10 October, 2019

Egypt's SAK Developments starts construction of The V project

$18mln mixed-use project is located in Egypt’s New Administrative Capital

Rendering of SAK Developments' The V mixed-use project in Egypt's New Administrative Capital

Rendering of SAK Developments' The V mixed-use project in Egypt's New Administrative Capital

SAK Developments/Handout via Thomson Reuters Projects

10 October 2019
Egyptian developer SAK Developments has started construction of its 300 million Egyptian pounds ($18 million) 'The V' mixed-use project in the New Administrative Capital, the company CEO told Thomson Reuters projects.

Ahmed Kadri Al-Ghetani said that development, spread over an area of about 7,300 square metres, would include 28 retail units, 58 office units, 35 residential units, and leisure facilities.

He said construction would be completed in four years, adding that Cairo-based Imdad is the designer and lead consultant for the project.

SAK Developments is also developing the residential Sueno Compound and co-developing the mixed-use Elite project in the new capital.

(1 US Dollar = 16.28 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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