In line with the trends of the country.. Sky Abu Dhabi races to the timetable for implementing the "Eight Residence" project in the New Capital

1.7 billion pounds in sales in 9 months and the first units received in the second quarter of 2024

Sky Abu Dhabi Real Estate Development Company, the real estate arm of the United Arab Emirates group Diamond, revealed the latest development of the project Residence Eight in the New Capital, where the company has achieved an advanced percentage of the project's implementation, thanks to its subsidiary S2A contractors' excellence in carrying out massive construction work despite having just received the land.

The company also succeeded in achieving 1.7 billion pounds of contract sales, representing 93% of the sales volume of the housing project, in a precedent that is the first of its kind for a real estate developer to achieve a huge sales volume in a record time on his first project, which indicates customer confidence in the experiences of Sky Abu Dhabi in implementing successful projects, and its ability to provide a distinctive real estate product that adds to the real estate market and meets customer aspirations.

This came during a tour organized by Sky Abu Dhabi Real Estate Development Company, today, Wednesday, for a group of the most prominent economic journalists, at the land of the Residence Eight project in the new administrative capital, in the presence of a number of company officials, including Engineer Abdel Rahman Ajami, CEO of Diammond Group and Sky Abu Dhabi Real Estate Development Company, and Mustafa Salah, CEO of the company's commercial sector, Eng. Ashraf Hamdi, CEO of S2A, to learn about the detailed plan of the project Residence Eighth, as well as to learn about the extent of the completion of the project's work on the land Reality.

The Abu Dhabi Skeye seeks to make it the fastest private property project of the New Capital, in line with the country's approach of quickly achieving urban development to accommodate Egypt's growing population, and implementing real estate projects that add value by building integrated urban communities according to the latest technology.

The New Capital, Residence Eight, encompasses the 23 acres of the new administrative capital, a residential and commercial complex, with many advantages over the other projects of the New Capital, the most notable of which is the ingenious site, the R8 area, surrounded by a diplomatic quarter to the west, with 70 acres of green space to the north and the Green River to the south near the city centre, and the ideal site The design of the project is divided between large green areas of 82% of the total area of the project and about 1,000 Residential units with an area of 110 to 360 m2, including luxury duplex apartments and units.

"Sky Abu Dhabi adopts an integrated construction vision of customer wellbeing and quality of life, and in order to achieve this the company has reclassified the design of the major engineering design project with a modern design for the New Capital, with the latest technology systems, and at the same time sped up to the ministerial decision and complete the licensing and construction procedures," said Eng. Abdul Rahman Ajami, CEO of the Damond Group and Sky Abu Dhabi Estate Development Company. In this regard, he praised the role of the administrative capital company in collaborating with the company to quickly complete the paperwork necessary to start the project.

Eng. Ashraf Hamdi, CEO of S2A Construction Company, a member of the Emiratis Diamond Group, said that once the company received the land for the project Residence Eight, it worked to prepare the ground, start the foundation and replacement excavation work, and start the concrete hull work. The company, with an engineering staff with prior experience in the construction of mega-projects, managed to achieve an advanced level of work, in line with our goal of becoming the fastest private sector real estate project in the administrative capital, and successfully delivered units by the time agreed with Customers, noting that the company intends to deliver the first project units to customers during the second quarter of 2024 for a total of 220 units.

It is reported that Sky Abu Dhabi Real Estate Development Company is a subsidiary of the UAE group "Diamond", leading in the field of real estate services specializing in a variety of projects and activities, with a total investment of $1 billion and a project portfolio of more than 17 projects in the UAE.