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Sky AD. Developments, a subsidiary of Abu Dhabi-based Diamond Group, will announce new projects in the coastal cities and on the North Coast in the coming months, the company CEO said.
Abdelrahman Agami told Zawya Projects that the investment outlay for the cosatal projects would be 3 billion Egyptian pounds ($98 million))without elaborating further.
On Wednesday, the developer had launched EGP 8 billion ($261 million) Bluetree, its third real estate project in Egypt.
The company’s total investments in its three projects - Residence 8, Capital Avenue and Bluetree – currently stands at EGP 12 billion ($392 million), Agami said.
Residence Eight and Capital Avenue represent total investment of EGP 4 billion ($130 million).
(1 US Dollar = 30.68 Egyptian Pounds)
(Reporting by Marwa Abo Almajd; Editing by Anoop Menon)
