Akam De­vel­op­ments tar­gets EGP 1.2bn in sales from Sce­nario pro­ject

The Daily News Egypt - - News - By Shaimaa Al-Aees

Akam De­vel­op­ments tar­gets to achieve EGP 1.2bn in sales from its Sce­nario pro­ject at the New Ad­min­is­tra­tive Cap­i­tal, ac­cord­ing to the com­pany’s Prop­erty Con­sul­tant,Youmna Kamel.

She said that the com­pany has com­pleted its mar­ket­ing of the pro­ject’s the first phase and of­fered the sec­ond phase for sale at the Next Move ex­hi­bi­tion in Oc­to­ber.

Kamel added the pro­ject was built on an area of 39 fed­dan in the R7 re­gion of the New Cap­i­tal,and in­cludes 1,200 units with sizes rang­ing be­tween 136 and 465 sqm, not­ing that the com­pany plans to in­vest EGP 4bn in the pro­ject.

Fur­ther­more, Kamel de­clared that the com­pany has al­ready ob­tained min­is­te­rial ap­proval to de­velop the pro­ject, and the first phase is un­der con­struc­tion.

The pro­ject’s mar­ket­ing was di­vided into four phases,andAkam aims to com­plete the sale of its units by next March.

The unit prices starts from EGP 10,700 to EGP 12,000 per sqm for halffin­ished units and from EGP 12,000 to EGP 14,500 per sqm for fully fin­ished units, with 10-year pay­ment plans.

Akam was es­tab­lished in early 2018, with a paid cap­i­tal of EGP 3bn. The com­pany is owned by Al-Faisal Group of Com­pa­nies, a sub­sidiary of Faisal Is­lamic Bank;Be­nayat Misr;Res­i­dence De­vel­op­ment, and a group of engi­neer­ing con­sul­tancy com­pa­nies owned by Saudi busi­nessper­son, Saad Al-Ghaithi.

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