Orascom-Elsewedy Consortium Completes 97% of Uptown 6 October’s Utilities

Uptown 6 October Real Estate Development announces that the consortium of Orascom Construction, Hassan Allam Construction, and Elsewedy Electric Group completes 97% of the utility works of the Uptown 6 October project, Invest-Gate reports.

Chairman of Uptown 6 October Real Estate Development, Ahmed Abu Zaid, reveals during a general meeting of project owners and investors that the company sets a new pricing plan that aims to offer land directly to individuals and corporates at flexible installment systems.

Uptown 6 October is situated on 14 mn sqm, Abu Zaid notes, adding that the company launches the first phase of its mini compound “Uptown Quattro” in the mega project with EGP 500 mn in investments.

The top executive says that the first phase of Uptown Quattro includes four houses each consisting of a ground and two floors, and that the phase is slated for delivery in 2024.

He reveals that the company announced its new investment plan that will be applied in the services sector in the coming period, including building an international school, administrative and shopping malls, a social and sports club, and worship houses.

Abu Zaid states that an agreement is made with a major gas and oil company to build fuel and charging stations.

We study multiple investment opportunities to build a social and sports club, an international university, and an international shopping mall, Abu Zaid notes.

Furthermore, the chairman says that an agreement is reached during the general assembly meeting to invite banks to provide direct finance and mortgage to property customers and small developers.

Construction works are set to start within a week, he concludes.