Emaar Misr’s Uptown Cairo records overwhelming investor response

Cairo, Egypt, August 12, 2007: Emaar Misr, the wholly-owned subsidiary of Emaar Properties PJSC, has recorded overwhelming investor response to the public launch of Uptown Cairo, its pioneering master-planned development located in Mokkattam Hills. More than 2,500 potential investors attended the inaugural day of the sale held at the Uptown Cairo sales centre, the largest of its kind in the world. 

“The Reyna and Isadore villas as well as the Aurora apartments in the first phase of Uptown Cairo have been sold out,” said Mr Sameh Muhtadi, Chief Executive Officer, Emaar Misr for Development S.A.E. “There has also been strong investor response for the Eleva semi-detached villas and following the encouraging sales response, we released the villas in Phase 2 during the launch, all of which have also been sold out.”

He added: “The overwhelming investor response to homes at Uptown Cairo signals the robust nature and growth potential offered by the Egyptian property market. The fully integrated lifestyle community that Emaar offers together with our world-class build quality is also a significant draw. Uptown Cairo homes come in Mediterranean, Spanish and Tuscan architectural styles, have generous floor plans and are set in landscaped surroundings.” 

The sales centre with actual models of the homes brings a new dimension to the property sector of Egypt where potential investors have the opportunity to assess the type of unit and gain a clear insight of the finishes even before completion.

The EGP 12 billion (AED 7.7 billion, US$2.1 billion) Uptown Cairo is a mixed-use development spread over 4 million sq metres and creates a new township 200 metres above sea level. Uptown Cairo features residences, Uptown Business Park, schools, Uptown Mall, restaurants, medical centres, Uptown Spa and leisure facilities including the Uptown Golf Club with an 18-hole golf course, tennis courts and a soccer field.

Potential buyers can visit Uptown Cairo Sales Centre at Emaar Misr for Development S.A.E - Mokkattam Hills. They can also visit www.emaar.com/misr or call (+202) 16116, for more details.