SAK Developments Chairman Ahmed Kadri said the company’s three New Administrative Capital projects are progressing on schedule, with construction rates for residential, commercial, and hotel space advancing as planned, Invest-Gate reports.

The 7,500 sqm “V Hub” commercial project in R7 has completed excavation and is 75% constructed. The concrete structure is finished and facade works will begin for Q3 2024 delivery.

The EGP400 mn, 11,000 sqm V Hub includes ground floor retail, offices, and a hotel. SAK signed brands like Seif Pharmacy, Chili’s, Casper & Gambini, and Pottery Cafe to operate there directly.

The 6,000 sqm “Elite” mixed-use project with Landmark is also 75% built, with concrete and envelop complete. It has ground and seven floors of offices, retail, and hotel spaces to deliver in Q4 2024.

SAK’s “Sueno” residential tower is 85% built. Phase 1 and 2 units are 50% delivered and full handover will be by end-2024 after landscaping.

Kadri said SAK focuses on unique, high-return services. While praising state efforts, he called for activating real estate funds and digitization to attract investors and support the export file.

SAK has over 35 years of developing Delta and has provided contracting and consulting to the youth ministry and other agencies abroad and in Egypt since entering New Capital development six years ago.