Akam Developments has released its second real estate development in the New Administrative Capital (NAC), dubbed ”Scene7,” targeting EGP 5 bn in sales of the project’s various residential, commercial, and sports properties, Invest-Gate reports.
Scene7 will be developed over 40 acres in the R7 District, incorporating an array of residential units, with areas starting from 68 square meters, in addition to a sports mall and other commercial spots, according to the company’s official statement on September 20.
The announcement came during a launch press conference, where Akam Developments CCO Edrees Mohamed revealed to media people that work commenced on-site, with 400 homes scheduled for delivery by the end of 2021, as part of the project’s first phase.
“Akam Developments has contracted with several international sports academies in various sports for Scene7, including Juventus Cairo. These deals will have a significant added-value to the compound’s sports mall,” Mohamed was quoted as saying, noting that the project’s concept shows the developer’s central research efforts in studying the needs and demands of clients who often face obstacles finding sports services for their children.
The company’s newest mixed-use development comes as part of its expansion plans in NAC, after making debut with its flagship project, “Scenario,” which is an integrated community that will comprise 1,200 houses, varying between apartments and duplexes, with spaces ranging from 136 to 465 square meters.