Jan 01 1970
Al Ahly Sabbour, NUCA Partner to Develop KEEVA in West Cairo
Al Ahly Sabbour Developments, in partnership with the New Urban Communities Authority (NUCA), has launched KEEVA, the former’s latest development worth EGP 5 bn in the 6th of October City, Invest-Gate reports.
Both entities signed the partnership in the attendance of Al Ahly Sabbour Chairman Hussein Sabbour, Ahly Sabbour CEO Ahmed Sabbour, and Mazen Hassan, vice president of NUCA’s financial affairs sector, in addition to Sherif Riad, head of corporate banking credit and syndicated loans at the National Bank of Egypt (NBE).
Slated for delivery by the second half of 2023, the 144-acre project is two minutes away from the 26th of July Corridor and around 8 minutes from Mall of Egypt.
Al Ahly Sabbour, under the agreement, will possess 59.5% of the project, while the remaining 40.5% will be owned by NUCA.
The project, which will be developed over four phases, will comprise a total of 1138 units, with different types varying between villas, townhouses, and apartments, in addition to sizes starting at 120 square meters up to 360 square meters.
The real estate developer announced earlier its land bank reached 5 mn square meters and it seeks to raise it to 6 mn square meters until mid-2020