Mubasher: Sky Abu Dhabi Developments, a subsidiary of the UAE-based Diamond Group, seeks to invest around EGP 15 billion in the Egyptian market in two years, the Owner of Diamond Group, Saleh Mohammed bin Nasra, said.
Nasra added during a press conference held in Cairo on Tuesday that Sky Abu Dhabi Developments will launch a EGP 4 billion project in the New Administrative Capital.
Meanwhile, the CEO of Diamond Group and Sky Abu Dhabi Developments, Abdelrahman Agami, said that the company will establish a residential, commercial, and administrative project, spanning over 23 acres, at the New Administrative Capital.
Sky Abu Dhabi Developments has purchased the project land at a total value of EGP 650 million and is expected to inject around EGP 250 million in the project during 2021.
To be completed in four years, the project will include 1,000 housing units, in addition to commercial and entertainment areas.
