Gates Developments announces the launch of its latest project in NAC, VENIA project, over an area of 40 acres, with a total investment worth EGP 2bn, Invest-Gate reports.

Mohamed Nabil, Chief commercial associate at Gates Developments, says, “VENIA project is an integrated residential project is located in New Capital’s R7 area.

The project comprises units of various sizes starting from 127 sqm with a built-up area reaching 20% of the total project size and the company intends to deliver the project in 2024.”

He adds that the consultant responsible for the project is the Academic Center for Design and Consultation, chaired by Hammad Abdullah Hammad.

Moreover, the project includes a service area that encompasses a mosque, a commercial mall, a sports club, a social club, green spaces and lakes on an area of 80% of the total size of the project. The project also is located near the embassies district, government district, Green River, and the most important international universities in the NAC.

For his part, Ahmed El Desouky, Sales Director at Gates Developments, says that the project overlooks 4 main streets with a width of 60 sqm and 40 sqm. The units’ sizes reach up to 222 sqm. Moreover, the project includes 3 main gates, a squash court and a football and tennis court, a swimming pool, a mosque, a gym, a health club for men and women, meeting rooms and banquet halls.

El Desouky explains “VENIA project includes a 9,000 sqm commercial mall, a children’s play area, 24-hour security and guarding, CCTV surveillance cameras with the latest international surveillance systems, in addition to a private car garage under buildings, and a track for walking, running and bicycles, which reflects the diversified services that exist in the project.”