Cairo Capital Developments plans to deliver the first phase of the Lake West 1 project in Sheikh Zayed City by the end of 2023, despite the challenges of the rising implementation costs, Invest-Gate reports.

Yasser Khalaf, Chairman of Cairo Capital Developments, stated that the company has exerted massive efforts to increase the execution rates in the project. He explained that despite market challenges, they have completed about 90% of this phase, emphasizing their commitment to meeting delivery deadlines, and maintaining customer trust.

He clarified that the remaining work in this phase includes only the landscape works for the first phase and the final part of the infrastructure work. In addition, the company is preparing to start delivering this phase by the end of the current year.

Furthermore, the company has completed about 40% of the extension of this phase. The company aims to implement an integrated project that allows customers to live a life based on quality, luxury, and the availability of services.

Khalaf pointed out that the Lake West project spans 43 acres on the Dahshur Link Road and offers numerous amenities. The company is implementing the project through self-financing with investments worth EGP 1.5 bn.

Notably, there is an extension to the project, in addition to the Lake West 2 and Lake West 3 projects in the same area. These projects are part of a distinguished series of projects implemented by the company in the western Cairo region.