Squares Developments launches its latest project at New Capital with EGP 15bn investments

In a move that reaffirms its confidence in Egypt’s real estate market and the New Administrative Capital as a premier investment hub, Squares Developments announced the launch of its third project, Sage Lakes Residence, with total investments amounting to EGP 15bn.

The new development aligns with the company’s expansion strategy to diversify its investment portfolio and broaden its customer base.

Eng. Talaat Gorgous, Chairman of Squares Developments, stated that the New Administrative Capital has proven over the past years its ability to attract major companies and investors, driven by its robust infrastructure, advanced urban planning, and continuous government support — establishing it as a prime investment destination for committed developers.

During the company’s press conference, Gorgous stated that the new project marks a major milestone for Squares Developments, distinguished by its strategic location, innovative architectural design, and collaboration with strong success partners. 

He said that the project further strengthens the company’s position as one of the leading developers known for customer satisfaction and a long history of delivering outstanding real estate projects.

He added, “The Sage Lakes Residence project forms part of our ambitious expansion strategy, which we are actively implementing by leveraging our extensive experience, strong financial position, strategic partnerships, and highly skilled team across all departments. Our upcoming project is planned to be launched in the North Coast to ensure greater diversification of our investment portfolio.”

Haron Abd Elghany, Chief Commercial Officer (CCO) at Squares Developments, stated that the Sage Lakes Residence features a diverse range of units, starting from studios to duplexes and villas, with areas reaching up to 258 sqm. 

The project includes a dedicated villas zone centered around large artificial lakes, as well as a mosque and a church, reflecting the spirit of community cohesion and national unity promoted by the Egyptian state in recent years, Abd Elghany said.

He further added that the compound also includes a commercial section comprising administrative offices, medical clinics, a pharmacy, and all essential family services, offering a wide variety of amenities. These include a large parking area, a clubhouse on the rooftop of each building, jacuzzis, saunas, and two additional clubhouses, ensuring the highest standards of quality living and luxury. The company aims to cater to the needs of two generations of target customers.

Abd Elghany noted that the first phase of the project is being launched with a down payment starting at 2.5%, with the remaining balance payable over 10 years — a payment plan thoughtfully designed to ensure a balance between client satisfaction and the company’s interests. 

He explained that the commercial team conducted extensive market research on target customers to develop flexible payment options tailored to their needs.

The CCO pointed out that the company aims to expand its investment portfolio to EGP 22bn in the coming period, relying on its strong track record, solid financial position, and the attractive investment climate that supports the growth plans of ambitious developers. 

Amid rising market competition, clients now have the ability to choose based on developers’ proven credibility, commitment to delivery, and execution quality — success factors that define Squares Developments, Abd Elghany said.

Eng. Hany Gorgous, Vice Chairman of Squares Developments, said that the compound spans approximately 33 acres in a strategic location within the R8 area at the New Administrative Capital. It is situated directly in front of a large service zone and near a sports club and a university. 

He added that the company is collaborating with major entities, including Hafez Consultants and the International Project Management Company.

Gorgous noted that choosing highly experienced and qualified partners reflects the company’s commitment to delivering a fully integrated real estate product that meets the latest standards of sustainability and innovation, while ensuring the best investment value for its clients. 

The development also reflects the company’s meticulous attention to every detail of design and execution, ensuring a development that lives up to its distinguished name, rich legacy, and the solid track record of its founders.

For his part, Eng. Mina Maher, Board Member of Squares Developments, disclosed that the project is a fully integrated residential and urban development that includes a commercial component and a wide range of premium services designed to provide an exceptional quality of life and luxury for clients. The company targets EGP 5bn in sales from the project’s first phase.

Maher noted that the project provides clients with a distinctive destination that brings together all key features in one location within the New Administrative Capital. Construction is set to begin in the first quarter of next year, with execution, timely delivery, and commitment remaining fundamental pillars of the company’s strategy—ensuring its market leadership and sustained customer satisfaction.

Meanwhile, Eng. Mohamed Hafez, Chairman of Hafez Consultants, highlighted that the firm is dedicated to delivering architectural designs that embody an integrated vision — blending aesthetic excellence with functional efficiency to maximize space utilization and give the project a distinctive architectural identity in the heart of the New Administrative Capital.

Hafez added that the collaboration with Squares Developments aims to introduce an innovative concept that ensures a refined urban experience aligned with global development standards and the extensive expertise of both partners.

Tarek Fahmy, General Manager of the International Project Management Company, stated that the partnership with Squares Developments reflects a strategic collaboration aimed at delivering a fully integrated project built to the highest standards of quality in construction, management, and operation. Fahmy disclosed that his company will oversee the project’s management and operations to ensure it delivers tangible value to Egypt’s real estate market while strengthening the track record of both partners.