Hana Raouf, CEO of Akadia Developments, sells 60% of its second project in the New Administrative Capital’s CBD district, Pagoda Business Tower, Invest-Gate reports.
Raouf reveals that the company’s investments amount to EGP 1 bn, adding that sales of the first project, Pagoda Business Complex, reach EGP 400 mn for 90% of the project’s units within four months of the launch.
She notes that sales of the second project exceeded EGP 500 mn for 60% of the project.
Raouf states that the company’s board of directors is studying injecting new investments into new areas, most probably in the North Coast or Ain Sokhna.
Akadia is planning to launch coastal projects in the next five years, creating over 1,500 jobs, she remarks.
Furthermore, Raouf unveils that Pagoda Business Complex is planned to be delivered by the end of 2023, while the handover of Pagoda Business Tower will take place by the end of 2025.