Ora Developers, a real estate firm owned by the Sawiris family, has launched its first mixed-use residential complex, ZED, in the heart of Sheikh Zayed.
Spanning over 165-acre land plot, ZED is three minutes away from Hyper one and is seven minutes away of Arkan Plaza, according to a press release.
The landmark project has amenities including the 65-acre Sheikh Zayed’s main park, pedestrian retail boulevard, hotel, and office buildings.
ZED features mixed-use towers consisting of 20 floors, in addition to residential towers of up to 10 floors, expected to be delivered within four years and three and a half years, respectively.
The 20-storey towers offer two-bedroom apartments stretching over 135 square meters area, three-bedroom units ranging from 172 to 223 square meters, and four-bedroom apartments with a built-up area (BUA) of 250 square meters, at a starting price of EGP 29,000 per square metre.
“The first three floors of the mixed-use towers are set to boast boutique retail, outlets, and clubhouses, while residential units start on the fourth floor,” the press added.
Meanwhile, the 10-storey residential towers feature two-bedroom apartments with a built-up area (BUA) of 97 and 136 square meters, three-bedroom units extending over 160, 181, and 211 square metres, and four-bedroom apartments built over 242 and 237 square metres, at a starting price of EGP 19,000 per square metre.
ZED’s towers will have underground parking, building entrances with concierge, residents’ elevator, furniture elevator, fire escape staircase, and garbage shoot.
The project’s clients will be offered a six-year payment plan that includes 10% down payment, 5% of the unit’s value once the contract is signed, and the remaining 85% will be paid as equal installments.
“Maintenance fees are paid as 7.5% over three years starting one year from signing the contract,” the press noted.
The Egypt-based property developer Ora Developers operates in Pakistan, the UK, Cyprus, and the Caribbean along with its business in the most populous Arab state.