Brevan Developments has officially launched a new phase of its Lake House residential project in New Obour City, responding to increasing demand for integrated, modern living communities. Saeed Sakr, a board member at Brevan Developments, announced that the upcoming phase will introduce competitively priced residential units, accompanied by flexible payment options and discounts reaching up to EGP 3,500 per square meter. He highlighted the strategic location of the Lake House compound, situated adjacent to the New Obour City Authority and near the city's main entrance. Spanning over 9.5 feddans, the development includes 19 residential buildings and a commercial mall housing 135 retail stores, each with street frontage for maximum visibility. Designed to offer a complete living experience, the compound will also feature two swimming pools, an artificial lake, dedicated children's play areas, a cycling track, jogging paths, and ample landscaped green spaces. These amenities are supported by 24-hour security and guarding services. In total, the development includes 480 residential units and represents an investment of approximately EGP 2.5bn. Sakr outlined the variety of units available in the new phase, starting from 81 sqm one-bedroom studios, 136 sqm two-bedroom apartments, three-bedroom units at 155 sqm and 170 sqm, and spacious four-bedroom units reaching 215 sqm. Duplexes will also be offered, with sizes extending up to 335 sqm. Buyers can choose from tailored payment plans, such as a 15% down payment with installments over six years or a 25% down payment with the remainder paid over seven years. Construction is slated to begin within six months, with the first units scheduled for handover in June 2028. Brevan has contracted architect Mohamed Abdel Rahman Abu Kahla as project consultant and partnered with BEYOOT Engineering & Contracting and Al Saqr Contracting—firms recognized for their reliability and quality execution. In addition to the Lake House project, Sakr shared that Brevan Developments holds a broad and diverse land portfolio. This includes plots at Jamaran Resort in Sahl Hasheesh, Hurghada (currently under licensing), plots in New Cairo's Fifth Settlement under development, a commercial parcel in Obour under licensing, and the existing Lake House compound itself. The company also plans to launch two new commercial malls in Obour City, as well as the La Quanda compound in Sahl Hasheesh. These will be rolled out in parallel with ongoing development efforts across its current projects. Sakr concluded by emphasizing the company's strategic goal to expand into the New Administrative Capital and Egypt's North Coast. With over 15 years of experience in Hurghada and as one of the early investors in coastal urban development, Brevan Developments continues to self-finance its ventures while reinvesting proceeds from unit sales.
