Ahmed Gamal, the CEO of Arqa Developments, has confirmed that the company achieved sales in 2023 that exceeded 120% of their targeted goals, Invest-Gate reports.

As a result, Arqa Developments decided to raise prices before the end of the year.

Looking ahead to 2024, Arqa Developments is preparing to launch several new projects with a total investment of EGP 3 bn. The company’s first project will be an entertainment commercial mall in 6th of October City, which will feature administrative offices and specialized medical clinics.

Following this, Arqa Developments plans to launch additional projects, including residential developments, in the heart of Sheikh Zayed City, responding to increased demand in that area. The company aims to select unique locations for these projects and surprise customers with additional features that will be revealed in due course.

Regarding the “I Business Park” towers project in the New Administrative Capital (NAC), Gamal stated that construction is progressing according to schedule. The reinforced cladding and concrete work for the towers have been completed, and the garages for the four administrative towers are fully finished up to the first floor. Currently, work is underway on the second floor. Arqa Developments expects to achieve significant progress on the project during the current year, adhering to the planned timetable.