Cairo, according to company chairman Emad Essa, Arkan for construction and real estate spent a total of EGP 500 million on its projects in the Egyptian real estate market in 2020, which were spread over projects residential and educational.
He added that the company intends to introduce 15-20 small residential projects in the coming year and has completed the implementation and delivery of more than 20 separate housing buildings.
Meanwhile, the company aims to deliver around 12 new projects by next April, alongside proposed expansion plans in New Cairo and Sheikh Zayed.
The development of an administrative business project in Sheikh Zayed, in partnership with investors, should start in the second half (S2) 2021, and should be completed in 18 months.
Essa said the project is located on an area of 2,000 m² and consists of four floors, with investments ranging from EGP 130m to EGP 140m.
He further revealed that a new shopping project in front of the Mall of Arabia is currently under negotiation, with investments expected to exceed EGP 300 million.
“The company has secured land for the Arkan Future School project, and its designs are in the process of being approved,” Essa said. “The school is located on an area of 8,000 m² across from the Shooting Club on October 6, and construction is expected to begin in the second semester of the coming year.
He noted that the school, which will be able to accommodate around 1,000 students, will begin operations in 2023.
© Press release 2021