AFG launches Sky Bridge complex in Egypt's New Capital

Chairperson of AFG Salah El-Din El-Hilali said the project’s investment cost is worth $44.51mln

  
An aerial view of roads and the construction site in the New Administrative Capital (NAC) east of Cairo is pictured through the window of a plane, Egypt April 10, 2021.

An aerial view of roads and the construction site in the New Administrative Capital (NAC) east of Cairo is pictured through the window of a plane, Egypt April 10, 2021.

REUTERS/Amr Abdallah Dalsh

AlFath Group (AFG) has launched its latest project, Sky Bridge Signature Hub, in the downtown area at the New Administrative Capital (NAC).

In a press conference, Chairperson of AFG Salah El-Din El-Hilali said the project’s investment cost is worth EGP 700m.

El-Hilali added that the company decided to invest in the NAC because it is the largest project currently being developed in the Middle East and one of the largest national projects in Egypt.

Sky Bridge is a commercial, administrative, and hospitality complex built on 4 feddan. The complex features four basements, two commercial floors, and 12 administrative floors, in addition to a hotel. The commercial and administrative units have different areas starting from 35 sqm, while areas of the serviced apartments (branded residences) start from 56 sqm.

Sherif Al Ghazaly, CCO of AFG, says that the group has offered flexible payment plans for clients, including 10% down payment and installments of up to seven years, 15% down payment and installment over eight years, 25% down payment and installment over nine years, and 30% down payment and installment over 10 years.

El Ghazaly added that all units are set to be delivered after three years, with EGP 300m expected sales in the first phase.

The company has contracted a group of major consulting companies in the Egyptian and Arab market to implement the complex, notably DCI for design and MRB for operation. Additionally, AFG has also contracted FACIL Design Hospitality to operate and manage the hotel.

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