas, office and commercial space, as well as shopping and entertainment centers. The projects are also adorned with public spaces and landscaped parks in accordance to the latest sustainable urban planning practices and environmental standards Solidere International is keen on implementing. The master plan will also provide for a modern city fabric with avenues and squares surrounding buildings in a synchronized manner. This will effectively place WESTOWN and EASTOWN as the hub of activity for all the residential projects and educational centers which have started to relocate to the Sheikh Zayed and Kattameya regions.
The launch of the first two WESTOWN projects within this grand development plan was announced on Sunday December 6th, 2009 at the Four Seasons Hotel at Nile Plaza. "Forty West", a mixed use facility, and "The Polygon", a business center, form the first phase of the WESTOWN development project. This announcement comes at a time that confirms that Solidere's and Sodic's projects in Egypt are continuing as more launch announcements for projects are expected in the near future.
"Forty West" extends over an area of 35,000 meters squared with a built up area of around 83,000 meters squared. It includes 175 upscale residential apartments, a luxury hotel, a series of distinguished restaurants and cafes as well as retail shops and entertainment and cultural centers. "Forty West" provides the perfect environment for a chic social lifestyle amid green spaces which will turn it into a unique destination in Egypt as it combines the liveliness of the city and the calm of a residential neighborhood. Solidere International and Sodic will also ensure that their standards of excellence carry on to the maintenance of the buildings and gardens in Forty West as well as its security needs by providing it with their own top notch property management services.
World renowned "Machado and Silvetti Associates" makes its exceptional presence felt through the unique architectural design of Forty West which meets the highest creative and precision standards in the industry going hand in hand with the distinctive touch of Egyptian interior designers "Eklego". The project provides residents with an atmosphere of leisure and comfort through facilities and services that allow for the enjoyment of the luster of Mediterranean city life, putting WESTOWN on par with famed upscale neighborhoods in Barcelona, Rome, and Beirut.
"The Polygon's" design was entrusted to the international award winning British firm "Wilkinson Eyre Architects". The business center will include offices of different sizes and versatile layouts customized to meet the needs of a twenty first century work space. The center spreads over an area of about 33,000 meters squared, 58% of which are dedicated to green and public spaces. The Polygon's built up area will reach 86,000 meters squared including 11 buildings out of which a Business hotel. This area will be located within close proximity to Forty West. The announcement of the launch of these two projects comes as part of Solidere International's continuous activities in the field of real estate development in the Arab world, mainly in the United Arab Emirates and the Kingdom of Saudi Arabia, with planned projects in North Africa, Europe and the Mediterranean region. Solidere International provides comprehensive services in the areas of urban planning, development, property management, finance and marketing building further on the company's accomplishments in the fields of city planning and managing projects of grand scale.
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About Sodic
SODIC is one of Egypt's leading real estate development companies and is currently developing a number of large and diversified projects. SODIC's philosophy of transforming the way people live and work is embodied in projects like the award-winning high-end residential development Allegria, and Westown and Eastown (developed in collaboration with Solidere International) two large scale city centres which promise to be the new urban hubs of Cairo's western and eastern suburbs respectively. All of SODIC's projects involve partnerships with global architects, master-planners, engineers, designers and experts in many other fields. SODIC is listed on the Cairo Stock Exchange (OCDI.CA) and is a constituent of CASE 30 index. For more information please visit www.sodic.com.
About Solidere International
Solidere was incorporated as a Lebanese joint stock company in 1994 originally with the goal of redeveloping the Beirut city centre and has since expanded, now aiming to create the finest city centres in the Middle East and beyond. Solidere International is a leading developer with outstanding design, sales, marketing and property management capabilities and international experience. In Egypt, Solidere International has entered into an exclusive agreement with SODIC to co-develop Eastown and Westown.
About Westown
Westown is master-planned to be the urban heart of west Cairo. Located on Km 38 Cairo-Alexandria Desert Road, it is built on 1.2 million square metres of land, and has a built up area (BUA) of approximately 1.8 million square metres. With an estimated EGP 15 billion in investment over the next ten years, this mixed use urban centre is forecasted to have a population of 60,000. Westown will offer a wide range of residential units, state-of-the-art offices, over seven hotels, in addition to world class retail and entertainment all in a pedestrian friendly environment.
© Press Release 2009
