Egyptian developer Akam Developments had launched Scene 7, its second residential project, in the New Administrative Capital (NAC) at an investment of 3.4 billion Egyptian pounds (215.8 million), the company's managing director said.

Edrees Mohamed told Zawya projects that the four-phase, 40-acre project would include 48 buildings containing 1,600 units and is expected to be completed by 2024.

Cairo-based Yasser Al Beltagy Architects (YBA) is the main consultant and El Dawlia Contracting is the main contractor of Scene 7, Mohamed said, adding that the same firms were contracted for the 4.5 billion pounds ($285.6 million) Scenario, the company's first residential project in the NAC.

He said Akam would deliver 400 units of Scenario by the end of 2021, adding that the company would deliver the entire project in 2022.

1 US Dollar = 15.76 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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