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|17 March, 2019

Egypt's SAK Developments eyes $28.78mln sales in 2019

The company will also launch an administrative project over an area of 5,500 metres in the New Administrative Capital

Image used for illustrative purpose. Heliopolis district in Cairo.

Image used for illustrative purpose. Heliopolis district in Cairo.

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Cairo – Mubasher: Egypt’s SAK Developments plans to achieve EGP 500 million ($28.78 million) in sales in 2019, versus EGP 150 million ($8.63 million) in 2018.

Sales are expected to increase by EGP 200 million during Cityscape Egypt Conference, the Egyptian company’s CEO said in a statement on Sunday.

SAK Developments has a residential project and a commercial one in the New Administrative Capital.

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Spanning over an area of 11 acres, the 12-building Sueno residential compound will be launched in the R7 area in the New Administrative Capital, Ahmed Kadry El-Ghitany added.

The building area represents 15% of the total area of the project, he added, noting that the project includes stores, restaurants, entertainment areas, and an amusement park.

Construction in the project will start in 2019 and last for three years, El-Ghitany indicated.

SAK Developments will also launch an administrative project called Elite over an area of 5,500 metres in the New Administrative Capital.

Source: Mubasher

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