Sorouh Developments has launched the first phase of its fully-fledged flagship Entrada Compound in Egypt’s New Administrative Capital, 40km (24.8 miles) east of Cairo, said board member Walaa Alami on Tuesday.
Sorouh is a shareholding company comprising a number of Egyptian and Arab investors, who implemented more than 250 real estate projects in Egypt, Turkey, Saudi Arabia, Kuwait, and the United Arab Emirates.
“Entrada is being carried out on a space of 72 feddans within four years in 10 phases, with investments of 9 billion Egyptian pounds ($508.6 million),” Alami stated, adding that the project means entrance in English.
“The project is to include around 3,000 housing units, with spaces ranging between 120 square metres and 220 square metres,” he further noted.
As for Entrada’s first phase, the official referred that it will encompass establishing 300 units, with expected sales worth 600 million pounds and it will be delivered within a 3-year timeframe.