Ahmed Kadri, the Chief Executive Officer of SAK Developments, has announced the company’s plans to invest EGP 300 mn in 2024 to complete the construction of its projects in the New Administrative Capital (NAC), Invest-Gate reports.

These investments align with the company’s established implementation plans. Additionally, SAK Developments is exploring opportunities in East and West Cairo to initiate a new project as part of its expansion plan for the current year.

This expansion coincides with the near completion of all the company’s ongoing projects in the NAC, which have a combined investment value of approximately EGP 2 bn across three different projects.

Kadri stated that the company is currently studying opportunities in the Sheikh Zayed area of West Cairo for a villa area project, as well as a residential project in the Fifth Settlement. SAK Developments has carefully planned its investment strategy for the upcoming period, expressing optimism about the future of the real estate market in Egypt.

Regarding the progress of their projects, Kadri mentioned that the entire first phase of the Sueño residential project in the R7 area of the NAC has been completed. They are now preparing to deliver the entire second phase within the next three months.

In terms of other projects, the excavation and foundation work for The V Hub project, spanning an area of 7,500 sqm with a total building area exceeding 11,000 sqm, have been completed. The concrete structure work has also been finished. The construction progress of the Elite project has surpassed 75%.