Safwa Urban Development (SUD) plans to begin in early 2020 construction works at “The Pearl,” its latest integrated urban development in New Mansoura, Invest-Gate reports.

The Pearl stretches over 60 acres, featuring a 520-meter beachfront, 2,200 residential units, an extensive commercial mall, a social club, and a five-star hotel, Marketing Director at SUD Ahmed Nabil Amer exclusively revealed on the sidelines of Al Ahram Aqari Real Estate Exhibition on July 25.

The Pearl’s masterplan is being developed by DMA for Design and Engineering Consultancy, Amer noted, pointing out that SUD has applied for ministerial approval for the project.

Meanwhile, he indicated, “After successfully selling all units at the first commercial mall in the New Administrative Capital (NAC), dubbed ‘Capital Hub,’ SUD is launching its fourth commercial spot in the new city, called Capital Hub 2.”

According to Amer, Capital Hub 2 will be the first commercial hub to encompass a free-fly center, alongside 170 shops, and a 4D Cineplex. Interested buyers are required to extend 10% down payment and the remaining amount shall be paid in installments over six years.

More developments in NAC include Capital Heights 1, which spans across 50 acres. As for Capital Heights 2, the company’s second residential project in the new capital, it is being developed over 250,000 square meters and will boast a sports club, along with a 30,000-square-meter commercial hub.

So far, SUD is developing 25 projects in Egypt, with 19 developments already delivered and the remaining are underway. The property developer has two branches in Austria and Paris, through which it has marketed 30% of its sales abroad.