Arab Finance: Sherif El-Sherbini, Egypt's Minister of Housing, Utilities, and Urban Communities, inspected the progress of construction works at SODIC’s The Estates project in New Zayed City, according to a press release.

Ayman Amer, General Manager of SODIC, accompanied the minister and reviewed the implementation rates of the project, noting that the deliveries of the project’s five phases are ahead of schedule.

Amer highlighted that the project’s completion rate reached 77%, with 273 units delivered so far and 64 units planned to be delivered in 2025, in addition to 82 units to be handed over by 2026.

The first phase was launched and completed in 2019, making SODIC the first real estate developer to deliver residential units in New Zayed City in 2023.

The second phase commenced in December 2021 and was completed in 2024, while the third phase was launched in November 2022 and will be concluded by 2025.

Meanwhile, the fourth phase began in June 2024 and is scheduled to be implemented by 2026-2027.

It is worth highlighting that the Estates project was launched in 2019 and spans an area of 630,000 square meters with 150,000 square meters of green spaces.

Only 13% of the total area has been allocated to buildings, providing wide open spaces between units. The project also includes a total of 437 residential units, 17 administrative units, and 8 commercial units.