SAK aims to achieve EGP 1bn sales of the Sueño project in the New Administrative Capital, according to Ahmed Ezzat, the sales manager.
Ezzat informed Daily News Egypt that the Sueño project’s investment reached EGP 750m.
Furthermore, he noted that the company succeeded in marketing 30% of the project since its launch in November.
The sales manager elaborated that the project is being developed on 11 feddan in R7 at the Administrative Capital with a built-up area of 14.8%, which is lower than the Administrative Capital for Urban Development company’s specifications, and the rest of the area of the project is allocated for services and landscape.
The Sueño project includes 369 units, he noted, elaborating that the company insisted on launching the project in a small area in order to build its brand name first through the project and then expand.
The company is waiting for ministerial approval for the project to begin construction work, expecting its issuance within days, he pointed out.
He projected the beginning of construction process in the first quarter of 2019.
Sueño project includes a commercial area including café, restaurants, administrative offices and shopping mall, he highlighted.
Ezzat noted that the commercial area’s expected sales reached EGP 750m with prices of EGP 50,000 per sqn.
“We plan to complete the whole project’s marketing in April,” Ezzat revealed, adding, “Moreover, the company launched another project called Elite in MU23 in the New Administrative Capital in June, and has completed marketing about 33% of the project.”
The Elite project’s ministerial approval is underway, he said, adding that the project is a mixed-use, and is comprised of medical and commercial units.
Ezzat disclosed that the company will announce a new project outside Cairo in Cityscape Egypt in March.