Egypt-based Akam Developments has announced plans to launch its second residential project in the New Administrative Capital (NAC), following the success it garnered from its previously released project, Scenario, Invest-Gate reports.
The developer has already acquired a 40-acre plot in NAC’s R7 neighborhood, the same district where Scenario is located, Marketing Communications Manager at Akam Developments Omar Shawkat told Invest-Gate on the sidelines of Cityscape Egypt’s final day on March 30.
Meanwhile, Akam also intends to acquire a land plot in the North Coast, but is still deciding upon its size and exact location, Shawkat revealed, adding that more details will be uncovered soon.
As for Scenario’s latest updates, the project’s first and second phases, out of the total four phases, have been successfully marketed. In addition, the third phase has been launched during Cityscape Egypt, from March 27 to 30, he noted.
Stretching over 40 acres, Scenario is an integrated community that will comprise 1,200 housing units, varying between apartments and duplexes with spaces ranging from 136 to 465 square meters. Additionally, the compound includes a commercial area that will soon be promoted.