The development will establish a new district in the capital made up of seven communities, each of which will have distinct features and consist of low-to-medium-rise buildings of three-22 storeys. In total, it will offer 30,000 luxury apartments.
Under the development plan, Cairo Heights will also see the construction of a town centre, a private clubhouse, hotels, entertainment, healthcare and retail facilities and mosques, among other facilities and infrastructure. The project will be located at the highest point of downtown Cairo and cover an area of 4 million square metres.
Contractors say the first construction packages on the scheme, excavation and ground levelling works, are due to be released shortly. Los Angeles-based RNL International
is the concept designer; a project manager is still to be appointed.
No details have been made available on the financing of the project, although Emaar has said that fresh funds from a capital increase, through a 1:1 rights issue, will be used to finance expansion plans abroad.
El-Nasr is an affiliate of the government-owned Housing Tourism & Cinema Holding Company