Egypt’s Sorouh Developments intends to inject investments worth EGP 1.5 bn in Entrada Avenue Mall this year, Invest-Gate reports.

Walaa Alami, the company’s board member, told Invest-Gate on March 30 that Entrada Avenue Mall is the commercial part of Entrada compound, which includes five commercial buildings and medical clinics with a total area of 30,000 square meters, overlooking Expo City in the New Administrative Capital (NAC).

He noted that Sorouh has achieved EGP 1.5 bn in sales of Entrada, selling around 27% of the compound’s total units. Covering 72 acres, the project will be developed with total investments of EGP 10 bn, comprising 3,000 residential units inspired by the European architecture.

Alami said the project will be developed on one phase over four years, noting that the company has obtained ministerial approval for its master plan.

Meanwhile, the board member further revealed that Sorouh plans to launch an 8,000-square-meter commercial project in NAC soon and is being designed by RFA-raeffahmi architects. The company aims to start implementing the project in the third quarter of this year, he added.

In addition, he unveiled that Sorouh is eyeing two projects in the North Coast and Ain Sokhna to diversify its real estate portfolio, and is currently negotiating with the landowners for partnering in their development.