Tatweer Misr Chooses Otis to Bring Smart Vertical Mobility Solutions to Its Urban Communities
Otis (NYSE: OTIS), the global leader in elevator manufacturing, has secured a major contract with Egyptian real estate developer Tatweer Misr to supply and install 1,250 elevators across six projects over six years. The collaboration represents one of the largest elevator orders ever received in Otis's regional operations.
The agreement will integrate Otis's Gen2® elevator systems, known for energy efficiency and superior ride quality, into Tatweer Misr's developments including IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields, and Rivers. These projects span across Egypt's strategic locations from the Red Sea to the North Coast and Cairo, focusing on sustainable and smart urban communities.
Otis (NYSE: OTIS), leader mondiale nella produzione di ascensori, ha ottenuto un importante contratto con lo sviluppatore immobiliare egiziano Tatweer Misr per fornire e installare 1.250 ascensori in sei progetti distribuiti su sei anni. Questa collaborazione rappresenta uno dei più grandi ordini di ascensori mai ricevuti dalle operazioni regionali di Otis.
L'accordo prevede l'integrazione dei sistemi di ascensori Gen2® di Otis, noti per l'efficienza energetica e la qualità superiore della corsa, negli sviluppi di Tatweer Misr tra cui IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields e Rivers. Questi progetti si estendono in località strategiche dell'Egitto, dal Mar Rosso alla Costa Settentrionale fino al Cairo, con un focus su comunità urbane sostenibili e intelligenti.
Otis (NYSE: OTIS), líder mundial en la fabricación de ascensores, ha asegurado un contrato importante con el desarrollador inmobiliario egipcio Tatweer Misr para suministrar e instalar 1.250 ascensores en seis proyectos a lo largo de seis años. Esta colaboración representa uno de los mayores pedidos de ascensores recibidos en las operaciones regionales de Otis.
El acuerdo integrará los sistemas de ascensores Gen2® de Otis, reconocidos por su eficiencia energética y calidad superior de viaje, en los desarrollos de Tatweer Misr, incluyendo IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields y Rivers. Estos proyectos abarcan ubicaciones estratégicas en Egipto, desde el Mar Rojo hasta la Costa Norte y El Cairo, con un enfoque en comunidades urbanas sostenibles e inteligentes.
Otis (NYSE: OTIS)는 엘리베이터 제조 분야의 세계적인 선두주자로, 이집트 부동산 개발업체 Tatweer Misr와 6년 동안 6개 프로젝트에 걸쳐 1,250대의 엘리베이터를 공급 및 설치하는 대규모 계약을 체결했습니다. 이번 협력은 Otis의 지역 운영 중 가장 큰 엘리베이터 주문 중 하나입니다.
이번 계약을 통해 Otis의 Gen2® 엘리베이터 시스템이 Tatweer Misr의 IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields, Rivers 등 개발 프로젝트에 통합될 예정이며, 이 시스템은 에너지 효율성과 우수한 승차감을 자랑합니다. 이 프로젝트들은 홍해에서 북부 해안과 카이로에 이르는 이집트의 전략적 위치에 걸쳐 있으며, 지속 가능하고 스마트한 도시 커뮤니티를 목표로 하고 있습니다.
Otis (NYSE : OTIS), leader mondial dans la fabrication d'ascenseurs, a obtenu un contrat majeur avec le promoteur immobilier égyptien Tatweer Misr pour fournir et installer 1 250 ascenseurs répartis sur six projets sur une période de six ans. Cette collaboration représente l'une des plus grandes commandes d'ascenseurs jamais reçues dans les opérations régionales d'Otis.
L'accord prévoit l'intégration des systèmes d'ascenseurs Gen2® d'Otis, reconnus pour leur efficacité énergétique et leur qualité de trajet supérieure, dans les développements de Tatweer Misr, notamment IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields et Rivers. Ces projets couvrent des emplacements stratégiques en Égypte, de la mer Rouge à la côte nord et au Caire, en mettant l'accent sur des communautés urbaines durables et intelligentes.
Otis (NYSE: OTIS), der weltweit führende Hersteller von Aufzügen, hat einen bedeutenden Vertrag mit dem ägyptischen Immobilienentwickler Tatweer Misr abgeschlossen, um 1.250 Aufzüge in sechs Projekten über einen Zeitraum von sechs Jahren zu liefern und zu installieren. Diese Zusammenarbeit stellt einen der größten Aufzugsaufträge dar, die Otis in seiner regionalen Geschäftstätigkeit je erhalten hat.
