SAK Developments Unveils EGP 300 Million Investment Plan for New Administrative Capital Projects
Under the leadership of Chairperson Ahmed Kadri, Egypt's real estate developer SAK Developments revealed its allocation of EGP 300 million for the completion of construction works in its New Administrative Capital (NAC) projects throughout 2024.
Kadri shared insights into the company's strategic vision, stating that they are currently exploring various opportunities in both east and west Cairo, aiming to launch a new project this year.
This initiative coincides with the imminent completion of ongoing projects in the NAC, totaling investments of approximately EGP 2 billion across three distinct ventures.
The chairman highlighted that the company is actively assessing prospects in west Cairo, specifically in the Sheikh Zayed area, where plans are underway for a villa project.
Additionally, SAK Developments is considering another residential project in the Fifth Settlement of New Cairo.
Kadri emphasized the completion of the first phase of the Sueño compound in the NAC's R7 area, with preparations in full swing for the delivery of the entire second phase within the next three months.
SAK Developments is currently engaged in the development of three diverse projects in the NAC, encompassing residential, administrative, and commercial properties, along with serviced apartments.
Notably, the company has a distinctive approach to its commercial units, intending to retain them within its malls.
These commercial spaces will be managed by SAK through a franchise system that includes several contracted brands set to establish a presence in the company's NAC projects.
Source: Daily News Egypt