EGX-listed real estate developer TAMEER Egypt announced on Tuesday the launch of new commercial project Urban Business Lane (UBL), covering an area of 155,000 square metres (sqm), in New Cairo.
The developer said in a statement that UBL, comprising office and retail units, forms a key element of its UrbanWalk mixed-use project, envisioned as the new downtown for the Fifth Settlement area.
It said UBL introduces a modern work environment under the concept ‘Work Beyond the Walls,’ offering flexibility through integrated office spaces ranging from 63 sqm to 12,000 sqm as an independent building.
Saeed Al-Wazzan, Chairman of TAMEER Egypt, emphasized the project’s innovative approach. “The project reflects our commitment to quality and innovation, creating a business environment inspired by the essence of neighborhoods like Maadi and Zamalek, blended with contemporary design,” he said.
Designed to accommodate local and international businesses, UBL features luxury hotel-like facilities, including meeting rooms, server rooms, housekeeping, and legal services. The project also incorporates outdoor areas with shopping outlets, restaurants, cafes, and a 60,000-sqm central park.
Vice Chairman Wali Doulati emphasised the company’s partnership with renowned global firms to achieve world-class standards for UBL. Notable collaborators include France’s Architecturestudio for design, the UK’s Gillespies for landscaping and Lebanon’s Solidere for the master plan.
Mohamed Younis, Head of the Commercial Sector said the office units total 66,000 sqm while the commercial areas total 16,000 sqm while also benefiting from the shared areas within the central park. He added that the project includes dedicated parking areas for over 3,000 cars.
Project costs and delivery timelines weren’t disclosed.
Notable projects by Tameer in Cairo include Maadi, Sheraton, and the Embassy District. The company has also delivered projects in Libya, Syria, Saudi Arabia, and Niger.
(Writing by SA Kader; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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