Ahmed Kadri, Chief Executive Officer of SAK Developments, stated that the company began its first projects in the New Administrative Capital (NAC) in 2018 and launched three others over five years, Invest-Gate reports.

The projects include Elite, which is an administrative, commercial, and medical development situated in the MU23 area, along with two residential projects named Sueño. Additionally, The V Hub is a commercial, administrative, medical, and hotel project located in the R7 District.

Kadri highlighted that the construction phases of these three projects are progressing in a well-balanced manner, adhering to the established timetable. Furthermore, the excavation and replacement operations in The V Hub project have been completed on an area of 7,500 sqm with ground and three floors, and preparations have been made for the concrete construction phase.

As for the Elite project, on an area of 6,000 sqm, with ground and seven floors, 70% of the construction work has been reached and the concrete structure and buildings have been fully completed. Moreover, a private company has been contracted to finish the facades, and the external finishing process of the building is now underway to begin delivery during the third quarter of 2024.

Regarding the third project, Sueño, Kadri said: “The delivery stages of the first and second phases began 3 months ago, and we have reached 50% of the delivery stages, with a total number of six buildings out of 12 buildings, and finishing work is underway in the remaining stages of the project”.