Egypt’s SAK to deliver three projects in the New Administrative Capital by 2025

Egypt’s SAK to deliver three projects in the New Administrative Capital by 2025

Egyptian developer SAK Developments expects to deliver residential, commercial and hospitality projects in the New Administrative Capital (NAC) over the next two years, the company's chairman said.

Ahmed Kadri told Zawya Projects that they would pump 300 million Egyptian pounds ($9.7 million) into construction works in 2024.

He said they have completed 85 percent of the company’s 12-building residential project Sueño and delivered more than 50 percent of the units four months ago.

Kadri said work on the remaining units as well as finishing and landscaping will be completed by the end of 2024.

He disclosed that they have completed the excavation works in commercial project EGP500 million ($16 million) ‘The V Hub’, which is built on an area of 7,500 square metres (sqm).

The four-storey project comprises of commercial ground floor, two offices floors and a hospitality floor, with a total built-up area exceeding 11,000 sqm.

Kadri said they are planning to deliver The V Hub project in 2025.

He said they have completed 75 percent of ‘Elite’ hospitality project including the concrete structure and buildings and are planning to deliver it during the third quarter of 2024.

The eight-storey Elite, spread over an area of 6,000 sqm, is a partnership between SAK and Landmark and includes