Cred has recently organized a media tour of its flagship CLM project in Egypt’s New Administrative Capital, Invest-Gate reports.

The project, which spans 43 feddans and is backed by a total investment of EGP 5.6 bn, progresses rapidly, with significant advancements in construction and unit handover.

During the tour, journalists were briefed on the latest developments within CLM, which has already delivered 200 units from the 478 total in the first phase. Cred is preparing to complete the remaining first-phase deliveries, along with 100 additional units from the second phase, by the end of the year.

Construction of the third and fourth phases is also underway, and two additional contracting firms are joining MIG, a sister company, to ensure timely completion.

Cred has allocated more than EGP 800 mn for construction this year, with total investments expected to reach EGP 1 bn by year-end. An additional EGP 1.2 bn is planned for construction in 2025. The company has successfully sold 86% of the project’s units, generating EGP 3.6 bn in sales while retaining 15% of the units for future sales.

During the tour, Eng. Ahmed Mansour, CEO of Cred, emphasized the company’s commitment to transparency and delivering high-quality developments on schedule. “From the start, we have worked with a clear and honest vision,” Mansour said. “We are dedicated to completing all phases of the project while maintaining global standards, as CLM is positioned in one of Egypt’s most important new cities, the New Administrative Capital—a magnet for local and international investors.”