Egypt - Akam Developments launched the third phase of the Scene 7 project, the company’s second project and first global sports compound at the New Administrative Capital (NAC), Daily News cited Managing Director Edrees Mohamed.

Spread over an area of 40 acres, the compound is located in the R7 area of the NAC.

Launching the third phase aims at providing a different real estate product with total investments worth EGP 4.5 billion.

The Scene 7 project aims to turn it into the first sports compound in the NAC comprised of a group of the largest international and local sports academies. It is expected that there will be 11 academies for different sports.

Accordingly, the real estate developer has contracted with Italy’s Juventus Academy to manage a football academy, besides contracting with the Winners Tennis Academy and ElBorolossy Squash Academy.

Since its launch in the last quarter of 2020, Scene 7 has witnessed great demand from customers, seeing sales exceed EGP 1.2 billion within nine months of its launch, Mohamed said. He added that the company is targeting EGP 2.2 billion in sales in the current year.

 

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