Squares Developments has announced the launch of its third project, Sage Lakes Residence, in the R8 district of the New Capital, with total investments of EGP 15bn. The new development reflects the company’s confidence in Egypt’s real estate market and supports its expansion strategy to diversify its investment portfolio to EGP 22bn, Invest-Gate reports.
Eng. Talaat Gorgous, Chairman of Squares Developments, said the New Capital continues to attract major investors thanks to its advanced infrastructure, urban planning, and government support. He added that Sage Lakes Residence represents a new milestone for the company, combining a strategic location, innovative design, and strong partnerships. The project, he noted, reinforces the company’s reputation for credibility and quality, while future plans include expansion into the North Coast.
Mr. Haron Abd Elghany, Chief Commercial Officer at Squares Developments, explained that Sage Lakes Residence offers a mix of studios, duplexes, and villas up to 258 sqm, with a dedicated villas zone surrounding artificial lakes. The compound also features a mosque and church, embodying the state’s vision of unity and coexistence. In addition, it includes commercial spaces with administrative offices, clinics, and essential family services, as well as premium amenities such as rooftop clubhouses, saunas, jacuzzis, and extensive parking areas.
Abd Elghany stated that the first phase is being launched with a 2.5% down payment and installment plans up to 10 years, designed to ensure both client satisfaction and financial balance. Market research guided the company’s flexible financing plans, which align with customer needs. He emphasized that Squares Developments aims to capitalize on its strong financial position and credibility to expand further, particularly as clients increasingly value reliability and execution quality.
Eng. Hany Gorgous, Vice Chairman of Squares Developments, said the project spans 33 acres in a prime R8 location, facing a large service zone and close to a sports club and a university. The company is collaborating with Hafez Consultants and the International Project Management Company to ensure top-tier design and execution standards that align with sustainability and innovation goals.
Eng. Mina Maher, Board Member of Squares Developments, revealed that the company targets EGP 5bn in sales from the project’s first phase, with construction set to begin in early 2026. Eng. Mohamed Hafez, Chairman of Hafez Consultants, added that the project’s design combines aesthetic excellence with functional efficiency, while Mr. Tarek Fahmy, General Manager of the International Project Management Company, confirmed that his firm will oversee management and operations to deliver a fully integrated, high-quality development.