SAK to launch commercial mall in Egypt's New Capital next month

The company plans to begin delivery of the project by the end of 2021

  
Image used for illustrative purpose. People shop at the Mall of Egypt in 6th of October City, on the outskirts of Cairo, Egypt March 13, 2017.

Image used for illustrative purpose. People shop at the Mall of Egypt in 6th of October City, on the outskirts of Cairo, Egypt March 13, 2017.

REUTERS/Amr Abdallah Dalsh

SAK Developments intends to launch a commercial mall in the Sueo project in the New Administrative Capital on 4,800 sqm next month, according to Ahmed Ezzat, sales manager.

Ezzat added that the company has begun marketing the third and final phase of the project, which includes about 100 units with target sales of EGP 200m, expecting to complete the phase’s marketing during the fourth quarter of this year. 

He revealed that 60% of the project’s sales is for non-Egyptians. Additionally, the company plans to be present at the Everest real estate exhibition in Kuwait in October.

Ezzat pointed out that it is planned to begin delivery of the project by the end of 2021, accordingly the company is currently working at full capacity to meet the deadline.

Market performance of coastal projects during the summer season has witnessed relatively stable sales, meanwhile performance of residential projects’ sales increased due to strong demand for housing units of various housing types.

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