CAIRO: Sky Abu Dhabi, the real estate subsidiary of the UAE-based Emirati Diamond Group, will invest 15 billion Egyptian pounds ($950 million) in the Egyptian real estate market over the next two years.
Abdel Rahman Agamy, CEO of Emirati Diamond Company and Sky Abu Dhabi, said the company’s first project will be a 4 billion Egyptian pound investment in Egypt’s New Administrative Capital development.
He told a press conference to announce the start of the company’s business in Egypt that the project extends over an area of 24 acres and includes the establishment of an integrated urban community consisting of around 1,000 housing units.