Sorouh Developments launched its latest project Entrada, with investments of EGP 9bn, which will be developed over 72 feddans in the New Administrative Capital, according to Walaa Alami, a member of Sorouh’s board of directors.
Alami said that the project includes 3,000 units with spaces ranging between 120 sqm and 220 sqm. The project will be marketed over 10 phases.
She added that the first phase of Entrada in the New Administrative Capital was launched at its announcement event held on Sunday.
Alami explained that the first phase of the project includes 300 units at prices starting from EGP 8,800 per sqm, with payment installations over periods of up to 10 years.
He expects to achieve EGP 600m in sales from the project’s first phase. The company will begin the construction works on the site next month and start implementation within three months and will deliver the first phase within three years.
He pointed out that the project’s units vary between apartments, duplexes, penthouses, and commercial areas, along with a number of services and entertainment activities.
Entrada is a Spanish word meaning gateway. The project’s name reflects its main objective to be a gateway to the future and a new lifestyle. In addition, the actual location of the project lies at the entrance of the New Administrative Capital.
Sorouh is a shareholding company comprised of several Egyptian and Arab investors and has implemented more than 250 real estate projects in Egypt, Turkey, Saudi Arabia, Kuwait, and the United Arab Emirates.