Egypt's Orascom Development plans to deliver Phase 1 of O West, its fully integrated township project, located in 6th of October City, West Cairo, by the third quarter of 2023, a top company official said.
O West's CEO Tarek Kamel told Zawya that the first phase of the 1,000-acre development would be delivered by September 2023.
"Phase 1 entails the delivery of 445 villas, currently under construction, and 69 residential buildings, which we expect to begin construction before the end of 2021," he said.
The project will eventually house more than 10,000 residential units.
He said the company has signed three agreements to set up five schools with Kent College UK, and local operators Cairo for Investment and Real Estate Development (CIRA) and Dr Nermine Ismail Schools (NIS).
“September 2021 will see the opening of O West’s first school, and four additional schools will be fully operational by September 2022,” he said.
Kamel said the company is negotiations with three consortiums to operate the 50-acre O West sports club.
He didn't share any detail about project-related investments or costs but said O West is comparable to the company's largest operating asset El Gouna.
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
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