Egypt’s Arabia to roll out new phase in Sun Capital in Sept.

Egypt’s property developer Arabia Holding will launch a new phase in its flagship Sun Capital in Sixth of October City within next September, said chairman Tarek Shoukry on Monday.

“The company had received initial approvals from a number of banks to finance a part of Sun Capital,” Shoukry told Amwal Al Ghad, refusing to announce any details or even the names of these banks within the current period.

The new phase is set to include the implementation of 800 units, the official said, adding that Arabia Holding had earlier marketed the project’s first phase.

Spanning over 2.5 million square metres or 575.65 feddans, he said the project will comprise a park over 24 feddans, international university over 25.2 feddans, hospital over 6.217 feddans, and two international schools over eight feddans.

Arabia Capital executed administrative, commercial, and hotel services by 40 percent as well as housing units in the project by 60 percent, varying between apartments, standalone villas, duplexes, and townhouses, Shoukry added.