Sky Abu Dhabi Developments (Sky AD. Developments), a subsidiary of the UAE-based Diamond Group, is planning to launch three new projects in Egypt by 2023, the company's CCO said. 

Mostafa Salah told Zawya Projects that the three projects would be located in East Cairo, New Administrative Capital, and the North Coast on 50 to 100-acre plots but declined to elaborate. 

In February, the company had launched its first project in Egypt, the 4 billion Egyptian pounds ($255 million) ‘Residence Eight’ project, in the NAC. 

He added that the company has achieved sales worth 700 million pounds ($45 million) from its flagship NAC project out of the 1.5 billion pounds ($96 million) target set for 2021. 

(1 US Dollar = 15.69 Egyptian Pounds)  

(Reporting by Eman Hamed; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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