Egypt: SAK Developments executes 3 projects in New Capital

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Egypt - SAK Developments is currently working on three projects in the New Administrative Capital (NAC), which include residential, administrative, commercial, and serviced apartments, according to its Chairperson Ahmed Kadri.

Kadri said that the company has completed the excavation and replacement operations for The V Hub Mall, a project that covers 7,500 sqm with a ground floor and three upper floors. The project consists of a commercial ground floor, two administrative floors, and a floor for serviced apartments, with a total built-up area of more than 11,000 sqm. The project also has a basement garage that spans the entire area. The company has started the concrete structure work of the project.

Another project, Elite, is a partnership between SAK and Landmark. The project has two eight-story buildings that offer administrative, commercial, and branded residential units on an area of 6,000 sqm. The project also has a roof and two basement garages that cover the entire area. The construction of the concrete structure of the buildings has reached 75%. The company has also contracted with a specialized company for the finishing of the facades and is preparing to start the external finishing of the building. The project is expected to be delivered to the customers by the third quarter of 2024, Kadri added.

The third project, Sueño, is the company’s residential project. SAK has already delivered the first and second phases of the project, with a total delivery rate of 50% of the units. The construction of the residential part of the Sueño project has exceeded 85%, and the remaining finishes and landscaping are in progress. The project is scheduled to be fully delivered by the end of 2024, Kadri revealed.

Kadri concluded: “SAK has signed contracts with several brands for The V Hub Mall, such as SEIF Pharmacy, Chili’s restaurants, Casper & Gambini restaurant, Pottery Café, and BBQ Pro, as well as other famous brands, in preparation for the operation of the project.”