Akam posts $94.8mn contractual sales from Egypt new capital’s housing compound

Egyptian Akam Developments says it achieved contractual sales of 1.7 billion Egyptian pounds ($94.8 million) from Scenario project at the seventh residential district in the country’s new capital until the end of 2018.

The real estate developer earlier obtained the ministerial approval on its fully-fledged residential compound project that is spanning over 39 feddans, said property consultant Yomna Kamel on Monday.

Scenario will include 1,200 housing homes varying between apartments and duplexes, with spaces ranging between 136 and 465 square metres for each unit, Kamel told Amwal Al Ghad.

“We are marketing the project in three phases of a sale,” she said, adding that the final phase is expected to be completely promoted within the first quarter of the current year.