1. Otis will provide 265 elevators for Mountain View's projects in Egypt. 2. Projects include Mountain View 1.1 and iCity residential compounds. 3. Otis Gen2 elevators emphasize technology, efficiency, and aesthetic design. 4. Partnership fosters advancements in Egypt's real estate landscape. 5. Mountain View aims to create innovative, community-focused living spaces.
The significant contract with Mountain View may enhance Otis's revenue stream and brand presence in growing markets, akin to past expansions that positively influenced OTIS stock, such as agreements with major urban developers.
This news indicates a strategic expansion for Otis in a growing market, potentially increasing sales and enhancing their competitive edge in elevator technology.
Establishing a foothold in Egypt's real estate sector can yield sustained growth, similar to Otis's successful international projects that led to prolonged revenue benefits.
Otis will provide advanced elevator solutions for three innovative communities.
CAIRO, Sept. 8, 2025 /PRNewswire/ -- Otis (NYSE:OTIS) the world's leading elevator and escalator manufacturing, installation and service company, will provide and install 265 Otis Gen2® Prime elevator systems for Mountain View Real Estate Development's residential compound projects, including the extension of Mountain View 1.1 Project in New Cairo, Mountain View iCity in New Cairo, and iCity in 6th of October City.
Gabriele Agostini, Otis Managing Director for Egypt said, "Our advanced elevator solutions will complement Mountain View's sustainable, futuristic vision. We're delighted Mountain View has chosen Otis Gen2 elevator systems for their technology-rich, energy efficient and space-saving design to support these residential and mixed-use projects and to help shape Egypt's real estate landscape."
"Mountain View is dedicated to building communities where happiness and a sense of home are central. Our commitment goes beyond developing conventional urban communities; we have pioneered innovative concepts aimed at enriching daily life experiences. With Otis' reliable and advanced elevator solutions, we are elevating the living standards within our projects. Otis helps us ensure that our communities benefit from world-class technology and engineering excellence," said Maged Moubarak, Chief Projects Officer, Mountain View Real Estate Development.
Otis will install elevators with configurations from four to seven stops. Each elevator is crafted with meticulous attention to detail, featuring high-quality stainless steel finishes for automatic doors and cabins, ensuring a sleek and modern aesthetic that complements the building design.
To learn more about Otis products and services, visit www.otis.com.
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 Connecticut, USA, Otis is 72,000 people strong, including 44,000 field professionals, all committed to manufacturing, installing and maintaining products to meet the diverse needs of our customers and passengers in more than 200 countries and territories. To learn more, visit www.otis.com and follow us on LinkedIn, YouTube, Instagram and Facebook @OtisElevatorCo.
About Mountain View
Mountain View is a leading Egyptian company founded in 2005 with the aim of developing integrated urban communities. The company adopted a unique vision, 'Bringing life to land and spreading happiness around us,' by applying the 'Science of Happiness and Innovation' in its projects and implementing them according to global standards. Over almost 20 years of urban development, Mountain View, within the framework of its mission 'Together building a lighthouse to inspire towards meaningful, happy communities,' has successfully developed more than 20 distinctive projects in three main destinations: West Cairo, East Cairo, and coastal areas overlooking the Red Sea and the Mediterranean. Within the company's plan to expand into other markets, Mountain View announced the launch of "Mountain View KSA" in 2024 in partnership with Maya Real Estate Development and Investment Company and Al Saedan Real Estate Company. Led by a team of experts and distinguished professionals, the company is committed to delivering the latest architectural and engineering designs and innovative concepts, such as "The Lighthouse"—the first place dedicated to community happiness—which operates its distinguished projects, allowing families to "Experience Happiness". To learn more, www.mountainviewegypt.com, and follow us on LinkedIn, Instagram and Facebook
Otis contact:
Ipek Akyildiz
Communications Manager
ipek.akyildiz@otis.com
Mountain View contact:
Riham Saleh
Corporate Communications Sr. Manager
riham.saleh@mountainview-eg.com
M +201002777271
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SOURCE Otis Worldwide Corporation