Home
/ Residential and commercial property in Egypt / Egyptian low-income housing projects
Egyptian low-income housing projects
Created: May 08, 2010,
modified: Jan 13, 2012,
overall rating: 0.000
ORASCOM DEVELOPMENT HOLDING (ODH): The company's economy housing unit, Orascom Housing Communities (OHC), said it is seeking to buy land in Luxor for a low-income housing project.
OHC is in talks to purchase a 120 feddan plot in the southern city of Luxor and another 560 feddans in the nearby village of Esna, Omar Elhitamy, managing director of the firm, told Reuters.
"There is a huge need and a huge opportunity for this kind of business," he said Wednesday, adding that the firm's flagship Haram City has 11,000 finished units and has sold 9,000 out of the 50-70,000-unit project.
The company revealed last week that it is building a LE2 billion low-income housing project in the southern province of Qena.
More ODH related news came earlier in the week with the company buying a 4.5 per cent stake in Egyptian Resorts under a plan to jointly develop resort property on the Red Sea.
ODH's subsidiary, Orascom Development and Management (ODM), signed a nine-year agreement with Egyptian Resorts (ERC) to develop 2.5 million square metres of ERC property around the existing Sahl Hasheesh resort.
A joint statement from the two companies said development would include a marina, more than 4,000 hotel rooms and 2,500 residential units, expected by the end of 2012.
Al-Ahram Weekly
Your Rating:
Overall rating: 0.000
Totally voted: 0
Comments
Login/Registration
Weather in:
Exchange Rates
1 USD = 16.200 LE
1 EUR = 18.040 LE
News
-
IMF loan expected next month
Apr 22, 2013, rating: 3.000, 3 votes
Egypt may secure an International Monetary Fund loan agreement in about amonth, state news agency MENA reported, quoting "informed" sources ...
-
Egypt received 11 million tourists in 2012 and aims to boost that number to 14 million in 2013.
Jan 22, 2013, rating: 3.000, 2 votes
Egypt received 11 million tourists in 2012 and aims to boost that number to 14 million in 2013.
-
Egypt limits travelers leaving country to US$10,000 in cash
Dec 26, 2012, rating: 3.250, 4 votes
Egypt has banned travelers from carrying more than US$10,000 in foreigncurrency cash in or out of the country ...
-
National Coalition on Climate Change for Egypt is born
Nov 30, 2012, rating: 5.000, 1 votes
The global COP18 conference on climate change opens in Doha Monday.About 17,000 participants from all over the world ...
-
Egyptian family's average annual income is LE25,000, agency reports.
Nov 29, 2012, rating: 5.000, 1 votes
The average annual Egyptian household income during 2010-2011 wasLE25,353, according to the Central Agency for Public Mobilization andStatistics.
-
Judgment for sexual harassment
Nov 14, 2012, rating: 3.600, 5 votes
A man was sentenced to two years in prison and fined LE 2,000 for sexually harassing a woman, an ...