Die Vereinbarung sieht vor, dass Otis' Gen2® Aufzugsysteme, bekannt für Energieeffizienz und überlegene Fahrqualität, in die Entwicklungen von Tatweer Misr integriert werden, darunter IL Monte Galala, Fouka Bay, D-Bay, Salt, Bloomfields und Rivers. Diese Projekte erstrecken sich über strategische Standorte in Ägypten, vom Roten Meer bis zur Nordküste und Kairo, mit Fokus auf nachhaltige und intelligente urbane Gemeinschaften.
- None.
- Long implementation timeline of six years may expose to execution risks
- Heavy dependence on single customer in Egyptian market
Insights
Otis secures major Egyptian contract for 1,250 elevators over six years, representing significant business expansion in a growing market.
This contract with Tatweer Misr represents a substantial commercial win for Otis in the Egyptian market. With 1,250 elevators to be installed across six development projects over six years, this qualifies as one of the largest elevator orders Otis has ever received in the Iberia, Africa, and Middle East region, according to João Penedo, Otis's Senior VP for the region.
The scale of this agreement is particularly notable as it establishes a long-term revenue stream for Otis while expanding its footprint in Egypt's growing real estate sector. Egypt continues to see significant urban development, and Tatweer Misr's portfolio spans multiple strategic locations including Red Sea and North Coast developments, plus residential communities in East and West Cairo.
From a business perspective, this deal demonstrates Otis's ability to secure major contracts in developing markets, leveraging its Gen2® elevator systems which offer energy efficiency and space-saving designs—features increasingly important in modern construction. The early-stage collaboration mentioned by Otis Egypt's Managing Director indicates Otis is positioned advantageously at the design phase of these developments.
Beyond the immediate contract value, this partnership likely includes future service and maintenance agreements, creating additional long-term revenue opportunities given Otis's business model of installation followed by ongoing service contracts. With Otis already maintaining approximately 2.4 million customer units worldwide, this contract strengthens their dominant position in elevator servicing, which typically offers higher margins than initial installation.
Since its establishment in 2014, Tatweer Misr has been at the forefront of real estate development in
"At Tatweer Misr, innovation is the driving force behind every decision we make. From master planning and design to construction and community building, we are committed to creating future-proof, smart developments that reshape the real estate landscape in
He added: "Working with a global leader like Otis reflects this vision, bringing cutting-edge, intelligent mobility solutions that not only enhance operational efficiency but also enrich the everyday lives of our residents. This collaboration aligns seamlessly with our core values of innovation, sustainability, and quality, reinforcing our mission to develop integrated, sustainable and smart urban communities that deliver long-term value to our clients, investors, and stakeholders."
Eng. Baher Ayoub, Senior Vice President, CEO Projects & Board Member at Tatweer Misr, stated: "We are proud to engage with Otis, as their advanced vertical mobility solutions align perfectly with Tatweer Misr's construction philosophy and development standards. From a technical and execution perspective, this collaboration enhances overall project efficiency, streamlines on-site operations, and reinforces our uncompromising commitment to safety; a core pillar embedded in every stage of our construction process."
João Penedo, Otis's Senior Vice President for Iberia,
Mr. Gabriele Agostini, Managing Director at Otis Egypt, said: "We bring our expertise and engineering excellence to each project from the very beginning. Working with the Tatweer Misr team from the earliest design phase helps us deliver the best solutions for our customers and passengers. We look forward to achieving the ambitious vision for these projects and working closely with Tatweer Misr to provide safe, innovative, and high-quality vertical mobility solutions as they continue to redefine
This strategic collaboration between Tatweer Misr and Otis not only aims to enhance the quality of urban living in
About Tatweer
Established in 2014, Tatweer Misr is a leading Egyptian shareholding company with a vertically integrated business model spanning multiple development sectors. Driven by a visionary approach, the company is committed to developing sustainable, smart urban communities that set new benchmarks in real estate development. Innovation lies at the heart of Tatweer Misr's DNA, shaping every facet of the business, from master planning and design to construction, smart infrastructure, and community living. This commitment is further strengthened by the company's alignment with global sustainability practices and ESG principles, ensuring responsible, future-focused growth. Tatweer Misr brings this vision to life through a portfolio of six iconic projects that have established its footprint across
About Otis
Otis gives people freedom to connect and thrive in a taller, faster, smarter world. The global leader in the manufacture, installation and servicing of elevators and escalators, we move 2.4 billion people a day and maintain approximately 2.4 million customer units worldwide – the industry's largest Service portfolio. You'll find us in the world's most iconic structures, as well as residential and commercial buildings, transportation hubs and everywhere people are on the move. Headquartered in
Media Contacts:
Otis: Noemi Fernández Castro: noemi.fernandezcastro@otis.com
Tatweer: Nada Hammad: nada.hammad@tatweermisr.com
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SOURCE Otis Worldwide Corporation
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