Saudi New Plan working on Egypt new capital’s 1st compound project

Saudi-based New Plan Developments announced the start of the construction works of its first flagship, Serrano Compound at the seventh residential district in Egypt’s new capital within January 2019.

New Plan is a shareholding company, which has a long history in real estate and commercial activities in Saudi Arabia.

The firm plans to commerce implementing the construction works of its new commercial and administrative tower flagship Eleven in the new capital within the upcoming two months, said chairman Walid Khalil on Thursday.

“The total investments of the two project approaches 3 billion Egyptian pounds ($173.2 million), Khalil further said on the sidelines of Cityscape Egypt.

Cityscape, one of the most important real estate exhibitions in the Middle East, is taking place from 27th to 30th March 2019.

As for New Plan’s more works in the new capital, the firm is currently launching its third project that will include a number of residential villas, he added.