Wadi Degla Developments launched on February 22 its newest project, Promenade New Cairo, located five minutes away from AUC and at the commercial district of Road 90, Invest-Gate reports.

Promenade New Cairo encompasses an area of 140,000 square meters, comprising more than 1,000 apartments and penthouses, according to a statement. The integrated residential project also features a gymnasium, jogging track, swimming pool, spa, squash courts and car parking, among other utilities.

“Wadi Degla Developments owns a land bank of 8 mn square meters distributed over 20 projects, including some projects we’ve already delivered in the past years,” said Maged Helmy, the Chairman of the Board of Wadi Degla Developments. “In 2017, we intend to launch a number of new residential projects and resort, as we aggressively implement an ambitious expansion strategy to launch a diversified portfolio of new projects in Egypt’s prime destinations, namely in Sokhna, North Coast, Hurghada, Maadi, New Cairo, and 6th of October City. Our strategy builds on the tremendous success we achieved last year, as our contracted sales reached EGP 4 bn. Our sales target for 2017 is to reach as high as EGP 5 bn,” he continued.

Anticipated to be complete by 2021, the total investment of Promenade New Cairo is EGP 1.5 bn.