Since its inception two years ago, Egypt-based Sorouh Developments registered EGP 2.5 bn worth of sales from its flagship project in the New Administrative Capital (NAC), or “Entrada,” Invest-Gate reports.
The announcement came during the inauguration of the company’s New Cairo sales center, where Sorouh Developments Chairman Hany El Bendary indicated that construction work at the EGP 10 bn project is accelerating at a fast pace, according to the press release on August 16.
Sorouh Developments has already inked multiple deals to commence work on Entrada’s phase I of residential units, reflecting investments of more than EGP 500 mn out of the EGP 1 bn allocated to the construction contracts, El Bendary further revealed.
This falls as part of the commitment to meet the project’s delivery dates, the chairman added, underscoring that the developer’s second project in NAC is underway, called “Citadel,” which will see several administrative and commercial buildings that feature an array of recreational and service areas.
As for the new sales office, El Bendary noted that it offers a unique selling experience for potential customers, using different multimedia and simulation technologies to allow home buyers to conduct in-person visits to numerous properties virtually, including virtual walkthroughs and 3D mapping.
Encompassing over 3,000 residential units, ranging in size from 120 to 220 square meters, Entrada is nestled in R7 District, at the heart of the NAC’s Central Business District (CBD), coming with various home modules such as apartments and duplexes.