By: Abdullah Bedeir
Cairo – Mubasher: Sorouh Developments is looking to pump investments worth EGP 2 billion into its residential project Entrada in the New Administrative Capital during 2019.
The Egyptian real estate firm will invest EGP 6 billion in the project in the next three years within the framework of total investments worth EGP 10 billion, chairman Ahmed El Tayebi told Mubasher.
Spanning over 75 acres, the project will feature nearly 3,000 residential units, El Tayebi added.
The units will be delivered over 10 phases; the first phase will cover selling 300 units at a value of EGP 600 million, he highlighted, pointing out that the project will be executed in four years.
The company has launched the first phase of Entrada located in R-7 area at the new capital in April.
He also noted that the company is planning to launch a new project in the new capital under the name of “Capital Club” with EGP 4 billion in investments in the banks' zone.
The company will also build Commercial Strip mall, designed by the international consulting office 35 l, El Tayebi said.
Sorouh Developments is set to participate in Cityscape Global 2018, starting 2 to 4 October at the Dubai World Trade Centre, with the three projects.
