New Plan Developments has begun constructing its very first project in the New Administrative Capital (NAC), Serrano – an integrated residential compound to be developed with investments valued at EGP 1.5 bn, Invest-Gate reports.

New Plan has obtained the ministerial approval for Serrano’s implementation, the company’s CEO Walid Khalil said in a press statement on May 27, indicating that 90% of the project has been marketed and is planned to be delivered in 2022.

“The company targets to record a total of EGP 4.5 bn in sales of Serrano,” Khalil revealed, highlighting that it has obtained all necessary licenses for the compound.

Comprising 526 fully-finished housing units, with areas ranging from 135 to 302 meters, Serrano is set to be a 15-acre gated modern community that boasts unlimited privacy, absolute serenity, and unrivaled lifestyle within a breathtaking lush landscape that represents 80% of the project’s total area.

Located at NAC’s R7 residential neighborhood, the compound will feature amenities that cater to the clients’ various needs, including but not limited to a shopping mall, water features, running and walking tracks, top-notch fine dining restaurants, in addition to a gym, a kids area, a library, and a spa.

The Egypt-based real estate company is currently developing two other projects in NAC’s R7 district, namely ELEVEN – an administrative and commercial building – and its second residential project, ATIKA.