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Akam Developments plans EGP 1.22bn investments in new capital in 2021

Akam Developments plans EGP 1.22bn investments in new capital in 2021
Akam has achieved EGP 5 billion in sales from its projects in the new capital

By: Abdullah Bedeir 

Cairo - Mubasher: Akam Developments plans to invest EGP 1.22 billion in two projects in the New Administrative Capital by the end of 2021. 

So far, the property developer has achieved EGP 5 billion in sales from its projects in the new capital, the Managing Director, Edris Mohamed, said in a press conference on Monday.

Mohamed revealed that two residential projects are currently being established in the new capital; the first one is built over a 40-feddan area in the R7 with 1,600 units and the second one is built over 40 feddans in the R7 area with 1,600 units, 11 sports academies, a sports centre, and a commercial centre.

The first project has been 65% complete with EGP 3.4 billion in contractual sales, while the second project has been 30% complete with EGP 1.6 billion in contractual sales which are expected to reach EGP 2.2 billion at the end of 2021.