CAIRO: Palm Hills Developments Monday held a press event at several of its new developments in Kattameya in an effort to show the diversity of its projects and also to stress that the real estate giant was thriving in an inclement economy.
Palm Hills, which is already known for its developments in Sixth of October City and along the Red Sea coast, is currently pursuing six different housing development projects in Kattameya, none of them too far from the new American University in Cairo campus.
The company’s flagship development in the area is Palm Hills Kattameya, a sprawling 928,000 square meter plot dedicated to villas and townhouses.
The worksite is abuzz with activity, and though the houses look miles from completion, Palm Hills officials assured the gathered press corps that phase 1 would be finished by mid-2011, with phase 2 finished later that year.
“We built on less than 25 percent of the land to insure there is much more greenery, said Khaled Amin of the architecture department.
Advertising the increased green in its developments seems all part of Palm Hills efforts to brand itself as different and apart from the other developers. The firm appears to have chosen, in its latest developments, to steer clear of the bigger and more expensive houses competition, instead looking to carve a niche market for itself.
But the efforts to promote more green-to-building ratio is only the start. Executives touted the decision to bring Fiber to the Home (FTTH) technologies to each house in every new development.
This fiber technology will more easily allow for high definition televisions, high speed wireless Internet, and a central automated alarm system in each unit.
The developers insisted that the FTTH was an optional feature, though they were eager to push for it in each unit. They’re even offering the technology in each of its preexisting developments.
Several of the new Palm Hills developments directly cater to the new AUC campus. The Palm Village, an 88,000 square meter apartment complex lies practically a stone’s throw from the walls of the campus.
About 95 percent of building frames have been erected on the Palm Village site, with the rest expected to follow shortly. The development is set to include 27 buildings and 468 living units.
Hibba Bilal, who works in Palm Hills’ public relations department noted that many associated with AUC have already begun to show interest in the development, which is scheduled to be completed in 2011.
In seeking a niche for itself, Palm Hills is also looking to diversify its sources of revenue. The company decided, therefore, to build a mall on the grounds of Palm Village.
The mall is set to include a Metro supermarket, a 1,000 seat cinema, and a number of restaurants.