Egypt’s Safwa Urban Development (SUD) says it plans to promote 1,000 units in its fully-integrated residential flagship Capital Heights 2 in New Administrative Capital, 40km (24.8 miles) east of Cairo, within 2018.
Capital Heights 2 is with contractual sales of one billion Egyptian pounds ($56.4 million), said SUD’s marketing director Ahmed Nabil on Monday, adding that the project is being executed over 250,000 square metres.
Capital Heights 2 will include housing units on a built-up area of 50,000 square metres and a social club over 50,000 square metres, with investments estimated at around 3.5 billion pounds, the official further told Amwal Al Ghad.
Asked about SUD’s more works, Nabil referred that his company has completely marketed its fully-fledged project Capital Heights 1 on a space of 57 faddans in the new capital, with investments worth 3 billion pounds.
“The second project (Capital Heights 1) is to encompass 2,100 housing units,” Nabil said.